CharegPoint Partners with Gatik
ChargePoint (NYSE: CHPT), a leading electric vehicle (EV) charging network, and Gatik announced a strategic partnership to develop an electric ecosystem for autonomous vehicles designed to maximize sustainability, operational efficiency and economics for ChargePoint and Gatik’s customers across North America. Through the partnership, infrastructure and integrated services will play a significant role in helping to decarbonize the B2B short-haul logistics sector and will offer a simple and seamless solution to help Gatik and ChargePoint’s customers meet their corporate sustainability goals.
“Our partnership with Gatik will help more fleets to realize their e-mobility and decarbonization goals,” said Rich Mohr, Vice President, Fleet at ChargePoint. “ChargePoint has proven experience across multiple customer applications and use cases. Together, ChargePoint and Gatik will provide industry-leading infrastructure and technologies for forward-thinking fleets.”
“Gatik’s autonomous electric fleet is uniquely positioned to increase efficiency and reliability across the supply chain’s middle mile, and drive sustainability across critical operational metrics for our customers,” said Arjun Narang, Co-founder and CTO at Gatik. “Our partnership with ChargePoint will ensure that we’re not only meeting intensifying demand for our product offering and service, but offering our customers access to national charging infrastructure and a wealth of technical advantages to support them in meeting their corporate sustainability goals.”
Customers transporting goods in Gatik’s autonomous electric fleet will have access to ChargePoint’s expertise in site design, interoperability validation, and lower investment costs. Gatik will also have access to a nationwide charging network and fleet-specific software that provides telematics intelligence configurable to each customer’s operations, as well as modular charging hardware to minimize upfront costs by reducing required electrical capacity. This strategic electric ecosystem collaboration for the middle mile will play a key role in the electrified logistics sector.
Powered by ChargePoint’s scalable and reliable charging technology, Gatik launched its first autonomous electric box trucks with Walmart in 2021, a groundbreaking solution offering hyper-efficient goods movement, significant emissions reductions and impactful savings on fuel and powertrain maintenance costs. As the retail, E-commerce and logistics sectors look to decrease their carbon footprints, demand for Gatik’s product offering among national retail and E-Commerce giants has soared, leading to rapid expansion of ChargePoint’s infrastructure at Gatik’s vehicle depots and customer locations across existing and emerging markets.
With consumer expectations for real-time access to goods increasing faster than the most confident predictions, there has been an influx of freight-moving vehicles added to North America’s roads. This has made sustainability both a collective challenge and a collective responsibility for leaders in the logistics industry to contend with. Gatik’s partnership with ChargePoint ensures customers have access to Gatik’s class 3-6 autonomous electric fleet and ChargePoint’s charging infrastructure and integrated services to support a cleaner, more efficient and sustainable logistics sector.
ChargePoint Partners with GSRP for Financing for CPaaS
ChargePoint (NYSE: CHPT), a leading electric vehicle (EV) charging network, announced a partnership with Goldman Sachs Renewable Power (GSRP), a strategic, long-term investor in clean energy projects. Together, ChargePoint and Goldman Sachs Renewable Power are introducing new tailored financing solutions as part of the ChargePoint as a Service® (CPaaS®) product family to reduce upfront costs of EV charging technology for eligible customers.
Through this unique partnership, eligible customers can choose the CPaaS option that best fits their needs, which now includes both financed and turnkey charging. The new financed option enables customers to pay for charging infrastructure as an operational expense, and the turnkey option enables customers offering public charging to host a station at zero cost to them. This partnership will enable customers to implement a superior EV charging solution at no capital expense.
Charging for businesses serving drivers
For retail and fueling and convenience applications, ChargePoint is the only network with an integrated portfolio of hardware, cloud-based services and support, delivering the smoothest possible experience for all businesses serving EV drivers. With this partnership, ChargePoint and Goldman Sachs Renewable Power are offering both financed and turnkey options to retailers, including end-to-end construction, installation and maintenance. ChargePoint charging software and driver-facing applications enable site hosts to easily manage EV charging, attract and connect with drivers, and drive in-store purchases via custom branding, promotions and integrations with loyalty programs, even as they enjoy zero capital expense for charging infrastructure.
The move to fleet electrification just got easier
For fleet applications, ChargePoint and Goldman Sachs Renewable Power offer a financed solution that enables fleets to retain control of their utility meter, which includes charging infrastructure and support with construction, installation and maintenance all for a monthly fee. The ChargePoint global fleet solution portfolio includes everything fleets need to electrify and optimize fueling as they grow, including fleet software for dynamic charging optimization to ensure uptime for mission-critical vehicles, fuel cost management, and integrations with telematics and fuel-card partners.
– Cars.com™ (NYSE: CARS), the car-shopping marketplace, reveals its 2022 “Top Picks” for electric vehicles. In conjunction with the company’s new EV Buying Guide. Cars.com experts examined the price, range, comfort and features of 30-plus EV models on sale in the first quarter of 2022 to determine the Top Picks for Value, Families, Luxury and Commuters.
“We have been sharing news and research on EVs ever since we reviewed our first Nissan Leaf over a decade ago,” says Jenni Newman, Cars.com editor-in-chief. “As consumer interest for EVs grows due to rising gas prices and other current events, we know shoppers have questions about what EV options are available, how much they cost, what the ownership experience is like and more. Our 2022 EV Buying Guide and Top Picks help shoppers answer those questions and cut through the noise to find the right EV for their lifestyle.”
Cars.com Reveals Top EVs & Buying Guide
Cars.com’s 2022 Top EV Picks, which can be found in the Cars.com EV Buying Guide, are:
- Value — 2022 Volkswagen ID.4: The Volkswagen ID.4 is a compact SUV that offers a lot of electric car for the money. The average starting price for EVs is $60,000, giving the ID.4 a leg up with a starting price of $41,669 (all prices include destination) and a powerful punch of standard features like LED headlights, heated front seats, a heated steering wheel, a 10-inch touchscreen navigation system, wireless device charging, Volkswagen’s suite of active-safety and driver-assist features, and wireless Apple CarPay and Android Auto smartphone connectivity. New ID.4 owners also get three years of unlimited 30-minute DC fast-charging sessions at Electrify America chargers for no extra cost.
- Families — 2022 Hyundai Ioniq 5: The 2022 Hyundai Ioniq 5 is a compact SUV that features an extra-roomy interior, giving parents the flexibility needed to carry all necessary items when traveling short and long distances with children. Starting at $44,895, the Ioniq 5 comes with a sizable backseat that slides forward and back — providing owners plenty of space in the cargo area — and the top trim level pampers parents with built-in sunshades and a retractable sunshade for its panoramic moonroof. The Ioniq 5’s relaxed, composed ride on highways stands out, as many EVs have quirky ride quality, giving it nearly equal footing with many traditional gas-powered family SUVs.
- Luxury — 2022 Lucid Air: The first offering from upstart Lucid, the 2022 Air, is simply a next-level EV and a game changer for the market. With a base price of $170,000, the currently sold-out Air Dream Edition offers a stunning amount of cargo space, a multimedia system that’s more responsive and easier to use than Tesla’s, styling that’s incredibly slippery and still dead sexy, and an interior that rivals luxury-brand benchmarks for opulence and finish. The Air also handles as well as some of the world’s most high-powered sports sedans and provides mind-melting acceleration while managing to deliver a quiet, comfortable ride.
- Commuters — 2022 Chevrolet Bolt EV and Bolt EUV: With an EPA-estimated 259 miles, the front-wheel-drive four-door Bolt EV hatchback comes in at a starting price of $32,495 and has more than enough range for daily commuting; the longer, higher-riding Bolt EUV SUV provides more backseat legroom, hits an EPA-estimated 247 miles of range and starts at $34,495. Both Bolts are quick, fun to drive, and compact enough for congested streets and city parking, yet comfortable. While the Bolts are coming off a recent recall, further problems are unlikely for this established model.
Cars.com™ (NYSE: CARS), the car-shopping marketplace, announced the launched its EV Buying Guide, a comprehensive resource for shoppers considering an electric vehicle for their next vehicle purchase.
EV searches on Cars.com have nearly doubled since last year and have increased 173% from Feb. 24 to March 25.1 The war in Ukraine, proposed infrastructure legislation, rising gas prices and supply-chain issues are just a few drivers of market volatility that have spurred consumer interest in EVs. Perceived as a purchase that hedges against market swings, especially gas prices, EVs are gaining awareness and popularity, but actual purchases still lag due to extremely limited supply and several barriers to entry, with EVs constituting less than 1% of vehicles on the road.²
“Although we’re seeing EV interest on Cars.com at historic levels, today’s consumer momentum may not translate into action tomorrow. If gas prices stabilize, the public is likely to get complacent about making a change, a path they may regret during the next market swing,” said Newman. “Even if gas prices remain at record highs, factors such as cost, availability, infrastructure, education and awareness still present barriers to widespread adoption.”
Barriers to Purchase
More than half (52%) of Americans consider cost a significant obstacle to EV purchase, but even those without sticker shock may find securing the perfect EV match requires time and travel — especially given current inventory levels.³ Additionally, most people (70%) who do not currently own an EV don’t have a 240-volt outlet or an EV charging unit at home, and most (65%) do not have plans to install one or upgrade their electric service.³
Geographically, EV demand only sometimes corresponds with supply, much less infrastructure support, and lifestyle differences such as apartment living, towing needs and other factors can create hesitation for those who would otherwise take the EV plunge.
Supply Vs. Demand: Top 10 States
According to Cars.com, states such as California, Florida, Texas and Illinois are showing the strongest interest for EVs. States such as Georgia, Virginia, Pennsylvania and Arizona, meanwhile, do not have the inventory supply to keep up with increasing EV demand.
The following chart highlights EV demand versus supply on Cars.com in the top 10 U.S. states.
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DEMAND EV Visits on Cars.com by State |
SUPPLY EV Inventory on Cars.com by State |
|
California* |
California* |
|
Florida* |
New York* |
|
Texas* |
Texas* |
|
Illinois* |
Florida* |
|
Georgia |
Illinois* |
|
New York* |
Washington* |
|
Virginia |
New Jersey |
|
Pennsylvania |
Colorado |
|
Washington* |
Maryland |
|
Arizona |
Ohio |
*Appears in both lists
BorgWarner Buys Santroll
BorgWarner Inc. (NYSE: BWA) announced that it has completed its acquisition of Santroll Automotive Components, a carve-out of Santroll’s eMotor business. The acquisition is expected to strengthen BorgWarner’s vertical integration, scale, and portfolio breadth in light vehicle e-motors while allowing for increased speed to market.
NI Buys Testing form Kratzer
-NI (Nasdaq: NATI) announced it has entered into a definitive agreement to purchase the test systems business of Kratzer Automation AG, a European leader in providing holistic customer solutions for electrification (EV). This agreement further expands NI’s investment in the high growth area of vehicle electrification and enhances customer connections with key original equipment manufacturers (OEM).
By providing EV testing software and fully integrated test systems, NI will help enable customers to achieve the scale at which the EV market is growing, driven by consumer demand, global regulations, and the push for sustainable transportation. NI tests all critical components of EV including battery, inverter, and engine control. The combined strength of NI’s flexible EV Hardware and software test platform with Kratzer Automation AG’s application specific EV software and integration capabilities will provide holistic customer solutions that will enable faster responses to changing test needs, accelerating time to market and lowering total cost of test for a broader range of customers.
The transaction is expected to add approximately 2 percent to revenue in 2022. There should be minimal cost synergies, due to the complementary nature of the acquired business relative to NI’s transportation business. We expect this transaction to become accretive in year two through expected revenue synergy. NI will fund this transaction through cash drawn from its existing revolving credit facility. The deal is subject to statutory approvals and is expected to close in Q2 2022 with approximately 200 employees joining NI.
The focus of this acquisition is to accelerate NI’s ability to serve customers in high growth EV applications. This acquisition further strengthens the company’s ability to achieve the 2022 targets of 16 percent to 18 percent year over year revenue growth and we remain committed to our goal of 20 percent non-GAAP operating margin.
Low EV Inventory Can’t Match Demand Amid High Gas Prices
Currently, 55% of non-EV owners indicate they are considering an EV for their next purchase, and more than two-thirds would consider switching to electric if gas prices keep rising.³ More than half of recent EV buyers cite gas savings as the primary reason for their choice, and an overwhelming majority (85%) of current EV owners would buy electric again.3
Romeo Power Shipping Pedigree Packs
Romeo Power, Inc. (“Romeo Power” or the “Company”) (NYSE: RMO), an energy technology leader delivering advanced electrification solutions for complex commercial vehicle applications, announced that it has begun shipping the first production pedigree packs to a key customer that manufactures fully electric heavy-duty commercial vehicles.
This successful production launch is the culmination of a custom pack development program using Romeo’s off-the-shelf modules and battery management system. The 80 kWh packs were prototyped and manufactured in Romeo’s 112,000 square foot factory in Vernon, California.
“Romeo has just achieved a major milestone, not only for ourselves, but for zero-emissions commercial transportation as a whole. Our energy-dense batteries now power fully electric heavy-duty vehicles that are expected to travel up to 350 miles on a single charge,” said Susan Brennan, Romeo’s Chief Executive Officer. “It’s thrilling to see our battery technology enable this important step in electrification.”
Romeo will continue to expand production capacity for this and other customers in its new Cypress factory. Production is scheduled to commence in the new factory later this year with the transition from Vernon to Cypress expected to be completed during the third quarter of 2022.
Telsa Delivers 310,000 in Q1
In the first quarter, Tesla produced over 305,000 vehicles and delivered over 310,000 vehicles, despite ongoing supply chain challenges and factory shutdowns.
|
Production |
Deliveries |
Subject to operating lease accounting |
|
|
Model S/X |
14,218 |
14,724 |
17% |
|
Model 3/Y |
291,189 |
295,324 |
3% |
|
Total |
305,407 |
310,048 |
4% |
Tesla will post its financial results for the first quarter of 2022 after market close on Wednesday, April 20, 2022
InCharge Energy as a Service
InCharge Energy, the fleet electrification services leader, announced the launch of its latest turnkey solution, InCharge as a Service. This EV charging subscription offering provides commercial fleets the infrastructure they need pegged to an uptime standard and paid for on a monthly or variable basis, without the stress of directly owning and operating the infrastructure themselves.
“Our first fleet partners are already appreciating focusing on what they do best – operating their fleets – because we are focused on operating their chargers,” said Terry O’Day, COO of InCharge Energy. “InCharge as a Service is a great solution to some of the challenges with fleet electrification, like hefty upfront investments, future-proofing those investments and balancing these costs between capital expenditures or operating expenditures. Perhaps most importantly, it allows companies to consider charging costs as fully variable so that they can understand the cost and timeline to scale up their electrification plans.”
InCharge as a Service is a perfect option for fleets wanting a flexible EV charging solution that will scale as they add more EVs to their ranks. InCharge Energy bundles all the costs of an EV charging infrastructure into a monthly fee that varies based on utilization, making it much simpler for fleets to forecast and shifting the cost from a capital expenditure (CapEx) to an operating expenditure (OpEx). InCharge Energy’s rideshare partners are especially fond of this option, as it allows them to focus on scaling their business model, and as trucks come to market for logistics companies, food distribution fleets, and others, they are finding this solution allows their teams to achieve faster scale.
InCharge as a Service includes the following end-to-end support for fleet customers:
- Planning and engineering of the charging infrastructure, whether the customer chooses an existing site or needs assistance with new site acquisition
- Commissioning of charging hardware and any other additional equipment as needed
- Free installation of the commissioned charging hardware and other equipment
- Service and maintenance of the chargers, with issue response times within 24 hours
- Access to and unlimited configurations of the In-Control software platform for charger monitoring
- Processing of government incentives and carbon credits, which can be applied to cover the monthly operating costs
InCharge as a Service customers have two payment options – by the mile, which is the traditional offering, or on a kWh basis, which is unique to InCharge. With the per-kWh option, customers pay based on their monthly usage of the charging infrastructure. As a customer’s electrified fleet grows, so will their usage. For customers that are able to apply Low-Carbon Fuel Standard (LCFS) credits to this service, their costs will be covered the more their utilization grows.
SoGal Gas Installs 240 EV Chargers at 9 Locations
— Southern California Gas Co. (SoCalGas) took another major step toward its ASPIRE 2045 sustainability goals , announcing plans to install more than 240 electric vehicle (EV) chargers this year at nine company locations. SoCalGas also pledged to install EV chargers at 67 company facilities by the end of 2024, for a total of 1,500 new chargers over the next three years. A year ago, SoCalGas became the largest gas distribution utility in North America to set a net zero emissions target, consistent with California’s climate goals and the Paris Agreement. To help reach that goal, the company aims to replace 50% of its over-the-road fleet with clean fuel vehicles by 2025 and operate a 100% zero-emission fleet by 2035.
olvo Trucks North America has received its largest global order of Class 8 electric trucks to date with Performance Team – A Maersk Company, making a total commitment to purchase 126 Volvo VNR Electric trucks. The logistics company placed its first order of 16 Volvo VNR Electrics in Q3 2021 which Performance Team will begin operating in Q2 2022 in its Southern California fleet operations serving port drayage and warehouse distribution routes. Performance Team has ordered an additional 110 Volvo VNR Electric trucks to scale its zero-tailpipe emission freight logistics fleet in 2022. All 126 trucks are scheduled for deployment by Q1 2023.
BlueBird Corp 30 EV Orders from Modesto Schools
-Blue Bird Corporation (Nasdaq: BLBD), the leader in electric and low-emission school buses, has received the single largest order of electric school buses from a school district in its history. Modesto City Schools in California purchased 30 zero-emission school buses. The order enables the school district to rapidly convert nearly 50% of its diesel-powered bus fleet to clean energy. Thereby, Modesto City Schools will considerably reduce harmful greenhouse gas emissions while improving community health.
Modesto City Schools will benefit from significant cost saving opportunities by reducing or eliminating the fuel and maintenance costs tied to traditional diesel-powered vehicles. Select Blue Bird customers reported fuel costs of up to 49 cents per mile for their diesel buses, compared to an average 14 cents per mile in energy costs for electric buses. Modesto City Schools anticipates saving more than $250,000 a year in fuel costs alone by converting nearly half of its diesel-powered fleet to electric vehicles.
Nikola Corp & ENGS To Facilitate Sales
Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy infrastructure solutions, and ENGS Commercial Finance Co. (“ENGS”), a member of Mitsubishi HC Capital Group (“MHC”) and a market leading commercial finance company, announced a signed agreement to facilitate sales of Class 8 Nikola Tre battery-electric vehicles (BEVs) and Nikola Tre hydrogen fuel-cell electric vehicles (FCEVs).
With the increasing shift toward vehicle electrification, Magna is leveraging its market leading body and chassis expertise to provide innovative battery enclosures. The company announced that it is expanding its operations into Chatham, as an extension of its current operations in St. Thomas to support new business from Ford Motor Company.
The new 170,000 square foot facility is expected to create up to 150 new jobs and will produce battery enclosures for the Ford F-150 Lighting. Battery enclosures, which all electric vehicles require, house high-voltage batteries, electrical components, sensors and connectors, contributing to the structural and safety aspects of a vehicle’s frame and protecting critical components from potential impact, heat and water.
Wallbox Partners with CES
–Wallbox (NYSE:WBX), a leading provider of electric vehicle (EV) charging and energy management solutions worldwide, announced a partnership with City Electric Supply (CES). Under this partnership, the family-owned electrical wholesale distributor has officially started to sell the 48 Amp version of Wallbox’s award-winning smart home EV charger, Pulsar Plus, along with its Smart Power Meters and Pedestals online and in over 535 stores nationwide.