Total acquires Source London EV charging network

Energy company Total has acquired Source London, the electric vehicle charging network with 1,600 on-street locations, for an undisclosed sum.

The deal means Total will now take over management and operation of Source London, Blue Point London’s citywide charging network.

Source London has been running for 10 years and said the network has been developed "in cooperation with London Boroughs".

Total is expecting to close the transaction by the end of the year and said current users of Source London will not be impacted by the change in ownership.

Total is expecting to expand the Source London network to increase “tenfold” over the coming years due to London’s net zero ambitions by 2050.

The company said it is committed to powering the charging network with electricity 100% guaranteed from renewable sources, to be supplied by its subsidiary Total Gas & Power Limited.

While Total already installs and operates charge points in Amsterdam and Brussels, it said this UK acquisition cements its position as a key player in electric mobility across Europe.

The group has a wider ambition of operating more than 15,000 EV charging points across Europe by 2025.

Alexis Vovk, Total president marketing and services, said: “By combining the existing infrastructure with Total’s know-how in terms of installation, operation and management of public EV charging networks, we are supporting the expansion of electric mobility in London.

“In collaboration with our partners and the local authorities, we will be able to meet both the strong growth in demand for on-street charge points and the needs for new mobility solutions of London users.”