All articles tagged with #electric vehicle charging
While U.S. gas prices are falling to their lowest since 2020, D.C. remains among the top ten most expensive markets at $3.17 per gallon, despite increased supply and low crude oil prices; Maryland offers relatively affordable EV charging at 32 cents per kWh.
A federal court ordered the release of $5 billion in NEVI funds that had been illegally frozen by the Trump administration, aiming to expand and improve electric vehicle charging infrastructure across the US, with a focus on standardization and accessibility, though some states are still working to access these funds.
Costco is opening its first standalone gas station in Mission Viejo, California, featuring 40 pumps exclusively for members, without a convenience store, and is expanding its fuel and electric vehicle charging infrastructure amid record fuel sales and increased store hours.
Greenlane, backed by Daimler and BlackRock, plans to build a 280-mile electric vehicle charging corridor for commercial trucks from Los Angeles to Las Vegas, with initial charging locations in Colton, California, and additional stops in Barstow and Baker. The corridor aims to accelerate the transition to zero emissions and will offer fast chargers for medium- and heavy-duty electric trucks, as well as amenities for drivers. The move reflects a strategic effort by Daimler to ensure charging infrastructure for its electric truck lineup and to compete with Tesla in the big truck space.
The US Transportation Department is allocating $148.8 million to repair or upgrade nearly 4,500 electric vehicle charging ports across 20 states as part of President Biden's $5 billion plan to expand EV infrastructure. The funds aim to alleviate frustrations for drivers encountering out-of-service charging ports and contribute to the goal of having at least 500,000 public EV chargers, including fast chargers, available by the end of the decade. This initiative is part of the National Electric Vehicle Infrastructure program funded by the 2021 infrastructure law, with the requirement for federally-funded charging ports to operate for at least five years and work 97% of the time.
ChargePoint Holdings' stock plummeted by nearly 38% to a record low after the electric vehicle charging network reduced its third-quarter revenue forecast due to weak demand caused by delays in electric vehicle deliveries. The company also announced the replacement of its CEO and CFO. Multiple analysts have slashed their price targets and downgraded their ratings on ChargePoint's stock, reflecting concerns about the near-term outlook for the company and the broader EV charging industry.
Tesla has announced a partnership with Hilton that will bring Tesla's Universal Wall Connector charging points to 2,000 Hilton locations in the US, Canada, and Mexico, totaling 20,000 chargers. The deal aims to make electric vehicle charging more accessible for visitors and ease range anxiety for Tesla and other EV drivers. The move is expected to benefit Hilton by attracting more customers who prioritize EV charging availability. Currently, only one Hilton hotel in the US has on-site electric charging, but the partnership will bring at least six chargers to every location by the start of 2024.
Apple is offering a new promotion for select Apple Card users, providing them with 10% total Daily Cash back on gas and electric vehicle charging, up to $6,000 worth of purchases. The promotion is available until October 5 and can be accessed through Apple Pay, virtual card numbers, or in-person transactions using the Apple Card.
alpitronic America, a manufacturer of electric vehicle charging units, is moving its North American headquarters and tech center to Mecklenburg County in Charlotte, North Carolina. The move is expected to create 300 new jobs and invest $9.3 million in the facility. The majority of the new jobs will be in product development, engineering, and service technicians, with other positions in finance, accounting, human resources, IT, and sales. The move was a collaborative effort between various organizations in North Carolina.
EVgo, the electric-vehicle charging company, reported better-than-expected Q4 sales and its 2023 sales guidance falls within Wall Street's projections, leading to a rise in its stock price. The solid results are good news for early-stage growth stocks in the current market.
EVgo reported better-than-expected Q4 sales and its 2023 sales guidance falls within Wall Street's projections, leading to a rise in its stock price. The electric-vehicle charging company's solid results are good enough for early-stage growth stocks in the current market.