The Motor Fuel Group (MFG) has announced a £2.5 billion agreement with Morrisons to acquire 337 petrol forecourts as it targets 800 installations of 150kW ultra-rapid EV chargers in five years.
Revealed yesterday (30 January), the partnership also relates to the proposed acquisition of over 400 associated sites from Morrison across the UK that are also intended for “ultra-rapid electric vehicle [EV] charging development.”
MFG confirmed it is targeting the installation of 800 ultra-rapid EV chargers across these 737 total acquired sites in the next five years.
The agreement will also see Morrisons take a minority stake of approximately 20% in MFG, whilst entering into commercial and supply agreements.
Rami Baitiéh, CEO of Morrisons said the partnership will mean “Morrisons customers will continue to see a competitive and attractive forecourt offering, including expanded access to EV charging, while also
benefitting from greater focus on investment in Morrisons’ core food business. We are delighted to have
such a strong partner in MFG and look forward to the opportunities a combined MFG and Morrisons
forecourt offering will provide.”
According to MFG, the acquisition will bring its network of EV chargers to over 1,300 sites, allowing it to grow to the “UK’s number two convenience store operator.”
William Bannister, CEO of MFG praised the partnership as “the next major growth investment for MFG.”
Read more: Current+
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