Ampol Powers Up: $1.1B Deal to Spark EV Growth

Ampol’s $1.1B EG Australia deal aims to expand its AmpCharge network and secure prime EV charging sites nationwide

14 Oct 2025

Australia’s transport sector is shifting from petrol pumps to power plugs. Ampol’s planned A$1.1 billion purchase of EG Australia, announced in August, is the latest sign that the country’s largest fuel retailer wants to dominate the next phase of motoring. The deal, still awaiting regulatory clearance, is expected to close by mid-2026.

If approved, Ampol will gain more than 500 additional service-station and convenience sites, prime locations for its growing AmpCharge network. A handful of outlets, about 20, may be sold to avoid overlap. But the acquisition will greatly expand Ampol’s reach along highways and in major cities, giving it a head start in the race to install public chargers.

The move reflects a wider evolution in Australia’s energy business. Fuel retailers are rebranding as “multi-energy” providers, positioning for a world in which electrons, not hydrocarbons, drive revenue. Analysts view Ampol’s bid less as a retail land grab than as an investment in the infrastructure of electric mobility.

Rivals are hardly idle. Viva Energy, fresh from acquiring OTR Group, is building its own charging network. bp and Evie Networks continue their rollouts. Should Ampol’s deal proceed, it would secure one of the most extensive roadside footprints in the country. Yet the challenges are formidable: connecting chargers to the grid, navigating planning approvals and financing installations remain slow, costly work. Ampol has met only half of its 2024 target for new charging bays.

Motorists may welcome more charging options, easing concerns about range and convenience. But regulators will watch closely; consolidation among large operators could make it harder for smaller firms to compete for key sites.

Electric vehicles are expected to account for roughly a quarter of new car sales by 2030. Ampol’s bold bet positions it well for that future. Whether it leads or merely keeps pace will depend less on property deals than on how fast Australia can plug in.