BMW i Ventures is set to exit EV charger developer Chargemaster in a purchase of undisclosed size by BP.
Petroleum supplier BP has agreed to acquire Chargemaster, the UK-based operator of a network of electric vehicle (EV) charging points, for an undisclosed amount allowing automotive manufacturer BMW to exit.
Founded in 2008, Chargemaster designs, builds and installs EV chargers, and currently operates a 6,500-strong network of charging points across the UK spanning both public and in-home systems. It receives money through a mix of subscription and pay-as-you-go fees.
BP is making the acquisition to support the installation of charging…
