Shell's Volta EV Unit Shutdown Drives Stock Down 0.22% as Trading Volume Surges 41.96% to Rank 352nd

On August 6, 2025, Shell (SHEL) closed at a 0.22% decline with a trading volume of $0.33 billion, marking a 41.96% increase from the previous day’s volume. The stock ranked 352nd in trading activity for the session.

Shell announced the full shutdown of its Volta EV Charging and Media division, a unit acquired in 2023 for $169 million. The decision follows ongoing financial struggles, with the business reportedly losing $140 million annually by late 2024. Over 200 employees will be laid off as the company dismantles its network of more than 2,000 EV charging stations by year-end. The move reflects a strategic retreat from a high-risk venture that failed to align with Shell’s core energy operations, despite initial optimism about leveraging advertising revenue from integrated screens at charging stations.

The acquisition of Volta was initially seen as a strategic fit for diversifying non-fuel revenue streams. However, internal challenges emerged, including Shell’s lack of expertise in managing a programmatic ad sales business and Volta’s consistent failure to meet sales targets. The unit’s reliance on a contentious retail media model—selling ad inventory to third-party retailers—further complicated its integration. Shell had previously attempted to divest the unit this year but failed to secure a buyer, leading to the final decision to terminate the operation.

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