- Walmart (WMT) has revealed its intention to install electric vehicle charging stations at thousands of its U.S. stores by 2030. The expansion will add to the nearly 1,300 EV stations already available at 280 of the retailer’s locations, including Walmart and Sam’s Club stores. However, the company did not disclose the exact amount of investment planned for this initiative.
- Walmart is currently identifying suppliers for its national EV charging network, which it plans to own and operate. Each participating store is expected to have an average of four chargers, with the company adding more stations at Walmart and Sam's Club locations across the US. Walmart believes that the expansion of its EV charging network will make EV ownership more reliable, and is well-positioned to do so, given that its 4,700 stores and 600 Sam's Club locations are within 10 miles of about 90% of Americans.
Why it matters
Walmart has previously collaborated with EV charger providers EVgo and Electrify America, and has significantly expanded its network in the last two years. The Biden Administration has announced a $7.5 billion investment to establish a national charging network, particularly in low-income and rural areas, which is expected to increase EV sales. In January, EV sales made up 7% of new U.S. vehicle registrations.
