Shell Acquires Volta Dual Charging And Media Network via insideevs.com
Volta, a very unique charging network, will be acquired by Shell USA in an all-cash transaction valued at approximately $169 million.
Volta is a quite interesting company, as it operates a dual charging and media network - charging stalls display ads while the charging itself is usually free.According to the recent Q3 2022 financial report, Volta has some 983 charging sites in the United States, including 3,093 charging stalls and 5,627 screens . The number of stalls increased by some 45 percent year-over-year.
Even the more conventional charging networks, which require EV drivers to pay for charging, were struggling during the past decade. The report indicates that in Q3 alone, the company noted a net loss of $42.5 million, while during the nine-month period, it was $128 million, compared to $38 million in revenues.
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