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bp announced a deal in which bp pulse, bp's EV charging network business, will acquire ultra-fast charging hardware units from Tesla for $100 million. 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 introduction of Tesla's chargers to the bp pulse network is the first time the hardware will be purchased for an independent EV charging network.
The roll-out is planned to begin in 2024 and locations will include key sites across the bp family of brands, including TravelCenters of America, Thorntons, ampm; and Amoco, as well as at bp pulse's large-scale Gigahub charging sites in major metropolitan areas and at third-party locations, such as Hertz locations, as part of previously announced collaborations. The first installation sites have been identified in Houston, Phoenix, Los Angeles, Chicago; and Washington D.C.
Tesla's chargers will also be deployed at select bp pulse fleet customer depots. By pairing bp pulse's intelligent charge management software, Omega, with Tesla's fast and reliable chargers, bp pulse gains the distinctive capability to oversee the entire charging process for EV fleets, providing a comprehensive solution for its fleet customers.
The Tesla ultra-fast chargers, which have an output of 250 kW, will be branded, installed, and operated by bp pulse. The chargers will be fitted with Tesla's 'Magic Dock', which is compatible with both North American Charging Standard (NACS) and Combined Charging System (CCS) connectors. This enables EVs from other major vehicle manufacturers to use the Tesla chargers on the bp pulse's network, regardless of whether they use CCS or NACS ports. To further improve user experience, the Tesla chargers will support use of the Plug and Charge protocol, which simplifies and automates payments. As is Tesla's current policy, third-party operated ultra-fast chargers meeting Tesla's reliability and functionality requirements are featured in Tesla's vehicle UI and apps, and bp pulse expects to uphold those requirements on its network.
In addition to this deal with Tesla, bp pulse aims to continue deploying additional fast and reliable charging points at high-demand locations, such as airports, major metropolitan areas, and bp-owned and properties along Alternative Fueling Corridors. Furthermore, bp has been awarded grant funds through programs like National Electric Vehicle Infrastructure (NEVI) and California Energy Commission (CEC) to provide charging infrastructure at sites in California, Pennsylvania, Colorado, and Kentucky.
In February 2023, bp announced plans to invest $1 billion in America's EV charging infrastructure by 2030 with an aim of investing $500 million in the next two to three years. The five transition growth engines -- bioenergy, convenience, EV charging through the charging business bp pulse, hydrogen, renewables, and power -- made up around 30% of bp's total investment in 2022, up from around 3% in 2019.