BERLIN (AP) — Oil and gas giant Shell is buying ubitricity, a major provider of electric vehicle charging points in Europe.
Shell said Monday that it would buy a 100% stake in the Berlin-based startup, without disclosing the price.
“The move represents a further step in Shell’s efforts to support drivers as they switch to lower-carbon transport,” the company said.
The deal, which is subject to regulatory approval, will give Shell ownership of the biggest public EV charging network in Britain with more than 2,700 charge points.
Ubitricity also has smaller public networks in Germany and France, and has installed over 1,500 charge points for fleet customers across Europe.
The company's focus has been to integrate charge points into existing street infrastructure such as lamp posts, to reduce the cost of laying new power lines down streets.
Experts say easier access to charging facilities is key to the successful rollout of electric vehicles.
Shell has said it wants to achieve net zero emissions by 2050 or sooner.
7 Stocks to Watch When Student Debt Forgiveness Gets Passed
Now that the Biden administration is fully in charge, student debt forgiveness has moved to the front burner. Consider these numbers. There is an estimated $1.7 trillion in student debt. The average student carries approximately $30,000 in student loans.
If $10,000 of student debt were to be canceled, there are estimates that one-third of borrowers (between 15 million to 16.3 million) would become debt-free. Of course, if the number hits $50,000 as some lawmakers are suggesting the impact would even greater.
Putting aside personal thoughts on the wisdom of pursuing this path, it has the potential to unleash a substantial stimulus into the economy.
And as an investor, it’s fair to ask where that money would go. After all, there’s no harm in having investors profit from this stimulus as well.
A counter-argument is that the absence of one monthly payment may not provide enough money to make an impact. However, Senator Elizabeth Warren referred to the effect student loans have in preventing many in the millennial and Gen-Z generations from pursuing big picture life goals such as buying a house, starting a business, or starting a family.
With that in mind, we’ve put together this special presentation that looks at 7 stocks that are likely to benefit if borrowers are set free from the burden of student loans.
View the "7 Stocks to Watch When Student Debt Forgiveness Gets Passed".