BP (NYSE:BP) is sinking $100 million into buying Tesla (NASDAQ:TSLA) Supercharger hardware. This investment makes it the first company to acquire DC fast-charging equipment from Tesla for third-party charging network use.
The purchase is part of BP’s EV charging business, BP Pulse, The Verge reported. The business intends to invest up to $1 billion by 2030 to build a nationwide charging network, including $500 million in the next two to three years.
The Supercharger hardware has a charging capacity of up to 250kW and uses a Magic Dock connector. This connector allows for compatibility with the standardized North American Charging Standard (NACS) plug from Tesla or a CCS Combo attachment supporting most other EVs.
Starting next year, BP Pulse ...