Tesla Strikes Deal To Sell Chargers to British Gas Station Operator EG Group

By
Bill McColl
Bill McColl
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Bill McColl has 25+ years of experience as a senior producer and writer for TV, radio, and digital media leading teams of anchors, reporters, and editors in creating news broadcasts, covering some of the most notable news stories of the time.

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Published November 13, 2023
Tesla Supercharger

Robert Marquardt / Contributor / Getty Images

Key Takeaways

  • British gas station operator EG Group said it was buying Tesla's fast chargers for electric vehicles (EVs) for an undisclosed amount to install at its locations in the U.K. and Europe.
  • It was the second such deal for the EV maker after BP recently agreed to pay $100 million for Tesla chargers.
  • Shares of Tesla rose on the news Monday, and their price has nearly doubled so far this year.

Tesla (TSLA) shares advanced Monday as British gas station operator EG Group said it will purchase the EV makers' supercharging units for its locations throughout the U.K. and continental Europe.

Financial details of the deal weren't disclosed. Rebecca Tinucci, Tesla’s senior director of charging infrastructure, said the agreement will support a key area of focus for the company, which is the “rapid installation of reliable, easy-to-use EV charging infrastructure.”

EG Group founder and co-CEO Zuber Issa said the agreement “will transform how our customers charge their vehicles and how they interact with EG.”

Imraan Patel, chief strategy and business officer at EG Group, said the company has installed more than 600 EV chargers across 189 sites, and is targeting offering more than 20,000 over time. It is also pursuing “opportunities across third-party 濒辞肠补迟颈辞苍蝉.”

It’s the second such deal recently for Tesla, after last month’s news that it was selling $100 million worth of supercharger hardware to BP (BP).

Shares of Tesla were up 4.2% Monday and have doubled in price so far this year.

TSLA year-to-date share performance

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  1. EG Group. "EG GROUP ACQUIRE TESLA'S ULTRA-FAST CHARGERS."

  2. BP. "BP Boosts EV Charging Network with $100 Million Order of Tesla Ultra-Fast Chargers."

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