Volta and Macy's Expand Electric Vehicle Charging Stations

Rhea-AI Summary

Volta has expanded its partnership with Macy's to install more electric vehicle (EV) charging stations nationwide. Currently, around 100 stations are in operation at nearly 40 locations, with plans to add 20 more this year. This collaboration has positively impacted over 7.6 million miles of zero tailpipe emissions and offset 3.4 million pounds of CO₂. Volta's charging stations have increased 'shop and charge' visits at Macy's by 41%. The partnership aligns with Macy's commitment to sustainability and enhances customer engagement as part of Volta's innovative EV infrastructure strategy.

Positive

• Expansion of partnership with Macy's to increase EV charging stations by over 50%.
• Positive environmental impact with over 7.6 million miles of zero tailpipe emissions.
• 41% increase in 'shop and charge' visits at Macy's properties.
• Volta's unique business model enhances customer engagement and brand visibility.

Negative

• None.

NEW YORK, April 22, 2021 /PRNewswire/ -- Volta, the industry leader in commerce-centric electric vehicle charging networks, today announced the expansion of its partnership with Macy's to offer free charging to its customers at dozens of locations nationwide. Contributing to Macy's published commitment to sustainability, Volta will continue deploying its electric vehicle charging services at key Macy's properties. With approximately 100 Volta charging stations already installed at nearly 40 locations, Macy's will expand this environmentally friendly convenience by more than 50 percent this year, adding 20 locations with many more to come.

In 2014, Volta and Macy's kicked off a partnership that has exceeded expectations by all measures. Over the past seven years, Macy's and Volta have powered more than 7.6 million miles with zero tailpipe emissions. The partnership has further offset an estimated 3.4 million pounds of CO₂ emissions, delivered 2.2 million kWh and saved 305,100 gallons of gas through hundreds of thousands of charge sessions.

By also drawing more EV-driving customers, Volta's usage data indicate a 41 percent increase in "shop and charge" visits at Macy's properties.

"Our years-long partnership with the iconic Macy's brand is indicative of their continuing commitment to living up to their forward-thinking sustainability goals - while also developing innovative customer-driven experiences and amenities," said Scott Mercer, Founder and CEO of Volta. "The metrics stemming from our continuing and growing work together demonstrates how effective this business strategy can be."

"Macy's is committed to making a positive social impact in the communities where we live and work," said Dennis Mullahy, Chief Supply Chain Officer, Macy's, Inc. "Our partnership with Volta to add convenient, highly visible electric charging stations helps our customers lower their environmental impact and creates a meaningful opportunity for our brand to engage with shoppers as they arrive to begin their shopping experience."

Unique to the EV market, Volta's business model centers around evolving spending habits caused by the move to electric vehicles by building a charging infrastructure that reinforces desired behaviors at each location. Volta's charging stations feature large eye-catching digital displays that function as a sophisticated media network, providing brands a way to reach shoppers moments before they enter a store. These sponsor-supported charging stations provide energy to customers who are able to plug in their vehicles where and when they shop. Volta's business partners who choose to have Volta charging stations installed report an increase in spend, dwell time and engagement on site. Currently located in 23 states and over 200 municipalities, Volta's approach has gained significant acceptance and penetration in the market.

About Volta
Volta 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

In February 2021, Volta and Tortoise Acquisition Corp. II (NYSE: SNPR), a publicly traded special purpose acquisition company with a strategic focus on energy sustainability and decarbonizing transportation, announced they entered into a business combination agreement. Upon the closing of the transaction, which remains subject to customary closing conditions, the combined entity will be named Volta Inc. and remain on the New York Stock Exchange under the new ticker symbol "VLTA".

About Macy's
Macy's is America's Department Store. For more than 160 years, Macy's, the largest retail brand of Macy's, Inc., has served generations at every stage of their lives. Through a digitally led shopping experience powered by macys.com, our award-winning mobile app, and a nationwide portfolio of stores, Macy's customers come to us for fashion, value and high-quality products. We are proud of our heritage and the unique role we play in American culture and tradition. We celebrate occasions big and small, and have created decades of memorable experiences through Macy's 4th of July Fireworks^® and Macy's Thanksgiving Day Parade^®, as well as spectacular fashion shows, culinary events, flower shows, and celebrity appearances. With the collective support of our customers and colleagues, Macy's helps make a difference in every market we serve, supporting local and national charities through funding and volunteer service. With fashion, value and celebration as our guide, Macy's makes life shine brighter for our customers, colleagues, and communities.

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SOURCE Volta

FAQ

What is Volta's recent announcement regarding EV charging stations at Macy's?

Volta announced the expansion of its partnership with Macy's to add more EV charging stations, increasing their current installations significantly.

How many EV charging stations does Volta currently operate at Macy's?

Volta currently operates approximately 100 EV charging stations at nearly 40 Macy's locations.

What is the environmental impact of Volta's partnership with Macy's?

The partnership has led to offsetting an estimated 3.4 million pounds of CO₂ emissions and powered over 7.6 million miles with zero tailpipe emissions.

How much will Volta's partnership with Macy's grow in 2021?

Volta plans to expand the number of EV charging locations at Macy's by more than 50%, with 20 new locations added this year.

What is Volta's business model related to EV charging stations?

Volta's model focuses on placing charging stations at high-traffic areas, enhancing customer engagement through digital displays, while supporting sustainability.

What stock symbol is associated with Volta following its merger?

After the merger, Volta will trade under the ticker symbol 'VLTA' on the New York Stock Exchange.