Ampol (ASX:ALD) to deliver fast-charging bays for battery vehicles

Company News

by Lauren Evans

Petroleum giant, Ampol (ASX:ALD) entered into a funding agreement with the Australian renewable energy agency (ARENA) to deliver a national fast charging network to support the uptake of battery electric vehicles in Australia.

Through the future fuels fund, Ampol will deliver fast charging bays at over 100 sites across its retail network including Greater Sydney, Melbourne, Brisbane and Perth regions. ARENA will contribute $7 million to support Ampol’s investment.

Managing director and CEO said Matt Halliday said, “electrification and electric vehicles will play a critical role in reducing emissions across Australia’s transport sector over the coming years."

Ampol expects that electric vehicles including those battery run, will play a role in decarbonising the transport sector and gradually displace internal combustion engines.

Matt Halliday said, “e-mobility infrastructure is a central pillar to capturing our existing customer base through the energy transition, as we look to expand our role in electricity to make the ease of the current liquid fuels era translate into the future BEV environment."

Ampol will commence works on the network in the second half of 2021 with 97 per cent of sites successful.

Shares in Ampol (ASX:ALD) are trading 0.3 per cent lower at $28.40.

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