Bulletin
Investor Alert

New York Markets Close in:

March 3, 2021, 1:58 a.m. EST

Top US utilities collaborate to build Electric Vehicle Charging Stations

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

or Cancel Already have a watchlist? Log In

Mar 03, 2021 (Market Insight Reports) -- Ottawa, Canada – Six major utilities unveiled a plan on Tuesday to add electric vehicle fast chargers to connect major highway systems across United States, as they look to cater to the burgeoning electric vehicle market.

The Electric Highway Coalition – made up of American Electric Power, Dominion Energy, Duke Energy, Entergy Corp, Southern Co and Tennessee Valley Authority – is looking to provide charging stations within their service territories from the Atlantic Coast, through the Midwest and South, and into the Gulf and Central Plains regions.

The initiative comes as President Joe Biden has made boosting electric vehicles a top priority and pledged to build 550,000 new EV charging stations. Automakers including Tesla Inc, BMW and General Motors plan major expansions in EV production.

  • According to report by Precedence Research, the global electric vehicle charging station market size is expected to surpass over USD 39.2 billion by the end of 2027 and witness a compound annual growth rate (CAGR) of 40.7% from 2020 to 2027.

  • Ask here for more information@ https://www.precedenceresearch.com/customization/1003

“The path to cleaner transportation is a robust charging infrastructure along the nation’s major highways,” said Lang Reynolds, director of Electrification Strategy for Duke Energy.

“Range anxiety is a barrier to more EV adoption. This coalition can erase those obstacles and help deliver the benefits of EV ownership to consumers,” Reynolds added.

American Electric Power said it is working with select customers across its service territory to help them understand the benefits of electrifying their own vehicle fleets.

COMTEX_382041425/2599/2021-03-03T01:58:21

Is there a problem with this press release? Contact the source provider Comtex at editorial@comtex.com. You can also contact MarketWatch Customer Service via our Customer Center.

This Story has 0 Comments
Be the first to comment

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.