5 minutes to charge an EV – BP Ventures for advanced mobility
Speaking before the announcement that BP is buying Chargemaster, BP Ventures’ Akira Kirton sets out a platform-based corporate #VC strategy designed to help BP become a global “leader in advanced mobility”. The investment in @StoreDotLtd alongside @Daimler, Samsung and TDK, is designed to create #EVs that are chargeable in 5 minutes “on a BP Forecourt”. Investments in @FreeWireTech and Nio Capital also underpin and enable BP’s advanced mobility shift. More BP #EV investments to be unveiled at future GCV events in Hong Kong, Houston, Helsinki and Monterey.
Other points made by Akira:
There is a clear trend of new incumbents stepping into the corporate venturing space such as JetBlue and Boeing HorizonsX.
Corporates are moving from individual ‘point-to-point’ investment towards investment into platforms. CVCs are beginning to invest not just in one company or area but in numerous opportunities that cohere.
BP Ventures invest 200 million per year into 5 key areas of energy transition, digital, advanced mobility, low carbon power and low carbon management, alongside an additional 300 million a year to scale up opportunities – this is part of their new 2017 vision to provide heat, light and mobility to the world, whilst also managing climate change.