Wedoany.com Report-Aug. 8, Shell has announced the closure of Volta Charging and Volta Media, its electric vehicle (EV) charging and digital advertising subsidiary, acquired in 2023 for $169 million. The decision aligns with Shell’s strategy to prioritize high-speed public charging at its branded service stations and standalone EV hubs, as stated to AdExchanger: “focus on high-speed public charging at Shell-branded sites like service stations and standalone EV hubs.”

Founded in 2010, Volta integrated digital display screens into its EV chargers starting in 2016 to generate advertising revenue. This model enabled charger installations in high-traffic retail locations, such as shopping centers and supermarkets, with advertising inventory often shared with host retailers like Walgreens in the United States. Initially successful, Volta listed on the New York Stock Exchange in 2021. However, by late 2024, it reported annual losses of approximately $140 million, prompting Shell’s acquisition.

At the time of purchase, Shell aimed to enhance its EV charging growth, stating it “seeks to unlock robust, long-term growth opportunities in electric vehicle charging.” Despite this, sources cited by AdExchanger noted that Shell did not prioritize operating a programmatic advertising sales business. Earlier in 2025, Shell explored selling Volta but failed to find a buyer, leading to the decision to wind down operations. All Volta chargers will be dismantled by the end of 2025, and Volta Media operations will cease in November.

The closure impacts around 190 employees, with Shell offering some the opportunity to apply for roles elsewhere in the organization. This move reflects Shell’s shift toward streamlining its EV charging strategy, focusing on infrastructure that supports high-speed charging at its own branded locations to meet growing demand efficiently.

The decision underscores the challenges of integrating innovative business models like Volta’s, which combined EV charging with advertising, into larger corporate strategies. Shell’s focus on core charging infrastructure aims to strengthen its position in the EV market while addressing operational and financial inefficiencies.