Oil & gas giant TotalEnergies is tapping into opportunities across the electric vehicle (EV) ecosystem to diversify its clean energy business. We dig into the company’s activity across EV charging and battery tech.
As one of the largest oil majors globally, TotalEnergies has long dominated the international energy markets. With $184.7B in annual revenue in 2021, the energy incumbent’s business strategy has traditionally focused on fossil fuels.
However, the company’s recent rebrand from Total to TotalEnergies reflects a change in strategy to include more sustainable business segments. As part of the transition, the company is focused on vehicle electrification (both the infrastructure and charging solutions to optimize the flow of energy) as well as EV battery tech.
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By developing a presence in EV tech, the company stands to take advantage of the surging EV market, which has gathered momentum amid global policies that subsidize EV use and automakers’ commitments to shift toward all-electric fleets in the next 10-15 years. Widespread EV adoption could also increase electricity consumption in the grid by up to 25% — an upswing Total won’t want to miss out on.
Below, we explore what TotalEnergies is doing in the EV tech space as it strives to diversify its business and take advantage of the clean energy opportunity.
