Ampol to acquire EV charging network in $225m deal
Australia’s largest service station, Ampol, has purchased electric vehicle (EV) charging provider Evie Networks in a $225 million acquisition.
The multi-million deal will see Ampol Energy take full ownership of Fast Cities Australia, the parent entity of Evie Networks, bringing more than 1030 extra charging bays Ampol sites nationwide.
The deal is expected to be completed by the first half of 2027. Facebook/Ampol
Ampol said the combined business will bring about 1425 charging bays across more than 400 locations.
Ampol chief executive and managing director Matt Halliday said the purchase “significantly expands the scale, reach and capability” of EV charging for the energy provider.
“The acquisition secures a portfolio of well-located sites with long-dated average lease tenure and established grid access that, we believe, will become increasingly valuable as battery electric vehicle adoption accelerates in the years ahead,” he said.
Australians are continuing the shift toward EVs following soaring prices of fuel due to the ongoing war in the Middle East as well as the ever-growing line of affordable EV models.
A year ago, EVs made up less than 10 per cent of the nation’s new car market however it now makes up more than one quarter of new sales.
Chinese EV manufacturer BYD is now the second most popular new car brand in Australia, sitting behind Toyota.
In June this year, the biggest ever shipment of EVs docked in Melbourne, bringing more than 5000 of the cars to Australia.
The deal, which is subject to clearance from the Australian Competition and Consumer Commission (ACCC), is expected to be done by the first half of next year.
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