Ampol plans a $225 million acquisition of Evie Networks to add more than 1,030 public EV charging bays, aiming for a network of about 1,425 bays across over 400 sites in Australia, subject to regulatory approval.

Amid rising EV adoption, BEVs outsold petrol and diesel in August, representing roughly a quarter of new car sales in Australia, underscoring a market shift.

CEO Matt Halliday says disciplined investment, solid site economics, grid connections, and understanding consumer behavior will guide the expansion of EV charging beyond Ampol’s traditional fuels business.

Ampol’s stock fell about 2.4% to A$43.05 on the announcement, with the broader energy sub-index also sliding.

Ampol previously sold its retail electricity arm, Ampol Energy, to AGL about a year ago, signaling a strategic shift in energy offerings.

Evie Networks’ current principal shareholder is Trevor St Baker, a long-time investor in Australia’s energy sector.

Industry context shows rival networks and market dynamics, including Shell/Viva Energy and BP Pulse activities, along with price pressures and inflation shaping the EV charging landscape.

Ampol’s management argues that EV charging can be profitable even with thinner margins than petrol refining, highlighting long-term potential as BEV adoption accelerates.

Evie Networks was backed by Trevor St Baker through Fast Cities Australia, a reminder of volatility and consolidation in Australia’s charging sector.

Evie Networks was founded in 2017 to enable movement powered by 100% renewable energy and now operates over 1,030 charging bays.

Australia already has more than 1,300 public charging sites nationwide, with a mix of DC fast chargers from Evie, EVX, Chargefox, Tesla, Ampol, BP, NRMA and RACV.

The merged business is expected to deliver about A$30 million in annualized EBITDA, including synergies, within three years of completion.