Dive Brief:
- Global Partners LP, parent company of c-store brands like Alltown Fresh and XtraMart, plans to open three more electric vehicle charging stations by the end of this year and nine more in 2025, a company spokesperson said.
- The fuel and retail company, which already operates two company-owned EV chargers, is one of three businesses that the Massachusetts Department of Transportation tapped to help build out EV charging in the state through National Electric Vehicle Infrastructure (NEVI) funding. That program includes about $63 million in funding over five years.
- Global Partners has so far taken a measured approach to EV charging, having opened its first company-owned chargers more than a year ago at an XtraMart site in Worcester, Massachusetts.
Dive Insight:
Global Partners President and CEO Eric Slifka said during the company’s Q3 earnings call last week that working with MassDOT will help the company be more financially disciplined with building out its EV chargers and “limit the risk” that comes with investing in these sites. NEVI funding can cover up to 80% of the costs of installing chargers.
Global Partners has also received more than a million dollars so far from state and utility EV infrastructure incentive programs, the company’s spokesperson said.
Global Partners shared during an earnings call in May 2023 that it would focus on getting government funding to offset the costs of adding chargers because they were not bringing in much revenue. The company did not share updated stats about EV charging usage in its most recent earnings call.
“We are finalizing the list of our first tranche of sites to be included for development, and we are proud to partner with MassDOT on this important initiative to increase the number of reliable DC fast-charging locations in the Commonwealth,” said Slifka in last week’s call.
Global Partners, alongside fellow c-store company Applegreen and environmental services, design and engineering firm Weston & Sampson, are all working with the state of Massachusetts on its NEVI program.
In addition to its company-owned chargers, Global Partners also hosts third-party chargers at some locations.
This increased focus on EV charging isn’t the only shift Global Partners has made this year. The company has also made several additions to its foodservice leadership team and rebranded more than 60 Timewise stores to its Honey Farms banner.
