TotalEnergies separates from 1,600 service stations in Europe, the end of thermal vehicles in question

As you probably know, Europe plans toban the sale of thermal cars to promote electric vehicles in order to fight once morest global warming. Even if this project is only planned for 2035, TotalEnergies is already taking measures accordingly. How does the oil giant want to anticipate this law? We explain all this to you in this article.

2,200 service stations sold to a Canadian brand

In 2035, the sale of new thermal vehicles might be prohibited. Thus, TotalEnergies is preparing to sell more than 2,000 service stations. Located in the Netherlands, Belgium, Luxembourg and Germany, they will be sold to Couche-Tard. This Canadian distribution group will buy a total of 2,200 TotalEnergies service stations for 3.1 billion euros.

Today, Couche-Tard is present in some twenty countries around the world. Its 14,000 stores brought in almost 60 billion euros Last year. Increasingly present in Europe, they market food and non-food products.

In France, we don’t know much regarding this sign. The latter tried to settle down by trying to buy Carrefour in 2021. But the Minister of the Economy had refused, citing a risk for “French food sovereignty”. These so-called local shops are often associated with service stations. Thus, they rely on emergency purchases. If I tell you that they stay open very late at night, you understand where the surprising name of this Canadian brand comes from.

Be that as it may, it is indeed to anticipate this stoppage of sales of thermal vehicles that TotalEnergies made the decision to part with a few thousand service stations in several European countries. Thus, the oil giant wants to focus on the development of “new mobility”, namely electric and hydrogen. The group has also specified that it plans to develop certain activities including electric charging outside service stations, wholesale fuel sales and AS24 stations reserved for professionals.

TotalEnergies anticipates a loss of revenue generated by the end of sales of new thermal vehicles

With the end of the sale of thermal vehicles, TotalEnergies, if it does nothing, risks suffering a big loss of income. Indeed, its fuel sales might reduce significantly in Europe. Electric cars will not need to be recharged at stations. Motorists will be able to refuel them at home or at their place of work. Well aware of the consequences of this European law, the group was forced to take decisions upstream.

To discuss this transaction with the Couche-Tard group, TotalEnergies speaks of a “transformation into a multi-energy company”. In a recent statement, the oil giant said it aims toachieve the famous carbon neutrality in 2050.

Please note that this operation is not yet finalized. The sale of these 2,200 European service stations will only be done at the end of the year. And this, only if the competition authorities give their agreement. Note that in recent years, TotalEnergies has already sold several networks of service stations in Switzerland, England and Italy.

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