Per The Washington Post
Walmart plans thousands of U.S. stores to offer EV charging in 2030
4/7/2023
As the leading retail company by revenue, Walmart plans to expand its business further, entering the EV industry on the "charging" end. By 2030, the company wants thousands of its stores in the U.S. to offer EV charging, adding another potential profit driver and catering to the growing EV market.
This comes amid massive adoption in the U.S. as the EV industry is starting to pick up, with more companies either already selling or expected to sell in the future. So far, S&P Global Mobility indicates that in January, 7% of new vehicle registrations in the US were for fully electric vehicles.
Walmart's Senior VP of Energy Transformation, Vishal Kapdia, shared thoughts regarding what they think of the demand for electric vehicle charging. Kapadia thinks that the demand has finally "reached a tipping point."
Kapadia: “There’s an obvious opportunity for us to leverage the real estate footprint that we have, which is very unique within the market... “We’ve got a Walmart store or Sam’s Club within 10 miles of 90 percent of the population in this country"
Wolfe Research auto analyst Rod Lache gave a statement regarding the problem regarding charging. His insights were shared during a recent automotive conference.
Lache: “Charging companies in many cases are not doing a good job delivering on reliability... It’s a big problem because you could potentially damage the industry for some time if that’s not addressed soon.”
In February, the White House finally asked for Elon Musk's help regarding their EV charging plans in the US. Their request for help came despite Biden not mentioning Tesla in a previous announcement regarding EV efforts.
Ford expects its EV unit losses in 2023 to reach $3 billion. The company's business is divided into Ford Blue and Ford Pro, which are both responsible in combination for the company's expected losses.
See flow at unusualwhales.com/flow.
Other News:
- White House asks for Elon Musk's help for EV charging station expansion despite Biden previously not mentioning Tesla
- Ford expects 2023 EV unit losses to reach $3 billion
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