Britain’s EG Group to acquire 20K Tesla chargers By Investing.com

EG Group announced on Monday that the British petrol station operator will acquire Tesla (NASDAQ:) ultra-fast charging units in a bid to improve electric vehicle charging across Europe and align with Tesla’s efforts to expand its charging business.

EG Group, owned by the billionaire Issa brothers, who also control British supermarket chain Asda, plans to significantly expand its charging network. The expansion will see the deployment of more than 20,000 electric vehicle chargers at its existing sites, a substantial increase from the 600 units currently in operation.

According to EG Group, the first set of chargers is expected to be installed by the end of this year. However, specific details regarding the overall cost and timeline of the entire acquisition were not disclosed.

Tesla chargers integrated into the EG Group network will operate as an “open network”, providing accessibility to all electric vehicle (EV) drivers, regardless of vehicle brand. A decision that is part of the objective of promoting inclusiveness and convenience within the electric vehicle charging infrastructure.

“Rapidly installing reliable, easy-to-use electric vehicle charging infrastructure is the right step toward a sustainable future,” said Rebecca Tinucci, senior director of charging infrastructure at Tesla.

Shares of TSLA rose 0.74% Monday in pre-market trading.