• Tom Whitehouse

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.

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