US: Shell acquires an EV charging firm - Did Shell draw EV owners’ attention with the acquisition?

Shell has completed the acquisition of electric vehicle charging network Volta. Announced earlier in January 2023, the acquisition (which is a full cash purchase worth $169 million) now enables Shell to own and operate one of the largest EV charging networks in the US. 

Currently, Volta operates over 3,000 charge points across sites like retail parking lots, grocery stores and pharmacies. 

As Shell furthers its electric mobility ambitions (the oil and gas company also manufactures e-scooters, e-bikes and battery banks) we look at whether there has been any change in the Buzz and Consideration metrics for the company among current EV and plug-in hybrid vehicle owners in the US since the announcement. 

According to YouGov BrandIndex - which tracks consumer sentiment towards thousands of brands daily - Shell’s Consideration score among Americans who own an EV or a plug-in hybrid vehicle increased since the acquisition was announced. The metric - which indicates how many consumers are considering purchasing from the brand, when next in market - grew from 20% on January 1, 2023 to 26% on March 29, 2023. 

Shell’s Buzz score - which measures whether consumers are hearing more positive or negative things about the brand - increased from a net score of 15 on January 1, 2023 to a high of 23 on March 17, 2023 before dropping back to 15 by March 29, 2023.

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Methodology: YouGov BrandIndex collects data on thousands of brands every day. Shell’s Consideration score is based on the question: When you are in the market next to purchase from one of the following brands, from which of the following would you consider purchasing? and delivered as  percentage. Its Buzz score is based on the question: Over the past two weeks, which of the following brands have you heard something positive about/negative about? and delivered as a net score between -100 and +100. Scores are based on an average daily sample size of 119 US adults between January 1, 2023 and March 29, 2023. Figures are based on a four-week moving average. Learn more about BrandIndex.

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