The share prices of both Stockland Corporation Ltd (ASX: SGP) and Ampol Ltd (ASX: ALD) are up close to 1% in response to an electric vehicle charging station deal. The ASX 200 energy share is going to provide AmpCharge charging bays at Stockland retail centres.
Ampol may be best known as a petrol business, with a national network of service stations, but it's also diversifying and looking to the future with electric charging stations.
Image source: Getty Images
Electric vehicle charging station deal
Ampol said its fast and ultra-fast electric (EV) charging infrastructure will be installed across 16 Stockland town centres.
Customers and tenants at Stockland will have access to over 100 charging bays from the ASX 200 energy stock, with people able to fully charge their cars in an hour or less, under the current roll-out plan.
For Stockland, this is in line with the business' environmental, social and governance (ESG) strategy, which wants to deliver "sustainable solutions".
The Stockland managing director and CEO Tarun Gupta said:
Across our portfolio, we are continually exploring ways in which we can support our customers' transition to a low-carbon future. Last year, our town centres saw nearly 1.8 million visits on average each week, and as the uptake of EVs grows in Australia, we will be providing customers with simple and accessible charging.
Our ESG strategy is where our ambition meets tangible, real-world actions – actions that can facilitate more connected, resilient and future-ready communities. This partnership provides an opportunity for us to expand the roll-out of EV charging infrastructure across Stockland's workplaces and communities in the future, making it easier for people to charge their vehicles wherever they live, work, socialise or shop.
The EV charging infrastructure will be installed over the next year and a half, with the number of charging bays per shopping centre ranging between six to 12, based on current customer demand. Each charger can service two cars, providing one car up to 150kW or two cars up to 75kW when charging simultaneously.
According to Ampol, in 2023 EV purchases in Australia more than doubled from 2022, with the total number of electric vehicles on Australia's roads rising above 180,000.
Ampol and Stockland "will continue to look at opportunities to meet the evolving needs" of Stockland's customers.
ASX 200 energy stock comments
The managing director and CEO of Ampol, Matt Halliday, said:
This new partnership enables us to broaden our EV infrastructure network to Stockland's diversified property portfolio, marking a significant progression in our commitment to supporting our customers and partners as they navigate their energy transition journeys.
We look forward to rolling out this critical infrastructure to accommodate an ever-growing number of EVs on our roads.
Ampol share price snapshot
Over the past year, the Ampol share price has gone up almost 30%, as we can see on the chart below.
In case you were wondering, the Stockland share price is up around 5% in the past year.
