Royal Dutch Shell Buys Electric Vehicle Charging Network Firm NewMotion

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Royal Dutch Shell ( RDS.A ) has agreed to acquire NewMotion, the operator of electric vehicle charging stations in Europe said in statement.

"Under the terms of the deal, NewMotion will remain focused on accelerating its mission in Europe by delivering more innovative smart-charging solutions to homes, businesses and public parking spaces," NewMotion said. "The acquisition will help NewMotion enhance its electric vehicle charging services turning more parking spaces into charging stations as well as improving users charging experience across Europe."

NewMotion has over 50,000 charging locations in 22 countries, according to its web site.

The financial terms of the deal weren't disclosed.

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This article appears in: Investing , ETFs
Referenced Symbols: RDS.A , RDS.B , RDS/B

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