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Topgolf Partners With Volta to Add Electric Vehicle Charging Stations to Select Properties
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
partnership
Rhea-AI Summary
Volta Inc. (NYSE: VLTA) has partnered with Topgolf Entertainment Group to expand electric vehicle charging stations across the U.S. Initially implemented in seven locations, the partnership will add more stations in states including Arizona, California, Georgia, Illinois, Maryland, Oregon, and Texas. This initiative aims to enhance guest experiences while supporting the growth of EV adoption. Volta’s CEO emphasizes the importance of placing charging stations at venues where people spend time, thereby creating a seamless charging experience.
Positive
Partnership with Topgolf enhances brand visibility and market presence.
Expansion of electric vehicle charging stations is likely to attract EV users.
Supports the growing EV adoption in the U.S., aligning with industry trends.
Negative
Intense competition in the EV charging market could hinder growth.
Risks associated with construction and installation may delay expansion plans.
Uncertain market conditions may impact demand for EVs and charging stations.
New stations are supporting superior guest experiences at Topgolf venues across the country
SAN FRANCISCO--(BUSINESS WIRE)--
Volta Inc. (“Volta”), an industry leader in commerce-centric electric vehicle (“EV”) charging networks, today announced a partnership withTopgolf Entertainment Group, a global sports and entertainment company, to add electric charging stations to additional venues across the country. Charging stations have already been installed at select venues in Arizona, California, Georgia, Illinois, Maryland, Oregon and Texas, with additional locations planned across Arizona, California, Colorado, Georgia, Maryland, Michigan, South Carolina, Texas and Washington.
Topgolf Partners with Volta to Add Electric Vehicle Charging Stations to Select Properties (Photo: Business Wire)
In 2020, Topgolf and Volta kicked off a partnership bringing Volta charging stations to seven Topgolf locations across the country. Over the next 18 months, Topgolf plans to expand its relationship with Volta in new markets.
“Topgolf prioritizes providing a best-in-class guest experience for all,” said Rodney Ferrell, Vice President, Global Partnerships, Topgolf Entertainment Group. “Our partnership with Volta provides our guests with an easy, convenient way to charge their electric vehicles while also enhancing the overall experience of visiting Topgolf.”
“We believe that placing charging stations where people are already spending their time and money is essential to support the growing EV adoption in the U.S.,” said Scott Mercer, Founder and CEO of Volta. “We aim to provide not only a seamless charging experience for drivers, but also enable businesses to provide an added amenity for their guests and a way to lower their environmental impact.”
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 open-network charging stations in locations where drivers already spend their time and money, including grocery stores, pharmacies and other retail locations.
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.
Forward-Looking Statements
This press release includes forward-looking statements, which are subject to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as "feel,” “believes,” expects,” “estimates,” “projects,” “intends,” “should,” “is to be,” or the negative of such terms, or other comparable terminology and include, among other things, statements regarding Volta’s strategy and other future events that involve risks and uncertainties. Such forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein due to many factors, including, but not limited to: intense competition faced by Volta in the electric vehicle (“EV”) charging market and in its content activities; the possibility that Volta is not able to build on and develop strong relationships with real estate and retail partners to build out its charging network and content partners to expand its content sales activities; market conditions, including seasonality, that may impact the demand for EVs and EV charging stations or content on Volta’s digital displays; risks, cost overruns and delays associated with construction and installation of Volta’s charging stations; risks associated with any future expansion by Volta into additional international markets; cost increases, delays or new or increased taxation or other restrictions on the availability or cost of electricity; rapid technological change in the EV industry may require Volta to continue to develop new products and product innovations, which it may not be able to do successfully or without significant cost; the risk that Volta’s shift to including a pay-for-use charging business model and the requirement of mobile check-ins adversely impacts Volta’s ability to retain driver interest, content partners and site hosts; the EV market may not continue to grow as expected; and the ability to protect its intellectual property rights; and those factors discussed in Volta’s Annual Report on Form 10-K, as amended, under the heading “Risk Factors,” filed with the Securities and Exchange Commission (the “SEC”), as supplemented by Quarterly Reports on Form 10-Q, and other reports and documents Volta files from time to time with the SEC. Any forward-looking statements speak only as of the date on which they are made, and Volta undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.
