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Shell to Shutter Over 1,000 Gas Stations by 2025, Shifting Focus to Electric Vehicle Charging
Energy giant Shell is planning a significant restructuring of its retail business, with plans to close more than 1,000 gas stations by the end of 2025. This move comes as the company intensifies its focus on electric vehicle (EV) charging and other convenience offerings.
This decision marks a notable shift in strategy. Shell CEO Wael Sawan had previously indicated a return to core oil and gas operations. However, the company now appears to be doubling down on the EV transition, having already installed 70,000 public charging stations globally.
While Shell has not yet specified which stations will be closed, speculation suggests that states with a high density of Shell stations, such as Texas, California, Nevada, Utah, South Dakota, Iowa, and Minnesota, may be among the first impacted. The closures could lead to job losses, particularly in Texas, where Shell has a significant presence in oil and gas exploration and development.
Shell’s acquisition of EV charging company Volta has undoubtedly contributed to its rapid expansion in the EV charging sector. However, the long-term success of this strategic pivot remains to be seen. While consumer interest in electric vehicles continues to grow, the higher upfront costs compared to gasoline-powered cars remain a barrier for many.