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TotalEnergies (TTE) Installs Over 1,000 HPC for EV in France
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TotalEnergies SE (TTE - Free Report) announced that it has installed and started operating more than 1,000 high-power chargers (HPC) for electrical vehicles nationwide. With the achievement of this electric mobility milestone, TotalEnergies is now the market leader for ultra-fast charging on French motorways and highways.
The company has already deployed HPC points at more than 180 service stations in France as part of its commitment to assist the growth of electric mobility. It intends to reach 500 stations by 2026. By the end of 2023, TTE will have around 250 stations that are ready to go, providing customers with ultra-fast charging every 62 miles (100 kms) in cities and on highways.
Focus on Electric Mobility
TotalEnergies is dedicated to providing electric car owners with a flawless experience, ensuring each of its high-power charging stations has welcoming waiting spaces with WiFi, sanitary and catering facilities, and access to each of the main payment methods.
In addition to its service stations, TTE runs around 18,000 charge points throughout France in local governments, commercial fleets, peri-urban areas, parking lots and private residences.
In September 2023, the company received a contract to install and operate 1,100 high-power charge points for electrical vehicles (EV) in rural and urban areas of Germany, with up to 200 kilowatts (kW) capacity. These charging stations will be arranged in EV hubs at 134 places across eastern, central and western Germany. The electricity used to power these new charging stations will come solely from renewable sources.
TotalEnergies supports the growth of electric mobility on a broad scale by making major investments in the establishment of charging infrastructures for electric cars that are accessible to as many people as possible, with approximately 48,000 charging stations in operation by 2023. It has already installed 300 EV fast-charging hubs to enable quick charging on highways and in high-traffic areas. TTE plans to have 1,000 sites in Europe by 2028.
With a portfolio of more than 30,000 charging stations operating or being deployed in Paris, London, Brussels, Ghent, Antwerp, Flanders, Amsterdam and its region, Berlin, Singapore and Madrid, the company pursues its deployment in major metropolitan regions across the world.
High-power charging enables compatible EVs to recharge at a power of more than 50 kW and up to 300 kW. Depending on the vehicle, this amount of electricity may restore a range of nearly 62 miles in six minutes and recharge the battery to about 80% capacity in 20 minutes.
Promising EV Prospects
Per the International Energy Agency (IEA), the use of EVs is going to increase globally and EV sales are set to contribute around 65% to total car sales in 2030. EV sales increased 55% in 2022 compared with the 2021 level. IEA expects sales to improve approximately 25% every year during 2023-2030.
A well-organized EV charging network will be necessary due to the enormous rise in EV usage over the next few years, which will also help reduce emissions from vehicles.
Along with TotalEnergies, other oil and gas companies like Shell plc (SHEL - Free Report) and BP PLC (BP - Free Report) are also expanding their EV charging operations.
In August 2023, Shell installed high-speed EV chargers at three of its service stations in Singapore. These new EV chargers are the fastest publicly available chargers in the country, with ratings up to 180 kW. According to Shell, these chargers are more than three times faster than the 50 kW chargers at its other stations.
The company’s long-term (three- to five-year) earnings growth rate is 9.33%. It delivered an average earnings surprise of 10.7% in the last four quarters.
In February 2023, BP announced its plans to invest $1 billion by 2030 in EV charging stations across the United States. Hertz and BP announced their plan to install fast-charging infrastructure at Hertz locations in important cities. BP has 22,000 charge points around the world and aims to have more than 100,000 by 2030.
BP’s long-term earnings growth rate is 6.51%. It delivered an average earnings surprise of 7.7% in the last four quarters.
Price Performance
In the past three months, shares of TotalEnergies have risen 13.5% compared with the industry’s 12.6% growth.
Image Source: Zacks Investment Research
Zacks Rank & Stock to Consider
TotalEnergies currently carries a Zacks Rank #3 (Hold).
CEG’s long-term earnings growth rate is 23.3%. The Zacks Consensus Estimate for the company’s 2023 earnings per share indicates an increase of 1,216.3% year over year.
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TotalEnergies (TTE) Installs Over 1,000 HPC for EV in France
TotalEnergies SE (TTE - Free Report) announced that it has installed and started operating more than 1,000 high-power chargers (HPC) for electrical vehicles nationwide. With the achievement of this electric mobility milestone, TotalEnergies is now the market leader for ultra-fast charging on French motorways and highways.
The company has already deployed HPC points at more than 180 service stations in France as part of its commitment to assist the growth of electric mobility. It intends to reach 500 stations by 2026. By the end of 2023, TTE will have around 250 stations that are ready to go, providing customers with ultra-fast charging every 62 miles (100 kms) in cities and on highways.
Focus on Electric Mobility
TotalEnergies is dedicated to providing electric car owners with a flawless experience, ensuring each of its high-power charging stations has welcoming waiting spaces with WiFi, sanitary and catering facilities, and access to each of the main payment methods.
In addition to its service stations, TTE runs around 18,000 charge points throughout France in local governments, commercial fleets, peri-urban areas, parking lots and private residences.
In September 2023, the company received a contract to install and operate 1,100 high-power charge points for electrical vehicles (EV) in rural and urban areas of Germany, with up to 200 kilowatts (kW) capacity. These charging stations will be arranged in EV hubs at 134 places across eastern, central and western Germany. The electricity used to power these new charging stations will come solely from renewable sources.
TotalEnergies supports the growth of electric mobility on a broad scale by making major investments in the establishment of charging infrastructures for electric cars that are accessible to as many people as possible, with approximately 48,000 charging stations in operation by 2023. It has already installed 300 EV fast-charging hubs to enable quick charging on highways and in high-traffic areas. TTE plans to have 1,000 sites in Europe by 2028.
With a portfolio of more than 30,000 charging stations operating or being deployed in Paris, London, Brussels, Ghent, Antwerp, Flanders, Amsterdam and its region, Berlin, Singapore and Madrid, the company pursues its deployment in major metropolitan regions across the world.
High-power charging enables compatible EVs to recharge at a power of more than 50 kW and up to 300 kW. Depending on the vehicle, this amount of electricity may restore a range of nearly 62 miles in six minutes and recharge the battery to about 80% capacity in 20 minutes.
Promising EV Prospects
Per the International Energy Agency (IEA), the use of EVs is going to increase globally and EV sales are set to contribute around 65% to total car sales in 2030. EV sales increased 55% in 2022 compared with the 2021 level. IEA expects sales to improve approximately 25% every year during 2023-2030.
A well-organized EV charging network will be necessary due to the enormous rise in EV usage over the next few years, which will also help reduce emissions from vehicles.
Along with TotalEnergies, other oil and gas companies like Shell plc (SHEL - Free Report) and BP PLC (BP - Free Report) are also expanding their EV charging operations.
In August 2023, Shell installed high-speed EV chargers at three of its service stations in Singapore. These new EV chargers are the fastest publicly available chargers in the country, with ratings up to 180 kW. According to Shell, these chargers are more than three times faster than the 50 kW chargers at its other stations.
The company’s long-term (three- to five-year) earnings growth rate is 9.33%. It delivered an average earnings surprise of 10.7% in the last four quarters.
In February 2023, BP announced its plans to invest $1 billion by 2030 in EV charging stations across the United States. Hertz and BP announced their plan to install fast-charging infrastructure at Hertz locations in important cities. BP has 22,000 charge points around the world and aims to have more than 100,000 by 2030.
BP’s long-term earnings growth rate is 6.51%. It delivered an average earnings surprise of 7.7% in the last four quarters.
Price Performance
In the past three months, shares of TotalEnergies have risen 13.5% compared with the industry’s 12.6% growth.
Image Source: Zacks Investment Research
Zacks Rank & Stock to Consider
TotalEnergies currently carries a Zacks Rank #3 (Hold).
A better-ranked stock from the same sector is Constellation Energy Corporation (CEG - Free Report) , sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
CEG’s long-term earnings growth rate is 23.3%. The Zacks Consensus Estimate for the company’s 2023 earnings per share indicates an increase of 1,216.3% year over year.