The world’s largest retailer, Walmartplans to build its own “coast-to-coast” EV fast-charging network by 2030 to help deliver a convenient and affordable charging experience.
Walmart to launch EV fast-charging network across stores
As the auto industry accelerates its transition toward fully electric, zero-emission vehicles, businesses are looking to adapt.
According to data from Cox Automotive – despite total vehicle sales falling 8% in the US last year – EV sales grew 65%, reaching 5.8% of all new car sales in the US.
The number of electric vehicles on the road is only projected to continue trending higher, with the US aiming for a 50% EV sales share by 2030. Several initiatives have been passed to accelerate the transition.
For one, the Inflation Reduction Act passed last August provides EV buyers up to $7,500 in tax credits based on where the vehicles materials are sourced from and assembled.
In addition, $5 billion in funding is being made available over the next five years to establish a nationwide EV charging network in the US through the NEVI Formula Program.
Walmart already has nearly 1,300 EV fast-charging stations through a partnership with Electrify America installed across over 280 US retail locations. The new initiative will promote a coast-to-coast network across thousands of Walmart and Sams Club Stores by 2030, according to the retailer.
With a Walmart store or club located within 10 miles of roughly 90% of Americans, the EV fast-charging network will help increase access to affordable charging solutions as demand grows.
The big-box retailer says the plan is the latest in its efforts to transform its business and supply chains to become more environmentally conscious and achieve zero emissions by 2040.
Walmart’s business model is perfect for an EV fast-charging network. The company already has nearly 5,000 retail stores throughout the US, from the east coast to the west.
In addition, Walmart has expanded its services in the past with fueling centers and repair shops. As the number of EVs on the road continues rising, Walmart is wise to hop on the trend now.
EV drivers can shop in Walmart, and by the time they are done, they will have a charged vehicle ready to go.
Photo credit: PlugShare
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