Summary
– The United States is at a tipping point in the shift towards electric vehicle adoption
– Installing charging stations at retail locations can help bridge the gap in EV charging infrastructure
– Electric vehicles are becoming more popular, representing 7.6% of total vehicle sales in 2023
– Retailers can benefit from installing charging stations by attracting new customers and creating a new revenue stream
– The push to add EV charging stations is not limited to big-box stores, with convenience stores and restaurants also joining in.
Article
The United States is at a pivotal moment in the shift towards electric vehicle (EV) adoption, but the lack of widespread, convenient, and reliable EV charging infrastructure is a significant barrier to making EVs a mainstream choice for drivers. Efforts to improve the charging experience have gained momentum, with the recent Bipartisan Infrastructure Law allocating $7.5 billion to install 500,000 public chargers by 2030, including chargers along interstate highways. The lack of easy, available charging options remains a significant challenge for prospective EV drivers.
One emerging solution to address this gap is installing charging stations at big-box retailers, convenience stores, and other locations where people can charge their vehicles while going about their daily routines. Retailers like Walmart have announced plans to add fast-charging stations at thousands of locations, recognizing the potential benefits of offering reliable charging hubs. For consumers, the convenience of retail EV charging hubs can help mitigate a key obstacle in their decision-making process when considering going electric.
Electric vehicles are becoming increasingly prevalent in the automotive market, with EV sales exceeding 1 million in 2023, representing 7.6% of total vehicle sales. This growth underscores the broader transition towards electric-powered driving, with a projected 25% of vehicles on the road being some form of electric by 2024. Despite this trend, charging infrastructure remains a significant downside of owning an EV, with reliability and availability of public chargers remaining key concerns for EV owners.
Retailers stand to benefit from installing EV charging stations, as they can attract new customers, increase store visits, create a new revenue stream, and improve sustainability and brand perception. Offering EV charging can help retailers engage with customers, demonstrating a commitment to sustainability and providing features that enhance the overall shopping experience. By providing a convenient and easy charging experience, retailers can strengthen customer engagement, drive repeat business, and build brand loyalty.
The trend of adding EV charging stations to retail outlets is not limited to big-box stores like Walmart, as convenience stores, restaurants, and other businesses are also looking to install charging stations to attract EV drivers. Chains like 7-Eleven, Buc-ee’s, and restaurant chains are joining the charging market, recognizing the growing number of EVs on the road and the importance of providing fast, convenient, and reliable charging options. Retail chains play a crucial role in expanding access to charging options and advancing the adoption of electric vehicles.
Hooman Shahidi, CEO and Co-founder of EVPassport, emphasizes the importance of developing a robust EV charging infrastructure to support the growth of electric vehicles. With experience in scaling teams and organizations, Shahidi leads EVPassport’s efforts to drive global growth, corporate development, and strategic partnerships. By investing in EV charging infrastructure and collaborating with retailers and other businesses, the United States can accelerate the transition to electric-powered transportation, reduce carbon emissions, and achieve sustainability goals.
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