Companies Across Industries Race To Lead The EV Charge

Improving the charging infrastructure is of crucial importance for a wide EV adoption. In Denmark, the Chinese EV maker NIO Inc NIO has opened its first European "Power Swap Station" where drivers can replace their used-up battery with a fully charged one. In the U.S., the Biden administration announced $7.5 billion will be committed to launching a nationwide charging network, particularly in lower-income and rural communities, in an effort to boost EV sales which accounted for 7% of January’s new vehicle registrations. A variety of companies across industries are doing their part in alleviating range anxiety fears. 

Even Walmart Is Doing Its Part In Supporting EV Adoption

Walmart Inc WMT revealed that its will be building its own EV charging network as its stores will be hosting thousands of new fast charging stations nationwide by the end of its decade. At the moment, Walmart has a bit less than 1,300 third-party chargers across 280 stores, but this is the result of partnership with third-party suppliers. According to Reuters, Walmart plans to install an average of four chargers per store in question. Considering that Walmart’s stores and wholesale warehouses are located “within 10 miles of approximately 90% of Americans, the company believes it is is “uniquely positioned” to provide convenient charging solution to EV owners.

 In addition to expanding its EV infrastrucutre, Walmart plans to make its own logistics emissions-free by the end of 2040. It is also incorporating EVs into its Walmart Plus shopping deliveries and working with General Motors GM’ BrightDrop in building last-mile delivery fleets.

Worksport’s Ground-Breaking Technology

At the recent Electric Vehicle and Auto Tech Virtual Conference on March 30th, Steven Rossi, CEO of Worksport Ltd. WKSP appeared as a panelist and discussed progress this innovative company is making with its Terravis Energy patented technology. As part of the new EV charging solutions panel, Rossi spoke about Terravis Energy’s recent installation of two proprietary direct current EV fast charging stations at the company’s NY factory located at West Seneca. Worksport’s employees and stakeholders are getting to power its electric vehicles at these two stations. They are both rated at 120 kilowatt-hours and are comprised of Worksport’s advanced technology, superior engineering and user-friendly interface. 

Moreover, Worksport’s COR battery system has a unique feature that anything that can be plugged into a wall outlet can be plugged into it, making this clean portable energy product unique in providing off-grid power to remote locations and promising to change the dynamics of workplaces, camping sites and improve responses in cases of accidents and natural disasters. 

The EV Transformation Continues To Gain Momentum

As the EV momentum is building, top automakers are reshuffling with some being dethroned by new electric players and the roads are in for a serious makeover as public charging is far away from being accessible to everyone. 

DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.