Total
Source London operates more than half of the charge points in the city. Credit: Andrew Roberts on Unsplash.

French oil company Total is set to acquire Source London EV, London’s largest electric vehicle charge point network, following an agreement with Bolloré Group to acquire ‘Blue Point London’.

Source London currently has an electric vehicle charging network across the city, with more than 1,600 on-street charge points.

Financial details of the deal have not been disclosed.

Total Marketing and Services president Alexis Vovk said: “By combining today these existing infrastructures with Total’s know-how in terms of installation, operation and management of public electric vehicle charging networks, we are starting a new phase, supporting the expansion of electric mobility in London.

“In collaboration with our partners and the local authorities, we will be able to meet both the strong growth in demand for on-street charge points and the needs for new mobility solutions of London users.”

Launched in 2010, Source London operates more than half of London’s charge points that have been developed in cooperation with London Boroughs.

The City of London’s amibition to become a zero-carbon city by 2050 is said to have fuelled Source London’s growth, who aims to increase the number of charge points by tenfold over the next five years.

The acquisition is expected to strengthen Total’s position as a key player in electric mobility in Europe.

Currently, Total is engaged in the installation and operation of charge point networks in the Metropolitan Region Amsterdam in the Netherlands and the Brussels-Capital Region in Belgium.

The French company aims to operate more than 150,000 electric vehicle charge points by 2025.

The deal is expected to be closed by the end of the year.