The Story

The world’s largest retailer is building its own EV fast-charging network to lure EV-driving shoppers.

The world’s largest retailer is building its own EV fast-charging network to lure EV-driving shoppers. Walmart is getting into the EV charging business, and it’s betting big. The world’s largest retailer is installing new DC fast chargers at its stores across America at a rate second only to Tesla. The company already operates gas stations at many of its stores.

Why Is Walmart Building EV Chargers?Interestingly, the company is doing this work rather quietly. When asked by Bloomberg News why it was getting into the low-margin EV charging business, Walmart sent a statement saying simply “our broad footprint positions us to make EV charging more accessible for communities while expanding the way we serve customers.”.

Walmart didn’t get to be the biggest retailer on earth by revenue (second-biggest by market capitalization, after Amazon) by being altruistic, so making EV charging more accessible is likely a side benefit and not the primary goal. “Expanding the way [Walmart] serve[s] customers” is the actual business plan. The company has no doubt looked at the number of EVs and plug-in…

That’s likely because Walmart has figured out what other networks like Ionna, BP Pulse, and Rove have: the real money is in retail. People charging their EVs for 20–40 minutes have time to shop. Just as gas stations make their margins on the convenience store and the car wash services rather than on the gas itself, EV charging stations can make a lot more money on those same…

Like Walmart says, the company already has the biggest hurdle figured out: land. The company has roughly 4,600 stores (Supercenters, Neighborhood Markets, and discount centers) across the country and 601 Sam’s Club stores, each with its own massive parking lot and major electrical hookup. .

Why It Matters

Walmart didn’t get to be the biggest retailer on earth by revenue (second-biggest by market capitalization, after Amazon) by being altruistic, so making EV charging more accessible is likely a side benefit and not the primary goal.

CarMotion Daily’s Take

If the execution delivers, this is the kind of EV move competitors will have to answer.

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