Ampol has agreed to acquire electric vehicle charging operator Evie Networks for A$225 million, significantly expanding its presence in Australia’s public EV charging market. The transaction would add 1,031 charging bays across 322 sites to Ampol’s existing network, creating a combined network of around 1,425 charging bays across more than 400 sites. The acquisition remains subject to regulatory approval and is expected to be completed in the first half of 2027.
Key Overview
- Ampol has agreed to acquire Evie Networks for A$225 million.
- The acquisition covers 100% of Fast Cities Australia, which operates as Evie Networks.
- Evie operates 1,031 DC charging bays across 322 sites.
- Ampol’s combined network would reach around 1,425 charging bays.
- The network would span more than 400 sites.
- The transaction is subject to approval from the Australian Competition and Consumer Commission (ACCC).
- Completion is expected in the first half of 2027.
- The combined business is expected to generate around A$30 million in annualised EBITDA within three years of completion, including synergies.
Ampol Makes $225 Million EV Charging Acquisition
Ampol is expanding its electric vehicle charging business after agreeing to acquire Evie Networks for A$225 million.
The deal gives the Australian fuel retailer a much larger position in the country’s public EV charging market and accelerates its expansion beyond traditional fuel retailing.
Evie Networks is operated by Fast Cities Australia. Under the agreement, Ampol Energy will acquire 100% of Fast Cities Australia, subject to regulatory approval.
The transaction represents Ampol’s largest EV investment so far and expands the company’s existing AmpCharge network with more than 1,000 additional charging bays.
More Than 1,000 Charging Bays Added
Evie has built a substantial public charging network across Australia.
The company operates 1031 charging bays across 322 Australian sites.
The network includes 1,031 DC charging bays at 322 sites, giving Ampol access to an established EV charging infrastructure across the country.
The addition would significantly increase Ampol’s existing charging footprint and expand its reach across metropolitan and regional locations.
Combined Network to Reach About 1,425 Bays
Following completion, Ampol’s existing charging infrastructure and Evie’s network are expected to form a combined platform of approximately 1425-bay national charging network.
The combined network is expected to have around 1,425 charging bays across more than 400 sites.
This would give Ampol a significantly larger presence in Australia’s public EV charging market and strengthen its ability to provide charging services across a broader range of locations.
Ampol’s EV Charging Strategy Accelerates
The acquisition builds on Ampol’s existing investment in electric vehicle charging.
Ampol has been developing its AmpCharge network as part of its strategy to expand its presence in EV charging and support the changing needs of Australian motorists.
The acquisition of Evie now gives Ampol a faster route to expanding its charging footprint.
Rather than developing all new charging locations organically, Ampol will gain access to an established network spanning shopping centres, highway locations, fuel stations and other sites.
This is particularly relevant as Ampol continues to broaden its business from traditional fuel retailing towards a wider energy and mobility offering.
Charging Demand Continues to Grow
Ampol’s existing charging business has also recorded stronger utilisation.
Charging sessions across Ampol’s network increased 116 per cent during the first half of 2026.
The company also recorded a 120 per cent increase in the amount of energy delivered through its chargers during the same period.
The growth highlights the increasing use of public charging infrastructure and provides context for Ampol’s decision to expand its charging network through the acquisition.
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Deal Could Generate A$30 Million in Annualised EBITDA
The transaction is also expected to contribute financially to the combined business.
The combined Ampol-Evie business is expected to achieve A$30 million annualised EBITDA, including synergies, within three years of completion.
The expected earnings contribution gives the acquisition a commercial dimension alongside its role in expanding Ampol’s EV infrastructure.
The deal therefore combines network expansion with a longer-term financial opportunity as Ampol integrates Evie’s operations into its broader energy and mobility business.
Regulatory Approval Still Required
The acquisition has not yet been completed.
The transaction remains subject to approval from the Australian Competition and Consumer Commission.
Completion is expected to complete in the first half of 2027, subject to the required approval.
Until the transaction receives the necessary approvals and closes, Ampol and Evie remain separate businesses.
A Shift Beyond Traditional Fuel Retailing
The acquisition reflects Ampol’s broader transition from a traditional fuel retailer towards a wider energy and mobility business.
By adding Evie’s established charging network, Ampol can expand its presence in public EV charging while continuing to operate its existing fuel and convenience businesses.
The transaction represents another step in Ampol’s move towards becoming a broader mobility and energy provider.
The acquisition therefore links two parts of the transport-energy market: Ampol’s established roadside footprint and Evie’s dedicated EV charging infrastructure.
Outlook
Ampol’s proposed acquisition of Evie Networks would significantly increase its presence in Australia’s public EV charging market.
The A$225 million transaction would add 1,031 charging bays across 322 sites and create a combined network of around 1,425 bays across more than 400 locations.
If approved, the deal is expected to close in the first half of 2027. The combined business is also expected to generate around A$30 million in annualised EBITDA within three years of completion, including synergies.
For Ampol, the acquisition represents a major expansion of its EV charging business and another step in broadening its energy and mobility offering.
FAQs
1. How much is Ampol paying for Evie Networks?
Ampol has agreed to acquire Evie Networks for A$225 million.
2. How many charging bays does Evie operate?
Evie operates 1,031 DC charging bays across 322 sites in Australia.
3. How large will Ampol’s combined charging network become?
The combined network is expected to have around 1,425 charging bays across more than 400 sites.
4. When is the acquisition expected to close?
The transaction is expected to be completed in the first half of 2027, subject to approval from the Australian Competition and Consumer Commission.
Sources: Traders Union | Yahoo Finance Australia | Carsales
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