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Some of the most high-traffic venues in the country — convenience stores, big-box retailers, travel centers and quick-stop restaurants — are having an aha! moment: adding electric vehicle chargers on site could bring in new customers to shop while their cars power up.
Subway announced plans to install EV chargers this week, while BP Products North America acquired TravelCenters of America, expanding its EV charging goals, this month.
The addition of EV charging hubs at popular retail, restaurant and travel center locations could be a tipping point for electrification, said Loren McDonald, analyst at EVAdoption.
Such businesses “see this as a long-term gain,” he said. “They are trying to figure it out.”
The list of retailers, restaurant groups and travel centers experimenting with EV charging is growing. Starbucks, 7-Eleven, Walmart, Target, Pilot Flying J, Love’s Travel Stops & Country Stores and others have launched EV charging initiatives. McDonald said that most regional and major convenience store chains have at least been testing on-site EV charging.
He estimates that about 1,500 restaurants across the U.S. offered Level 2 or Level 3 charging last year, based on an analysis of Alternative Fuels Data Center metrics.
Having a safe, comfortable place to charge is essential for drivers as electrification scales. A typical 10-minute fill-up at a gas station becomes a 30- to 40-minute power-up at an EV charger. EV owners want to charge up at a location that is near travel corridors, is well-lit and offers key amenities, such as restrooms, food and beverages, a place to sit and early and late hours.
Restaurants, stores and travel centers offer most or all of those essentials.
Subway is the latest restaurant group to announce plans to install EV chargers. The company will install chargers at some of its new and newly remodeled Subway restaurants and at new charging oasis parks with multiport charging canopies, picnic tables, Wi-Fi, restrooms, green space and playgrounds starting this year.
The company is partnering with GenZ EV Solutions and Red E Charging for the charging software and network. Subway said in a statement on Tuesday that its charging plans are designed to offer convenience for EV owners while generating incremental revenue for Subway franchisees. Customers may also receive Subway promotions for charging their vehicles.
The partnership “is a win for our guests, our franchisees and our planet, creating a dedicated space for drivers to charge their vehicle while enjoying their favorite Subway sandwich,” said Mike Kappitt, chief operating and insights officer for Subway.
BP this month purchased TravelCenters of America for $1.3 billion in cash. The acquisition will help BP expand new mobility offers, including EV charging, the company said in a statement. It comes less than a month after Electrify America and TravelCenters of America announced they would install 1,000 chargers along U.S. highways over five years.
BP said it plans to invest $27 billion to $33 billion in EV charging, convenience and bioenergy from 2023 to 2030. The company is targeting more than $1.5 billion in adjusted earnings from convenience and EV charging growth in 2025 and aims for more than $4 billion from the channels in 2030, according to the statement.
“By enabling growth in EV charging, biofuels and [renewable natural gas] and later hydrogen, we can help our customers decarbonize their fleets. It’s a compelling combination,” BP CEO Bernard Looney said in the statement.
Travel centers, retailers and restaurants must ensure they have sufficient power supply and attendants on site to troubleshoot charging problems for this model to be successful, but BP’s acquisition of TravelCenters of America emphasizes the importance of location and dwell time for EV charging, said McDonald. On-site charging ensures that the companies have prospective customers present for 30 to 40 minutes on average.
If drivers adjust their expectations around refueling, positioning it as a task that is done while they shop or eat, road trips will become more about quality than speed, McDonald said.
“That sort of paradigm … means that these convenience stores, travel centers, restaurants, etc., are going to be the future model for fast charging,” he added.