The TotalEnergies oil group has decided to sell 1,600 of its service stations in Europe in order to prepare for a ban on the sale of electric cars in 2035. For the moment, France is not affected by this revolutionary strategy.
It’s almost done. Starting in 2035, car manufacturers will have a total ban on selling thermal cars in Europe, with some exceptions for very confidential brands. A measure that has not yet been voted on, while nine countries, including Germany, Italy and Poland, protest against this measure. Our neighbors on the other side of the Rhine especially want synthetic fuels to remain permitted, which is not achieved.
a sizeable sale
But if nothing has been done yet, it shouldn’t take long, especially since France is determined to follow Europe. This seems to worry some companies, which are beginning to take measures to avoid being caught off guard. This is particularly the case for TotalEnergies, which announced an unexpected strategy in a press release.
The French oil group has decided sell all its service stations in Germany and the Netherlands as well as 60% of those currently present in Belgium and Luxembourg. The company thus intends to anticipate the ban on the sale of internal combustion cars in the Old Continent.
🇪🇺 Service stations in Europe⛽️: TotalEnergies partners with @CouchTardQcthe Canadian leader in convenience stores, in Belgium and Luxembourg and sells its networks in Germany and the Netherlands
— TotalEnergies Press (@TotalEnergiesPR) March 16, 2023
A maneuver that allows you to resell your infrastructure before the demand for fuel falls too low, which in the long run could cause the value of the stations to fall. On the other hand, thea France is not currently affected by this strategy, and all the service stations that we currently have will continue to belong to the company directed by Patrick Pouyanné.
Total, therefore approximately 1,600 stations will be resold to the Canadian food and fuel distribution group Couche-Tard, within the framework of a joint venture that has just been created. On the other hand, the company has not yet communicated a precise date on these sales. we only know that the operation will be finalized before the end of the year.
What impact?
Truth be told, it shouldn’t change much for customers. In fact, the oil group specifies that theThe corresponding service stations will continue to use the TotalEnergies brand as long as they are supplied by the latter. This should be the case for at least five years. They could then take on Couche-Tard colors or opt to adopt an entirely new brand, while the Canadian company is unknown in Europe.
Without detailing the exact amount, TotalEnergies emphasizes that this proposed transaction is based on ” an enterprise value of 3,100 million euros “as specified by the AFP relayed by the site Knowledge of Energies. The French group explains that this sale is part of its strategy of ” transformation into a multi-energy company and on its ambition to achieve carbon neutrality by 2050« .
To tell the truth, these alienations are not unprecedented, since these have already started in 2015 in Italy, Switzerland and the UK. Therefore, TotalEnergies now wants to focus on developing its activities around electric mobility. The company has already installed numerous fast charging stations throughout France and the rest of Europe.
Thus, it competes with Ionity and Fastned among others. It now surpasses the Tesla Superchargers network thanks to the installation of new 300 kW terminals last December in Île-de-France and Bourgogne-Franche-Comté. TotalEnergies also plans develop hydrogen distribution as well as the sale of fuel wholesale and for professionals.
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