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Tuesday, March 5, 2024

Walmart’s Plan to Build a Nationwide EV Charging Network

In recent years, the popularity of electric vehicles (EVs) has risen significantly, and with it comes the need for widespread charging infrastructure. Walmart, the world’s largest retailer, has recognized this and is now planning to build a nationwide electric vehicle charging network.

Walmart aims to construct this charging infrastructure at thousands of its stores, including Sam’s Club locations, to offer low-cost charging options every day to EV owners. The company believes it is uniquely positioned to provide a convenient charging solution for EV drivers since its stores and wholesale warehouses are located within 10 miles of around 90% of Americans.

According to Walmart’s Director of Global Communications – Sustainability, Aman Singh, the company presently has almost 1,300 third-party chargers in 280 stores through partnerships with third-party providers. However, Walmart’s new initiative involves building a nationwide EV fast-charging network independently.

This nationwide EV charging network project is expected to be completed by 2030, and it will help make EV ownership more accessible, reliable, convenient, and affordable for Americans. Walmart’s charging locations will be clean, bright, and secure for EV owners.

Walmart is taking steps towards sustainable transportation by expanding electric vehicle charging, aiming to make its own logistics emissions-free by 2040, and incorporating EVs into its Walmart Plus shopping deliveries. The company has partnered with GM’s BrightDrop and Canoo to build last-mile delivery fleets, although the latter faced a setback with a $1.5 million settlement with the SEC.

Walmart’s initiative to build a nationwide EV charging network comes amid a growing trend of businesses such as 7-Eleven, BP, and DC-America announcing their own “nationwide” charging solutions in the US. Meanwhile, Ikea and Starbucks are relying on specialized companies such as Electrify America and ChargePoint to become charging hubs.

However, the current reality of charging infrastructure faces issues of reliability and fragmentation, requiring EV owners to register with multiple charging network companies. To tackle these challenges, the Biden administration’s Inflation Reduction Act is offering incentives for groups building public-use charging stations to make them more accessible, abundant, and reliable.

In conclusion, Walmart’s plan to build a nationwide electric vehicle charging network is a significant step towards promoting sustainable transportation in the US. This initiative will provide low-cost charging options to EV owners and encourage more people to switch to EVs. As the world moves towards cleaner energy, it is encouraging to see companies like Walmart taking significant steps toward sustainable transportation.

Also Read: Walmart Stock Price Forecast & Prediction till 2024-2028

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