BP to Buy UK’s Largest Electric Vehicle Charging Company

BP Plc plans to acquire the U.K.’s largest electric vehicle charging company, the latest in a string of acquisitions by major oil companies in the growing market for greener transport.

The British oil major entered into an agreement to buy Chargemaster, which has more than 6,500 charging points across the U.K., according to a statement June 28. It will pay about 130 million pounds ($170 million) for the purchase, staying within the $500 million annual budget for clean energy, Tufan Erginbilgic, BP’s downstream chief executive officer, said in an interview.

Customers will see the new chargers in ...