ChargePoint and NATSO Progress Toward 2030 Fast Charging Commitment Across the United States

Rhea-AI Summary

ChargePoint (NYSE:CHPT) and NATSO report progress in the National Highway Charging Collaborative, aiming to deploy charging stations at over 4,000 travel plazas nationwide by 2030. The initiative is backed by $1 billion in public and private funding, successfully funding 150 DC fast charging spots in its first year. Bloomberg NEF projects EVs will comprise 29% of vehicle sales by 2030. The Collaborative connects rural communities in eight states, expanding charging infrastructure along essential corridors to mitigate range anxiety for EV drivers.

Positive

• Collaborative secured over $11 million in funding so far.
• Successfully funded 150 charging spots, expanding access significantly.
• Projected to deploy infrastructure at 4,000 travel centers by 2030.

Negative

• None.

ChargePoint, Inc. (NYSE:CHPT) a leading electric vehicle (“EV”) charging network, and NATSO, representing travel plazas and truckstops, today announced significant progress in the first year of the National Highway Charging Collaborative, an initiative that will leverage $1 billion in public and private capital to deploy charging at more than 4,000 travel plazas and fuel stops serving highway travelers and rural communities nationwide by 2030. In its first year, the public-private Collaborative successfully funded more than 150 DC fast charging spots with additional access to more than 1,500 publicly available DC fast charging spots for consumers on ChargePoint’s existing network.

The Collaborative continues to aggressively scale its efforts, expecting to reach $1 billion in investments by 2030. This is in line with the expected arrival rate of dozens of new EV models. The National Highway Charging Collaborative is increasing access to EV charging along highways and in rural North America by filling infrastructure gaps along the National Highway System, including along the Federal Highway Administration's (FHWA) designated alternative fuel corridors. The FHWA also highlights the National Highway Charging Collaborative as part of its Alternative Fuel Corridors Best Practices.

Bloomberg NEF estimates EVs will make up 10 percent of all vehicles sold by 2025 and increase to more than 29 percent by 2030. With more than $11 million of public and private funding leveraged to date as part of the Collaborative, new fast charge sites are connecting rural communities and enabling long distance electric travel across more than eight states including California, Florida, Iowa, Missouri, and Washington. The Collaborative has attracted support from some of the nation’s most prominent travel plaza, convenience store and truckstop brands, including Kum & Go, Donna’s Travel Plaza, Love’s Travel Stops and Trillium, its alternative and renewable fuel provider; the Iowa 80 Group, and others.

“ChargePoint’s ongoing effort to significantly expand access to charging across cities, rural communities, and along highways is core to our mission and the collaboration with NATSO is already making significant progress toward that goal,” said Colleen Jansen, Chief Marketing Officer, ChargePoint. “The National Highway Collaborative is poised to be one of the nation’s foremost examples of how partnerships can be designed to scale vital charging infrastructure. The progress to date has created the foundation for the scaling of fast charging to support long distance electric travel and enable fast charging in urban and rural communities as a complement to the buildout of level 2 charging nationwide. The buildout of charging is expected to increase in the coming years in line with dozens of new EV models anticipated to hit North American roads as the shift to electrification takes hold.”

“Together with ChargePoint, we are harnessing the nation’s vast fuel retailing network to ensure that drivers of electric vehicles have a reliable place to fuel,” said NATSO President and CEO Lisa Mullings. “In order for consumers to move to EVs, they need to be confident that they will be able to refuel as reliably as they do today. With thousands of established locations crisscrossing the nation, the private sector will ensure that drivers of electric-powered cars will not suffer from range anxiety. We are well suited to efficiently meet customer demand for electricity while providing the amenities and safe experience that they have come to expect as they refuel.”

“Kum & Go is looking to the future with electric vehicle charging,” said Ken Kleemeier, Vice President, Fuels at Kum & Go. “The marketplace is moving in this direction, and Kum & Go is putting the infrastructure in place to ensure that we are ahead of the curve.”

"We believe that EV charging will be an important service that our customers will demand in the years ahead,” said Brian Couch, Owner of Donna’s Travel Plaza in Tulalip, Washington. “We are happy to be working with NATSO and ChargePoint to help us begin offering these services to our customers."

As part of an MOU announced in February 2020, the two organizations agreed that the National Highway Charging Collaborative will, by 2030:

• Deploy charging infrastructure at 4,000 travel centers and fuel stops, leveraging $1 billion in capital.
• Provide charging infrastructure at fueling locations across the United States with a focus on connecting rural communities.
• Expand availability of charging infrastructure and connect existing Federal Highway Administration-designated FAST Act corridors.
• Work together to achieve policy outcomes to support each of these objectives.

The Collaborative also advocates for public policies that are designed to create a business case for off-highway fuel retailers to invest in EV charging infrastructure. In those jurisdictions, the initiative continues to identify an increasing number of public and private funding sources available to support the expansion of EV charging at strategically determined locations.

For more information about the National Highway Collaborative, visit nationalhighwaychargingcollaborative.com.

About ChargePoint

ChargePoint is creating the new fueling network to move all people and goods on electricity. Since 2007, ChargePoint has been committed to making it easy for businesses and drivers to go electric with one of the largest EV charging networks and most complete portfolio of charging solutions available today. ChargePoint’s cloud subscription platform and software-defined charging hardware are designed to include options for every charging scenario from home and multifamily to workplace, parking, hospitality, retail and transport fleets of all types. Today, one ChargePoint account provides access to hundreds-of-thousands of places to charge in North America and Europe. To date, more than 90 million charging sessions have been delivered, with drivers plugging into the ChargePoint network approximately every two seconds. For more information, visit the ChargePoint pressroom, the ChargePoint Investor Relations site, or contact ChargePoint’s North American or European press offices or the Investor Relations team.

About NATSO

NATSO has been representing travel plaza and truckstop owners and operators for nearly 60 years and pursues a clear mission: to advance the success of truckstop and travel plaza members by delivering solutions to members’ challenges and achieving the public policy goals of the truckstop and travel plaza industry. Headquartered just outside Washington, D.C., NATSO is the only national trade association representing the travel plaza and truckstop industry. NATSO advances the industry’s interests on highway issues such as commercialization, tolling and truck parking and represents the industry on environmental and energy issues. Contact: Tiffany Wlazlowski Neuman, Vice President, Public Affairs.

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FAQ

What is ChargePoint's role in the National Highway Charging Collaborative?

ChargePoint is leading the deployment of EV charging stations at travel plazas and fuel stops across the U.S. through the National Highway Charging Collaborative.

How much funding is allocated for the National Highway Charging Collaborative?

The initiative leverages $1 billion in public and private capital to expand EV charging infrastructure.

What are the goals of the National Highway Charging Collaborative by 2030?

The Collaborative aims to deploy charging infrastructure at over 4,000 locations, enhance rural access, and support EV adoption.

How many charging spots have been funded in the first year of the Collaborative?

In its first year, the Collaborative funded more than 150 DC fast charging spots.

Which states are benefiting from the collaborative's charging initiatives?

The initiative connects communities in states like California, Florida, Iowa, Missouri, and Washington.