French oil giant Total has snapped up a London electric vehicle charging point company off national rival Bollore Group.
Source London - which operates more 1600 on street charge points in the Capital - was launched in 2010.
Total is taking over the management and operation of Source London, which aims to increase tenfold the number of charge points within five years across the City.
Charging points are located in residential streets, public car parks, supermarkets and shopping centres. Electric car vehicle users must register with Source London's website and pay an annual fee of £48.
Total already owns charge point companies in Amsterdam and Brussels.
The company said: “This acquisition in the United Kingdom reinforces Total’s position as a key player in electric mobility in Europe.
“The Group is pursuing its development in major European cities, in line with its ambition of operating more than 150,000 electric vehicle charge points by 2025.”
Alexis Vovk, president at Total, added: “By combining today these existing infrastructures with Total’s know-how in terms of installation, operation and management of public electric vehicle charging networks, we are starting a new phase, supporting the expansion of electric mobility in London.
“In collaboration with our partners and the local authorities, we will be able to meet both the strong growth in demand for on-street charge points and the needs for new mobility solutions of London users.”
No financial details for the deal were released.
