TotalEnergies separates from 1,600 petrol stations in Europe, the end of the thermal vehicles in question

As you probably know, Europe intends to do thisprohibit the sale of thermal cars promote electric vehicles to fight global warming. Even though this project is only planned for 2035, TotalEnergies is already taking measures accordingly. How does the oil giant want to anticipate this law? We explain all this to you in this article.

2,200 gas stations sold to a Canadian brand

In 2035, the sale of new thermal vehicles could be banned. Therefore, TotalEnergies is preparing to sell more than 2,000 gas stations. Located in the Netherlands, Belgium, Luxembourg and Germany, they will be sold to Couche-Tard. This Canadian distribution group will purchase a total of 2,200 TotalEnergies service stations for 3.1 billion euros.

Today Couche-Tard is present in around twenty countries around the world. Its 14,000 stores brought nearly 60 billion euros Last year. Increasingly present in Europe, they market food and non-food products.

In France, we don’t know much about this brand. The latter tried to settle by trying to buy Carrefour in 2021. But the economy minister had refused, citing a risk to “French food sovereignty”. These so called local shops are often associated with service stations. Therefore, they rely on emergency purchases. If I tell you that they stay open late in the evening, you understand where the surprising name of this Canadian brand comes from.

Be that as it may, it is precisely to anticipate this freeze in the sale of internal combustion vehicles that TotalEnergies has decided to separate itself from a few thousand service stations in various European countries. Thus, the oil giant wants to focus on the development of the “new mobility”, i.e. electricity and hydrogen. The group has also specified that it intends to do so develop certain activities including electric charging outside service stations, wholesale fuel sales and AS24 stations reserved for professionals.

TotalEnergies expects a loss of revenues generated by the end of sales of new thermal vehicles

With the end of the sale of thermal vehicles, TotalEnergies, if it does nothing, risks suffering a large loss of income. Indeed, its fuel sales could shrink significantly in Europe. Electric cars will not need to be recharged at stations. Motorists will be able to refuel them at home or at work. Well aware of the consequences of this European law, the group was forced to make decisions upstream.

To discuss this transaction with the Couche-Tard group, TotalEnergies speaks of a “transformation into a multi-energy company”. In a recent statement, the oil giant said it wants toachieve the famous carbon neutrality in 2050.

Please note that this operation is not finalized yet. The sale of these 2,200 European service stations will only take place at the end of the year. And this, only if the competition authorities give their consent. It should be noted that in recent years TotalEnergies has already sold several networks of petrol stations in Switzerland, England and Italy.