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CBL Properties and Volta Partner to Bring EV Charging Stations to Select Properties
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
partnership
Rhea-AI Summary
CBL Properties has partnered with Volta Inc. to install electric vehicle (EV) charging stations at select properties, enhancing sustainability and customer amenities. The initiative follows a rise in electric vehicle sales, with stations set to launch at Arbor Place in Atlanta, Pearland Town Center in Houston, and Laurel Park Place in Detroit. CBL currently operates 72 EV charging stations across its portfolio, aiming to expand this offering. The construction of the new stations is already underway, reflecting CBL's commitment to integrating sustainable practices.
Positive
Partnership with Volta for EV charging infrastructure enhances sustainability.
Installation of EV charging stations at high-traffic retail locations increases customer amenities.
Plans for expansion beyond initial properties indicate growth potential.
Negative
None.
This partnership underscores CBL’s commitment to sustainability and providing valuable customer amenities
CHATTANOOGA, Tenn.--(BUSINESS WIRE)--
CBL Properties (NYSE: CBL) and Volta Inc. (“Volta”), an industry leader in commerce-centric electric vehicle (“EV”) charging networks, have partnered to offer EV charging at select CBL properties.
“We’re thrilled to announce this new partnership with Volta to add EV charging stations at our properties,” said Stephen D. Lebovitz, chief executive officer at CBL Properties. “We have seen increased interest in EV charging stations as sales of electric vehicles have increased. This is an additional amenity that we can offer our tenants and customers and is another example of our focus on sustainability across our portfolio.”
Founded on the premise that the electrification of mobility is likely to be a transformational shift, Volta builds and operates a nationwide EV charging network that has among the best utilization per station in the EV charging industry for the United States. Centered around capturing new spending habits expected to result from the shift to electric vehicles, Volta seeks to transform the fueling industry by building charging stations in locations where drivers spend their time and money, including grocery stores, pharmacies, and other retail locations.
New Volta charging stations will be installed at Arbor Place in Atlanta, Georgia, Pearland Town Center in Houston, Texas, and Laurel Park Place in Detroit, Michigan, with an opportunity to expand to additional properties in the future. Construction on the stations is currently underway and they will be operational in the next few months. CBL currently has 72 EV charging stations at properties across its portfolio.
About Volta
Volta Inc. (NYSE: VLTA) is an industry leader in commerce-centric EV charging networks. Volta’s vision is to build EV charging networks that capitalize on and catalyze the shift from combustion-powered miles to electric miles by placing stations where consumers live, work, shop and play. By leveraging a data-driven understanding of driver behavior to deliver EV charging solutions that fit seamlessly into drivers’ daily routines, Volta’s goal is to benefit consumers, brands and real-estate locations while helping to build the infrastructure of the future. As part of Volta’s unique EV charging offering, its stations allow it to enhance its site hosts’ and strategic partners’ core commercial interests, creating a new means for them to benefit from the transformative shift to electric mobility. To learn more, visit www.voltacharging.com.
About CBL Properties Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market‑dominant properties located in dynamic and growing communities. CBL’s portfolio is comprised of 99 properties totaling 63.0 million square feet across 24 states, including 61 high-quality enclosed, outlet and open-air retail centers and five properties managed for third parties. CBL seeks to continuously strengthen its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties. For more information visit cblproperties.com.
What is the partnership between CBL Properties and Volta Inc. about?
CBL Properties has partnered with Volta Inc. to install electric vehicle (EV) charging stations at select properties, enhancing customer amenities.
Where will the new EV charging stations be located?
The new EV charging stations will be located at Arbor Place in Atlanta, Pearland Town Center in Houston, and Laurel Park Place in Detroit.
How many EV charging stations does CBL currently operate?
CBL currently operates 72 EV charging stations across its portfolio.
When will the new EV charging stations become operational?
Construction on the new EV charging stations is currently underway and they will be operational in the next few months.
How does this partnership reflect CBL's commitment to sustainability?
This partnership with Volta underscores CBL's focus on sustainability by integrating EV charging infrastructure at its properties, catering to the increasing demand for electric vehicle amenities.
