Tesla makes first-of-its-kind $100 million deal with oil giant BP: 'It was only a matter of time…'

The dirty fuel industry is starting to take notice of the increasing presence of electric vehicles in the automotive market, and one oil giant has taken steps to make the most of this popularity.

BP announced in a statement that it has signed an agreement with Tesla that will bring $100 million worth of Supercharger hardware to gas stations and third-party locations in the United States.

We're buzzing to announce an investment of $100m into @Tesla ultra-fast #EV chargers in the US.

We'll install and operate them across our bp pulse network – marking a first for the industry – and roll them out across key bp, @ThorntonsLLC, @TATravelCenters and @ampm sites.

This… pic.twitter.com/uJ4UTWkQCt

— bp (@bp_plc) October 26, 2023

While the technology will be Tesla's, BP is packaging the fast-charging stations for EVs under its own brand, BP Pulse. 

"The investment will facilitate the expansion of the bp pulse public network across the US, while also enabling support for EV fleet customers by deploying chargers at their private depots," the statement read.

BP also said it's the first time that Tesla ultra-fast charging hardware has been bought for the purpose of establishing an independent charging network.

The oil company added that Pulse chargers will be compatible with vehicles featuring both Combined Charging System and North American Charging Standard connectors.

Tesla's senior director of charging infrastructure, Rebecca Tinucci, said in the statement: "At Tesla, we're driven to enable great charging experiences for all EV owners." 

Tinucci continued, "Selling our fast-charging hardware is a new step for us, and one we're looking to expand in support of our mission to accelerate the world's transition to sustainable energy."

Commenters on the news on Electrek's website weren't too surprised by the deal.

"It was only a matter of time before charging stations started appearing at actual fuel stations," one user said. "EV adoption is only going up, and if companies like BP want to continue to future proof their business, then adopting a strategy like this was the smart way to go." 

"These deals are the future of charging locations," another added.

According to data from Cox Automotive, shared by Reuters, EV sales in the U.S. during the third quarter of 2023 were 50% higher when compared to the same period a year ago. EVs accounted for a record 7.9% of automotive sales during this period.

While Tesla's share of the EV market dropped from 62% in the first quarter to around 50% in quarter three, it still sold 300,000 models from July through September, per Reuters.

With EV sales increasing, the dirty-fuel industry needs to adapt to the change. 

Hopefully, this is a sign of things to come, with more and more internal-combustion-engine machines replaced by alternative models that produce zero planet-warming pollution while out on the road.

Join our free newsletter for cool news and actionable info that makes it easy to help yourself while helping the planet.