Ampol Acquires Evie Networks in $225 Million Deal to Build National Charging Giant

Australian fuel retailer Ampol has executed an agreement to acquire 100 per cent of electric vehicle charging operator Evie Networks (Fast Cities Australia Pty Ltd) for $225 million.  

Subject to regulatory clearance from the Australian Competition and Consumer Commission (ACCC), the transaction is targeted for completion in the first half of 2027. Until the acquisition is finalized, Ampol and Evie will continue to operate as independent entities.

Expanding the National Charging Footprint

Evie Networks, established in 2017, currently operates more than 1,030 electric vehicle charging bays across the country.

Once integrated with Ampol’s existing ‘AmpCharge’ infrastructure—which began its rollout in 2022—the combined entity will establish a national network of approximately 1,425 charging bays spread across more than 400 locations in every Australian state and territory. This scale positions Ampol significantly ahead of rival fuel operators; for context, BP Pulse reports nearly 100 sites, while Shell (operated by Viva Energy) only began implementing its first independent sites in 2025 alongside a tie-up with Chargefox.

In its official release, Ampol highlighted that the acquisition secures a portfolio of strategically located sites with long-dated average lease tenures and established electrical grid access. Ampol projects that the restructured EV charging business will break even during its first full year of operation in 2028.

The Strategic Shift from Petrol to Plugs

The $225 million investment aligns directly with changing consumer behavior and the shifting economics of traditional fuel production.

Australian EV sales have surged, reaching a record 24.9 per cent market share of all new passenger vehicle sales in August 2026, marking the first time EVs outsold both petrol and diesel passenger models. The Tesla Model Y has also consistently challenged traditional combustion leaders, topping overall new-vehicle sales charts in May, June, and August 2026.

This transition is being accelerated by record fuel prices driven by geopolitical tensions, alongside persistent inflation and cost-of-living pressures. Furthermore, the Australian Competition and Consumer Commission (ACCC) has noted that increased work-from-home flexibility has contributed to a broader decline in national petrol consumption.

Ampol CEO Matt Halliday previously flagged the financial challenges facing domestic fuel refining, particularly at the company's Queensland refinery. Halliday noted that as the volume of hybrid and electric vehicles increases, the economic viability of producing and transporting petrol becomes strained compared to diesel and jet fuel.

"For Ampol, EV charging is ultimately a question of disciplined investment at the right time," Halliday said in a statement. "That means closely monitoring customer behaviour, EV uptake, site economics, grid connections and the broader charging network to ensure our capital is deployed where it can create the greatest value."

While the margins on retail electricity are lower than traditional petrol sales, Ampol anticipates profitability driven by the higher frequency of customer charging sessions. Despite the pivot in passenger transport, diesel sales remain robust due to heavy reliance across the industrial, farming, and long-haul transport sectors, providing ongoing stability for the broader fuel retail business.