Hertz and BP are teaming up to establish a network of Electric Vehicle (EV) chargers across the US, as reported by The Verge. This is right on time as Hertz is currently growing its fleet of EV vehicles with plans to buy over 300,000 EVs from Polestar, Tesla, and GM.
The Deal
Details about the partnership are still under wraps. However, a report from CNBC said that the partnership involves BP installing chargers at 25 of Hertz's busiest airport locations. On the other hand, Hertz is also building EV chargers separately across 500 locations in the US. It is also noted that Hertz aims to have 3,000 chargers by the end of next year.
The partnership will require a lot of budget; therefore, CNN reported that Hertz might apply for federal funding of $7.5 million that will help build its network.
Also Read: Hertz to Allow Renting of 50,000 Tesla EVs For Uber Drivers
EV Chargers in the US
There is a lack of EV charging stations in the US, which also hinders many people from switching to an EV. On the other hand, those who have EVs often deal with broken or inoperable EV chargers. Currently, there are only over 40,000 chargers available in the US.
Fortunately, there's a light at the end of the EV charger tunnel, as President Joe Biden recently approved $900 million in funding for 35 states to build EV charging stations along 53,000 miles of highway in the US. Biden aims to have 500,000 chargers in the US by 2030.
The High Demand for EV Charging Networks Today
As global demand for EVs is expected to increase, so will the demand for EV chargers. This will result in the emergence of large-scale, fast-charging networks across countries, which can be easily accessed by all EV owners.
The establishment of a large-scale charging network is only possible with the help of organizations like Hertz and BP. With the help of funding from the federal government, many more organizations will likely roll out fast-charging networks within the US.
These networks will not only provide a means for EV owners to charge their vehicles but also make EVs more practical.
With the emergence of large-scale EV-charging networks, many car manufacturers learned that it's more cost-effective to build their own networks of EV chargers.
That is why there are several car manufacturers that have their own EV-charging networks. One is Tesla, which aims to have a large-scale network of fast-charging stations, which is known as the Tesla Supercharger network.
The network is already present in 71 countries and can charge up to half a million Tesla vehicles. The network also allows users to travel long distances without hassle, as they can refuel quickly.
Related Article: Polestar Begins the Delivery of 'Polestar 2' EVs to Hertz
This article is owned by Tech Times
Written by April Fowell
