An exclusive Q&A with Shell Senior Vice President Americas Mobility Barbara Stoyko

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Can you provide a brief background to the acquisition of Timewise, particularly focused on the importance of the US market for Shell?

Barbara Stoyko, Shell’s SVP Americas Mobility

In June 2022, Shell Retail and Convenience Operations announced we had completed the acquisition of 184 fuel and convenience retail sites from the Landmark group of companies, whose convenience stores operated in Texas under the Timewise brand. The acquisition also included supply agreements for the independently operated fuel and convenience sites.

This acquisition has brought Shell closer to our customers and enhances our market presence by growing our mobility footprint in a core market in the U.S. As one of the largest fuels and convenience retail markets globally – of the 46,000 Shell-branded sites worldwide, we own and operate approximately 6,000 stores – growth in the U.S. gives Shell the opportunity to build on its successful brand presence and leverage the strength of its ongoing business relationships.

Adding these retail sites to our portfolio is helping Shell advance our Powering Progress strategy in three ways:

1. By growing our retail footprint in a core market,
2. by providing opportunities to offer customers expanded fuelling options (such as electric vehicle charging and lower carbon premium fuels) and
3. by allowing for the growth of non-fuel sales through an enhanced convenience offering.

Can you provide us with an update on Timewise since the transaction was completed?

Since acquiring Timewise, we have been able to establish strong local convenience retail operational capabilities and a very strong network with Timewise. At the same time, we have been able to leverage Shell’s strategic agreements with suppliers, as well as leverage our global formats and category management capabilities.

Shell is investing heavily in the Timewise network, particularly in our food and coffee and carwash offers. Shell has a lot of experience operating food and coffee offers around the globe and we can leverage that experience whilst making sure we cater to the needs of the American consumer. The first food sites are expected to go live this year.

We are fully invested in growing our mobility businesses. We plan to grow organically through our Timewise brand and will also consider further acquisitions of businesses of interest based on their merits.

Let’s talk about your Shell Recharge brand. What is Shell’s view on EV charging in the future of the mobility landscape?

Sales of electric cars are continuing to hit new record levels. The electrification of road mobility is currently accelerating at a faster pace than what was anticipated only two years ago.

Even with strains along global supply chains, sales kept rising strongly into 2022 and doubled from 2020 with a new record of 6.6 million – that’s 10% of global car sales. The IEA’s EV30@30 scenario predicts that by 2030 this number could be as high as 220 million.

However, as we all know, to meet those numbers, we need to develop a robust and reliable charging infrastructure. That’s why Shell has set a global target to own more than 70,000 public EV charge points worldwide by 2025, and 200,000 by 2030.

In countries where the uptake of EVs is slowest, there will be an even greater need for other decarbonization solutions. This is why we’re offering a range of low-carbon fuels, such as our ClearFLEX E85 and renewable diesel in the U.S.

When, where and how customers fuel or charge will ultimately be their decision, but Shell will continue to evolve to be ready to meet their needs whatever vehicle or fuel type they may choose.

 How does this relate to Shell’s retail convenience business?

As the world’s leading mobility retailer, we believe Shell is uniquely positioned to provide the infrastructure and fuels needed today and in the future for North American consumers – with all vehicle types.

What has made us the world’s leading mobility retailer is our ability to look beyond just fuels and automotive products – to offer customers everything they need to make their journeys better.

It’s not an ‘and/or’ strategy, but an ‘and-and-and’ strategy, incorporating traditional fuels, lower-carbon fuels, convenience retail and EV charging.

Just as we are leaders in mobility retail today, we want to become leaders in electric mobility by offering our customers EV charging where convenient for them: from fast and ultra-fast EV charging at Shell retail sites; strategically placed hubs along major thoroughfares; and at some of their favorite destinations.

How has the acquisition of Volta in the USA enabled Shell to grow its public EV charging network?

In March 2023, Shell finalized its acquisition of Volta, and now owns and operates one of the largest public EV-charging networks in the U.S.

The acquisition of Volta brings Shell’s US public charging network to more than 3,000 charge points. Volta also has a development pipeline of more than 3,400 additional charge points, representing a large scale up of public charging.

Volta, now a member of the Shell Group, is both an EV charging and media company, offering charging stations that feature large-format digital advertising screens at commercial locations.

How does this broaden Shell’s connection to US customers in addition to the network of fuel and convenience destination sites?  

The Volta acquisition complements Shell’s destination charging plans, which is part of our strategy to offer customers accessible and convenient charging at a variety of businesses, including Shell retail sites, consumer destinations and EV charging hubs across North America.

Further, we see enormous potential to both expand Volta’s advertising model into new markets and to incorporate it into our existing offers to our Shell Recharge customers.