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Shell Acquires US EV Charging Firm With Plugs at Kroger, Six Flags

  • Oil major acquires San Francisco-based Volta for $169 million
  • Volta, low on cash, one of several struggling clean-tech SPACs
A Volta Inc. charging point illustration. 

A Volta Inc. charging point illustration. 

Source: Business Wire

Updated on

Shell Plc agreed to buy US electric-vehicle charging firm Volta Inc. as the fossil-fuel giant works to keep pace with the transition to low-carbon mobility.

The $169 million takeover of Volta — which installs chargers with large video advertising screens at grocery stores, office buildings and elsewhere — is emblematic of an accelerating shift in focus for a company that has relied on a vast network of traditional filling stations to reach customers.