Mercedes-Benz Group’s MBGYY High-Power Charging unit and Starbucks Corp SBUX have announced a strategic collaboration to electrify over 100 Starbucks stores nationwide.
The initiative aims to co-locate 400 kW electric vehicle (EV) chargers at Starbucks locations along Interstate 5 (I-5), a major travel corridor from Canada to Mexico.
The partnership seeks to expand EV charging infrastructure in urban areas, charging deserts, and other key travel routes. The collaboration is also expected to enhance the EV charging experience for drivers.
Andrew Cornelia, President and CEO of Mercedes-Benz High-Power Charging, stated, “Together, we seek to infuse delight into this facet of EV ownership through intentional experiences that make drivers genuinely excited to plug in.”
Mercedes-Benz High-Power Charging supports the automaker’s goal to achieve carbon neutrality by 2039 through a public charging network powered by 100% clean energy.
Also Read: Starbucks Sues NY Weed Retailer For Trademark Infringement Over ‘Starbuds’ Logo
Similarly, Starbucks aims to reduce its carbon emissions by 50% by 2030, with over 1,000 stores already offering EV charging access.
Michael Kobori, Starbucks Chief Sustainability Officer, said, “Partnering with Mercedes is the next step in expanding our EV charging offerings so our customers can refuel sustainably while they enjoy Starbucks.”
Mercedes-Benz High-Power Charging launched its first site in November 2023 as part of a $1 billion investment to create a premier charging network.
Since then, the network has rapidly expanded to include locations in Texas, Alabama, Georgia, Florida, South Carolina, Tennessee, and Kentucky.
The network is projected to reach nearly half of U.S. states within the next 12-18 months, aiming to improve the quality of the charging experience and consumer services.
Price Action: SBUX shares are trading higher by 0.31% at $75.75 at last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Company
Read Next:
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
