Yahoo Finance Shell plans to install 50,000 electric vehicle charging points by 2025
Shell has announced plans to install 50,000 on-street electric charging points in the in the UK BY 2025.
The oil giant said it would support local authorities by covering the 25 per cent of the cost of installations which is not currently covered by a government subsidy.
The rollout is part of a plan to help ensure motorists in urban areas who do not have off-street parking can charge up their electric vehicles.
More than 60 per cent of people live in cities are estimated to not have off-street parking - a fact that is seen as a barrier to the widespread adoption of low-emission cars.
The government has said it will ban the sale of new internal combustion engine cars by 2030.
Amid growing pressure to take action on the climate crisis, Shell is stepping up its efforts to generate and sell electricity. Most of its revenues and profits come from fossil fuels.
The new charging points will be installed by Ubatricity, a company which Shell bought earlier this year. Ubatricity currently has 3,600 of the UK's total 25,000 charging points.
According to forecasts by the Competition and Markets Authority, around 280,000 to 480,000 public charge points will be needed by 2030 to support the switch to electric vehicles.
David Bunch, Shell's UK chair, said: "It's vital to speed up the pace of EV charger installation across the UK and this aim and financing offer is designed to help achieve that.
Transport minister Rachel Maclean said: "Together with industry and local authorities, we can create cleaner, greener local communities - providing EV chargepoints for people without off-street parking across the country."
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