Shell Subsidiary Acquires EV Company for North American Expansion

The oil giant pivots to electric vehicle technology.

  • Royal Dutch Shell subsidiary Shell New Energies US will acquire Los Angeles-based EV charging and energy management software provider Greenlots
  • Greenlots is Royal Dutch Shell’s second EV acquisition
  • Shell New Energies could spend between $1 billion and $2 billion on commercial opportunities until 2020

Royal Dutch Shell subsidiary Shell New Energies US will acquire Los Angeles-based EV charging and energy management software provider Greenlots for an undisclosed sum.

Greenlots’ technology and team will serve as the foundation for Shell New Energies’ expansion of EV solutions throughout North America, the companies announced. However, Greenlots will retain both its leadership team and brand identity.

Greenlots is Royal Dutch Shell’s second EV acquisition. The global energy company in 2017 agreed to acquire Netherlands-based NewMotion, an EV charge point owner with that manages over 80,000 stations in 28 countries.

Shell New Energies is primarily focused on delivering new fuels for transportation, energy generation and distribution. The company, according to the announcement, could spend between $1 billion and $2 billion on commercial opportunities until 2020.

Calls to Shell were not immediately returned. Greenlots did not immediately respond to questions regarding the acquisition.

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