Many EV charging stations now offer advertising, generating crucial new revenue.
Key details
The largest operator of electric vehicle (EV) charging stations, ChargePoint, is partnering with digital display company Ara Labs and Destination Media, which produces video ads at gas stations.
Of the 50,063 charging stations in the U.S., ChargePoint operates 28,753.
The ads will go live in select areas this year. ChargePoint plans to install around 1,000 screens next year.
The displays will play three to five minute videos with news, weather, and pop-culture content interspersed with ads, similar to the display screens currently seen in gas stations.
As more EV chargers are installed, the ad space will likely continue to grow, targeting a group of upper income consumers.
Why it’s news
There is a major push to install more EV chargers, and a new revenue stream could expedite that effort.
If the chargers are not profitable to install, EV drivers will be left without a way to charge their vehicles.
Ad revenue could provide a much needed source of profit for the charging stations.
ChargePoint’s competitor Volta already advertises on its charging stations. The company has 5,400 screens and 2,920 charging stations in the U.S., according to The Wall Street Journal.
Partnerships with retailers will greatly affect the ability of EV companies to grow. Many charging stations are in the parking lots of retailers, allowing shoppers to charge while they shop. Advertisements right outside the store could be helpful to retailers.
ChargePoint announced a partnership with Starbucks to install 60 chargers and Volta has plans to partner with Kroger in New Jersey.