Shell is acquiring EV charging network Volta for $169 million

Shell USA, best known for its gasoline fill-up stations, is acquiring electric vehicle charging network Volta through a full cash purchase of all its common stock. The transaction, worth $169 million, is set to close in the first half of 2023.

Volta is the second US EV charging company to come under the Shell brand since Greenlots was acquired by Royal Dutch Shell in 2019. Volta currently operates 3,050 destination chargers across 31 states and Europe. According to the press release, the company is already planning to install another 3,400 stalls over an undisclosed period of time.

Last year, Volta was ranked second after Tesla in customer...

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