How gas station economics will change in the electric vehicle charging future
Publishing timestamp: 2023-08-19 10:00:01
Summary
Gas station numbers have been decreasing, and a quarter of service stations globally are at risk of closure by 2035 without significant changes. Gas stations are investing in Level 3 chargers for electric vehicles, but the decision to convert infrastructure is complex. Major oil companies like BP and Shell are supporting franchise filling stations. Adding EV chargers is seen as a defensive and offensive play for oil giants. Franchise car dealers are also getting on board. The return on investment for adding EV charging capabilities can be seven to 10 years. There are incentives available for commercial businesses to install fast chargers. Location is a major factor in the feasibility of adding EV charging. Convenience stores and gas station operators are starting to add electric chargers at select locations. Some gas station owners are taking a slow approach to adopting electric charging.
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Tickers: SHEL-GB, F, BP.-GB, GM,
Keywords: business owner, autos, united states, electric vehicles, gasoline retail, bp plc, business news, small business, general motors co, shell plc, alternative and sustainable energy, ford motor co, business, environment, electric power generation,
Source: https://www.cnbc.com/2023/08/19/how-gas-station-economics-will-change-in-the-ev-charging-future.html