Petrol retailing giant Ampol buys one of Australia's biggest EV charging networks for $225 million
Australian fuel retailer Ampol has acquired Evie Networks, a major EV charging operator, for $225 million. The move is part of a strategic shift to capture the growing electric vehicle market as traditional fuel demand fluctuates.
Why it matters
The acquisition signals a significant transition in the energy sector as traditional fossil fuel companies pivot toward infrastructure for electric mobility.
Petrol refining and retailing giant Ampol has announced a major strategic shift, announcing a deal to buy one of the country’s biggest EV charging network operators, Evie Networks, for $225 million.
Evie Networks was owned by Fast Cities Australia, whose biggest backer was the former coal magnate Trevor St Baker, who also invested heavily in Tritium, the Brisbane-based maker of fast-charging stations that collapsed and was sold to an Asian buyer.
The purchase of Evie Network will add more than 1,030 EV charging bays to Ampol’s network – which currently stands at just over 300. The bays are spread over 400 sites, and the deal is subject to regulatory approval.
Ampol says the purchase comes at a time of surging EV sales, declining petrol and diesel offerings, and as the company seeks to boost its convenience store revenues which are key to the profitability of its retailing network.
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