Motor Fuel Group (MFG) wants to massively expand its network of EV chargers, and to do so, it’s acquiring 337 petrol forecourts from supermarket giant Morrisons.
While on the face of the deal it appears as if MFG is simply doubling down on its existing forecourt footprint, this £2.5 billion agreement goes beyond a simple acquisition, signaling a significant stride in ultra-rapid EV charging development.
The acquisition is a cornerstone of MFG’s ambitious plan to expand its EV charging network, with it planning to install 800 ultra-rapid 150kW EV chargers at hubs within the first five years after the deal.
As part of the deal, Morrisons will take a minority stake in MFG of around 20%, allowing it to assist with the development of the new EV charging hubs. That will allow Morrisons to continue offering to supply food and groceries at existing sites, with the potential to expand to other MFG sites in the future.
The strategic partnership is poised to create a network of EV charging hubs, as MFG looks to diversify its portfolio away from petrol forecourts. MFG’s investment in this venture is expected to position the company as a dominant force in the UK’s ultra-rapid EV charge point operations. Their network will span over 1,300 sites, serving millions of customers weekly.
Rami Baitiéh, CEO of Morrisons, commented on the partnership, “As the needs of the customer continue to evolve, Morrisons and MFG’s partnership will see us combine our respective expertise and resources to deliver the best value for customers at the pump, in our convenience stores and in our supermarkets. It means Morrisons customers will continue to see a competitive and attractive forecourt offering, including expanded access to EV charging, while also benefiting from greater focus on investment in Morrisons’ core food business.”
William Bannister, CEO of MFG, also shared his views, stating, “MFG is proud to be a British entrepreneurial success story that is investing in jobs, critical infrastructure, and serving our communities to help the country achieve its decarbonisation transition. This strategic acquisition, and the resulting partnership with the highly respected Morrisons brand, is the next major growth investment for MFG. It is anchored in the potential for us to accelerate the roll-out of Ultra-Rapid EV charging infrastructure across the UK while also giving customers a first-class retail offer.”
The deal has also garnered attention from industry experts. Melanie Shufflebotham, Co-Founder & COO at Zapmap, remarked, “It’s fantastic to see MFG partnering with Morrisons to deliver reliable, high-powered charging for electric car drivers across the country. This acquisition of sites for EV charging amounts to a significant expansion of MFG EV Power’s Ultra-Rapid network and is undoubtedly a win for UK motorists.”