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Volta Collaborates With America’s Largest Grocer to Bring More EV Charging to Grocery Customers Nationwide
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Rhea-AI Summary
Volta Inc. (NYSE: VLTA) announced a collaboration with The Kroger Co. to introduce DC Fast and Level 2 charging stations at 16 locations in Atlanta and Indianapolis, with plans for expansion to cities including Columbus, Cincinnati, and Southern California. This initiative not only enhances EV charging access for consumers but also allows Kroger to leverage Volta's advertising capabilities to drive sales and environmental impact. The partnership aligns with Kroger's goals of sustainable retailing and expanding EV infrastructure nationwide.
Positive
Collaboration with Kroger expands Volta's charging network to 16 locations in key cities.
Opportunity for Kroger to utilize Volta's advertising platform to enhance retail media revenue.
Focus on sustainability aligns with market trends towards electric vehicle adoption.
Negative
Intense competition in the EV charging market could impact market share.
Potential risks associated with the construction and installation of charging stations.
Dependence on successful partnerships with retail and real estate sectors.
SAN FRANCISCO--(BUSINESS WIRE)--
Volta Inc. (NYSE: VLTA), an industry-leading electric vehicle (“EV”) charging network powering vehicles and commerce, today announced it has collaborated with The Kroger Co., America’s largest grocery retailer, to bring a mix of DC Fast and Level 2 Volta charging stations to Kroger customers nationwide. Volta has launched at 16 Kroger locations in the Atlanta and Indianapolis areas and plans to expand to Columbus, Cincinnati, Louisville, Nashville, Michigan, and Southern California throughout the year.
Volta Collaborates With America's Largest Grocer to Bring More EV Charging to Grocery Customers Nationwide (Photo: Business Wire)
Volta provides seamless and reliable public charging that complements consumers’ daily lives and routines — meeting people where they shop, work and play. With eye-catching, large-format digital screens strategically located steps away from the entrances of premier commercial locations, Volta stations double as an innovative media network, allowing brands to intercept consumers’ shopping lists shortly before they enter a store to make a purchase. Volta’s third-party measurement solutions enable the company to determine incremental sales lift and incremental return on ad spend (ROAS) at the store level for retailers and brands that run campaigns on the Volta network.
The collaboration enables Kroger to tap into Volta high-impact media inventory for its own advertising clients, expanding the power of the grocer’s retail media network and simultaneously driving measurable business results and environmental impact.
“Volta continues to accelerate the switch to electric transportation by making charging as convenient, accessible, and affordable as possible. At the same time, we are unlocking new economic opportunities for brands and retailers — proving businesses can thrive while building a sustainable future that benefits us all," said Brandt Hastings, Chief Commercial Officer at Volta. “We look forward to working with Kroger to create new customer experiences and bring critical EV infrastructure to communities nationwide.”
Enhancing customers access to electric vehicle charging is another milestone in the grocer’s ongoing mission around sustainable retailing, underscoring their commitment to reducing their climate impact.
About Volta
Volta Inc. (NYSE: VLTA) is an industry-leading electric vehicle (“EV”) charging network powering vehicles and commerce. 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 people’s 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 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 ability of Volta's new management team to successfully integrate into Volta and execute on Volta's business strategy; the EV market may not continue to grow as expected; and the ability to protect its intellectual property rights; and those risk factors discussed in Volta’s Annual Report on Form 10-K for the year ended December 31, 2021, Volta's Form 10-Q for the quarter ended March 31, 2022, filed with the Securities and Exchange Commission (the “SEC”) on May 13, 2022, and other 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.
