BP is shutting down its low-carbon mobility unit.
The low-carbon mobility team to be axed includes fewer than ten people, and its activities will be integrated elsewhere in the group, media reports quoted a BP spokesperson.
However, there will be no impact on BP Pulse, the company’s electric vehicle charging business.
According to media reports, BP is ending its investigation into the use of hydrogen and liquefied natural gas for transportation, specifically for trucks.
The energy company has retreated from its five-year strategy to diversify away from oil and gas, according to the Financial Times.
As per a report in Battery Insider, BP had in February announced a strategy to refocus on oil and gas, reduce renewable spending, and decrease its annual investment in electric vehicle charging. The company had reiterated its focus on EV growth in Britain, Germany, the US, China, India, and the Iberian Peninsula.
It also announced increasing annual oil and gas spending to $10 billion and aiming for a $20 billion disposal program through 2027.
The unit, responsible for developing electric, hydrogen, and other low-emission solutions for vehicles, will be phased out and closed, as per media reports.
The reports also mentioned that the latest development comes days after the head of BP’s electric vehicle charging business, BP Pulse, left the company. It also recently disclosed plans to sell its Austrian EV business.
