bp to Invest up to $60 Million in new EV Battery Research & Development Centre in Britain

Energy giant bp has unveiled plans to invest up to £50 million (around $60 million) in a new electric vehicle (EV) battery testing centre and analytical laboratory in the UK. Planned to open by the end of 2024, the new facilities will be located at bp’s existing global headquarters for its Castrol business in Berkshire.

The new facilities will help advance the development of leading fluid technologies and engineering for hybrid and fully battery electric vehicles, aiming to bring the industry closer to achieving the key tipping points for mainstream electric vehicle (EV) adoption. Castrol ON advanced e-fluids manage temperatures within the battery which enables ultra-fast charging and improves efficiency, which help EVs to go further on a single charge and extend the life of the drivetrain system. 

The site already undertakes research and development of fuels, lubricants and EV fluids and aims to become a leading hub for fluid technologies and engineering in the UK.

bp has previously announced its intention to invest up to £18 billion in the UK’s energy system by the end of 2030; this additional new investment is a further example of bp’s commitment to the country.

Louise Kingham, bp’s UK head of country., says: “We’re backing Britain. We’re fully committed to the UK’s energy transition. This additional investment will help accelerate the transition to EVs by developing solutions to help decarbonise the transport sector.  This is another example of our ambitious plans to do more, and go faster.” 

Michelle Jou, CEO Castrol, adds: “We are committed to supporting the electrification of transport and the take-up of electric vehicles. The growth of EV fluids is a huge opportunity, and we aim to be the market leader in this sector. Two thirds of the world’s major car manufacturers use Castrol ON EV fluids as a part of their factory fill and we also supply Castrol ON EV fluids to the Jaguar TCS Racing Formula E team. This significant new investment will now allow us to build additional strategic technologies and capabilities to further advance EV fluids for the future. The facilities will also be an amazing showcase to demonstrate our integrated technology expertise to customers as we help drive the transition to EVs.”

Castrol’s products and services are marketed in around 120 countries across the world. It serves customers and consumers in the automotive, marine, industrial and energy sectors.