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BP Partners With Simon to Expand EV Charging Network Across US
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BP plc (BP - Free Report) , the British energy major, has partnered with Simon Property Group Inc. (SPG - Free Report) to expand its global EV charging business, bp pulse. Simon Property Group is a real estate investment trust involved in acquiring, owning and leasing of shopping, dining, entertainment and mixed-use destinations.
bp pulse has announced a deal for the installation of EV charging Gigahubs across 75 sites in collaboration with Simon, which will offer more than 900 super-fast charging bays for its customers. The EV charging sites across all locations are expected to be compatible with nearly every model of EVs available in the market at present.
This deal highlights BP’s focus on expanding its EV charging network and delivering charging infrastructure to locations as per the needs and convenience of its customers. In its latest effort to expand its EV charging network across the United States, bp pulse will be adding EV charging stations across Simon destinations.
BP had previously expanded its Gigahub network near airports and major metropolitan areas, thereby enhancing accessibility for its customers. Additionally, the company has also integrated EV charging into its branded convenience stores and TravelCenters of America.
Simon’s portfolio supports bp pulse’s broader objective to deploy ultra-fast charging infrastructure across the United States, per BP’s statement. Through this collaboration, bp pulse will be able to provide EV drivers access to an extensive range of retail offerings at SPG's impressive destinations.
Simon is enthusiastic about expanding EV charging options across its portfolio through the collaboration with bp pulse. SPG highlights that it is committed to providing the best-in-class experience for all its customers and the community.
BP is working closely with key partners who share a similar long-term commitment to providing electrification solutions for its customers, which includes real estate partners who facilitate the deployment of EV charging infrastructure to locations where EV drivers need and utility firms that ensure the availability of adequate site power. Utilities also assist in acquiring the necessary approvals and permits needed to scale up the infrastructure as per consumer demand.
Zacks Rank and Key Picks
BP and SPG carry a Zacks Rank #3 (Hold) each at present.
SM Energy is an upstream energy firm operating in the prolific Midland Basin and the South Texas regions. For 2024, the company expects its production to increase from the prior-year reported figure, signaling a bright production outlook.
Hess Midstream owns, operates, develops and acquires a wide range of midstream assets, providing services to Hess Corporation and other third-party customers. The partnership has a stable fee-based revenue model secured via long-term commercial contracts. Since Hess Midstream operates through 100% fee-based contracts, it is exposed to minimal commodity price risks.
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BP Partners With Simon to Expand EV Charging Network Across US
BP plc (BP - Free Report) , the British energy major, has partnered with Simon Property Group Inc. (SPG - Free Report) to expand its global EV charging business, bp pulse. Simon Property Group is a real estate investment trust involved in acquiring, owning and leasing of shopping, dining, entertainment and mixed-use destinations.
bp pulse has announced a deal for the installation of EV charging Gigahubs across 75 sites in collaboration with Simon, which will offer more than 900 super-fast charging bays for its customers. The EV charging sites across all locations are expected to be compatible with nearly every model of EVs available in the market at present.
This deal highlights BP’s focus on expanding its EV charging network and delivering charging infrastructure to locations as per the needs and convenience of its customers. In its latest effort to expand its EV charging network across the United States, bp pulse will be adding EV charging stations across Simon destinations.
BP had previously expanded its Gigahub network near airports and major metropolitan areas, thereby enhancing accessibility for its customers. Additionally, the company has also integrated EV charging into its branded convenience stores and TravelCenters of America.
Simon’s portfolio supports bp pulse’s broader objective to deploy ultra-fast charging infrastructure across the United States, per BP’s statement. Through this collaboration, bp pulse will be able to provide EV drivers access to an extensive range of retail offerings at SPG's impressive destinations.
Simon is enthusiastic about expanding EV charging options across its portfolio through the collaboration with bp pulse. SPG highlights that it is committed to providing the best-in-class experience for all its customers and the community.
BP is working closely with key partners who share a similar long-term commitment to providing electrification solutions for its customers, which includes real estate partners who facilitate the deployment of EV charging infrastructure to locations where EV drivers need and utility firms that ensure the availability of adequate site power. Utilities also assist in acquiring the necessary approvals and permits needed to scale up the infrastructure as per consumer demand.
Zacks Rank and Key Picks
BP and SPG carry a Zacks Rank #3 (Hold) each at present.
Some better-ranked stocks in the energysector are SM Energy (SM - Free Report) and Hess Midstream Partners LP (HESM - Free Report) . SM Energy presently sports a Zacks Rank #1 (Strong Buy), while Hess Midstream carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
SM Energy is an upstream energy firm operating in the prolific Midland Basin and the South Texas regions. For 2024, the company expects its production to increase from the prior-year reported figure, signaling a bright production outlook.
Hess Midstream owns, operates, develops and acquires a wide range of midstream assets, providing services to Hess Corporation and other third-party customers. The partnership has a stable fee-based revenue model secured via long-term commercial contracts. Since Hess Midstream operates through 100% fee-based contracts, it is exposed to minimal commodity price risks.