British Petroleum cuts jobs in EV arm
Amidst a shifting landscape in the electric vehicle (EV) charging realm, BP is recalibrating its strategy, trimming its workforce by over 10% and pulling back from select markets. CEO Murray Auchincloss spearheads this effort to streamline operations and prioritize profitability amid skepticism from investors regarding BP’s transition away from traditional oil and gas. The overhaul at BP Pulse, its EV charging division, involves consolidating operations from 12 countries to just four strategic markets: the United States, Britain, Germany, and China, where EV adoption is anticipated to surge. More than 100 positions have been axed, with some employees reassigned internally.
Despite industry-wide challenges with slower-than-expected EV uptake, BP remains steadfast in its commitment to EV infrastructure, aiming to ramp up its charging network from 29,000 to 100,000 points by 2030. Emphasizing a focus on fast-charging hubs, BP bids farewell to its home EV charging venture. With eyes set on anticipated earnings of $1.5 billion by 2025, BP aligns its aspirations with the evolving needs of the sustainable transportation sector, carving a path forward amidst market fluctuations.
