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BP to divest Austrian EV charging, other businesses - Finance news and analysis from Global Banking & Finance Review
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BP to divest Austrian EV charging, other businesses

Published by Global Banking & Finance Review

Posted on July 20, 2026

1 min read

· Last updated: July 20, 2026

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Finance Energy EV Charging Mergers & Acquisitions

BP to sell Austrian mobility, convenience and EV charging businesses

BP's Strategic Divestment in Austria

Details of the Sale Agreement

July 20 (Reuters) - BP said on Monday it had agreed to sell its Austrian mobility, convenience and electric vehicle (EV) charging businesses to Volenergy AG under confidential terms. 

BP's Portfolio Simplification Strategy

The British major is aiming to simplify its portfolio, cut costs and refocus on oil and gas investments. BP sold its mobility and convenience businesses in the Netherlands in 2025, Turkey in 2024 and Switzerland in 2022. 

Scope of the Austrian Deal

The agreement, expected to complete at the end of 2026, includes 250 BP-branded retail sites as well as electric vehicle charging infrastructure.

BP will sell 100% of its shares in BP Retail Austria GmbH, subject to regulatory approvals, and its shares in three non-operated joint ventures.

About Volenergy AG

Volenergy AG operates the largest network of fuel stations in Switzerland, with more than 730 locations. It acquired BP's Swiss retail network in 2022 and is part of the Volare Group AG.

Reporting Credits

(Reporting by Stephanie Kelly in London and Prerna Bedi in Bengaluru; Editing by Kirsten Donovan)

Key Takeaways

  • The deal covers more than 260 BP retail locations in Austria—including EV charging assets, the Austrian fleet business and BP’s interest in the Linz fuel terminal joint venture—marking a strategic exit from the Austrian downstream segment. (bp.com)
  • This divestment is part of BP’s broader downstream portfolio reshape, which includes prior divestments in Turkey (2023), Switzerland (2022), and the Netherlands (2025), and aligns with its target to sell $20 billion in assets by 2027. (bp.com)
  • BP’s EV charging ambitions have been scaled back in recent years—with job cuts in its Pulse arm and a narrowed focus on key markets like the UK, Germany, US and China—signaling a strategic retreat from some EV investments. (uk.investing.com)

References

Frequently Asked Questions

Who has BP agreed to sell its Austrian EV charging business to?
BP has agreed to sell its Austrian EV charging, mobility, and convenience businesses to Volenergy AG.
What businesses is BP divesting in Austria?
BP is divesting its Austrian mobility, convenience, and electric vehicle (EV) charging businesses.
Were the terms of the BP-Volenergy AG deal disclosed?
No, BP stated that the terms of the deal with Volenergy AG remain confidential.
When was BP's divestment of Austrian businesses announced?
BP's agreement to divest its Austrian businesses was announced on July 20.

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