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Shell’s plan to step up 500,000 Charging points of EVs

The popularity of electric vehicles keeps rising rapidly with time. Why not when the world seems to be electrifying every moving instrument. Different companies have taken up various roles in the mission to help achieve net zero-emission. Let’s check out Shell‘s new plan. It seems the company has been swept up in the Electric vehicles sector.

The company’s recent announcement has come to everyone’s attention that Shell plans to make electric vehicle charging stations readily available for all. In this new project, the management team is working on setting up 500,000 stations. It is a short-term project which will last for four years. The EVs infrastructure industry is rapidly gaining its fame, with many investors working with companies to get in the business.

Since the start of 2021, it is clear that three companies are now under special purpose acquisition vehicles. And these companies will go public soon. However, a third of the companies have raised tens of millions from some big private equity sector names. The first successful dealing kicked off in 2020 September. Chargepoint partnered with a special purpose acquisition company with accounts of up to $2.4 billion in an electric charging network. From the deal, the company’s listing was scheduled in 2021, 16th February in New York.

In January, an operator and owner of an electric charging station, EVgo, partnered with the SPAC Climate Change Crisis Real Impact I Acquisition. The deal’s market evaluation runs up to $2.6 billion. These ratings are a huge win for the privately held company and the investment company. The two will combine their company to achieve more profits and offer better deals.

Another deal happened recently where Volta Industries struck an agreement with Tortoise Acquisition II. This partnership will give the charging infrastructure company name Alessandro Volta, a battery inventor. As a result of this collaboration, SPAC Company’s shares were over the moon in these recent days. Currently, the stock is trading at about $15 per share.

Not to be left behind, private equity firms are also forming partnerships. One of the leading names in the Private equity energy investment, Riverstone Holdings, placed its bet on the charging space. It invested in FreeWire. From the deal, the company was able to raise $50 million in funding this year.

In a statement from Arcady Sosinov, FreeWire Chief executive, he confirmed the partnership. He also went ahead to express his excitement for the collaboration. Arcady spoke about the many considerations put in place before arriving at a decision. In addition to that, Sosinov referred to the deal as an enormous opportunity to venture in for the next ten years.

A partner in Riverstone also gave details on the deal. Robert appreciated the Electric vehicles industry and commented on the coming transition in the auto motor industry.

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