Walmart is planning to build a nationwide EV fast-charging network located at its retail stores by 2030. As per the company, this effort will help make ownership of electric vehicles more accessible, reliable, convenient, and affordable.
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RICHMOND, CALIFORNIA - FEBRUARY 21: In an aerial view, A sign is seen posted on the exterior of a Walmart store on February 21, 2023 in Richmond, California. Walmart reported a stronger than expected holiday quarter but warns of slower profit growth and lower sales in the coming year.
Walmart's EV Fast-Charging Stations
As Walmart's customers continue to look for sustainable ways to save money and live a "greener" life, the company is expanding its EV fast-charging network to several retail stores across the United States. Walmart Energy Transformation Senior Vice President Vishal Kapadia stated that this would be an addition to the 1,300 existing EV stations operating in its 280 stores.
"We are uniquely positioned to deliver a convenient charging option that will help make EV ownership possible whether people live in rural, suburban, or urban areas," the SVP added. Walmart aims to meet the needs of its customers and members by encouraging them on having easy access to its chargers that may potentially change their minds to purchase an EV.
As per the company's statement, this commitment serves as a natural extension of their work to help customers and members live better, easiest, and more sustainable lives, which is a big win not only for the company but also for busy families and drivers all over the country.
Kapadia added that the new charge points are expected to be direct-current fast chargers with four chargers installed per store. By having its own chargers instead of partnering with other third-party companies, Walmart will be able to address cost and reliability issues.
Walmart is prioritizing accessibility and affordability in this plan. CNBC reported that the company's stores and wholesale warehouses are located within 10 miles of approximately 90% of Americans. Additionally, the company will offer "Everyday Low Cost" charging, including Supercenters, Neighborhood Markets, and Sam's Clubs.
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The Verge reported that this effort comes after several companies announced nationwide charging solutions in the US, including 7-Eleven, Big Pulse, and DC America. Meanwhile, Ikea and Starbucks are also planning to become charging hubs in the future but will rely on specialized companies like Electrify America and ChargePoint when it comes to logistics.
EV Chargers in the US
According to Reuters' report, there are currently 30,000 fast-chargers in the country that can top up a vehicle in less than an hour. This usually powers up vehicles that cost more than $100,000.
Due to the vehicles' high value, EVs remain fewer in the country. 'But with Walmart's commitment and its existing 4,700 stores and 600 Sam's Clubs, this marks the beginning of adopting change that will eventually lead to more affordable models in the future.
The United States also announced an investment of over $7.5 billion to launch a national charging network that will be located in lower-income and rural communities, which will likely boost sales for electric vehicles.
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