EVPowerPulse Issue #31

Strategic partnerships drive urban charging growth, New York opens $21M in NEVI funds, and electric boats present an untapped opportunity.

Author

Steve Taylor
September 28, 2024

Illustrated by Kaylin Duynstee

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Hi everyone,

Here are today’s stories:

  • GM Energy and EVgo announced a plan for 400 EV charging stalls, and bp pulse and LAZ Parking are investing in urban EV charging. 

  • New York opened up $21M in NEVI funds. 

  • Electric boats present interesting opportunities in the EV landscape.

Enjoy this morning’s issue. 

–Steve 

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Current EVents

EV Industry Updates

Two major partnerships are positioned to tackle the increasing demand for convenient EV charging in densely populated areas. GM Energy and EVgo have announced plans to establish 400 “flagship” EV charging stalls across seven states, while bp pulse is collaborating with LAZ Parking to install fast chargers in urban parking garages.

GM and EVgo will roll out co-branded stations in Arizona, California, Florida, Georgia, Michigan, New York, and Texas, featuring up to 20 fast-charging stalls capable of delivering speeds up to 350kW. These locations will include amenities such as shopping, food, and coffee shops, along with pull-through stations, security cameras, and well-lit gas station-style canopies. This effort builds on their existing partnership, which had already launched 1,000 fast-charging stalls as of August 2023.

At the same time, bp pulse’s partnership with LAZ Parking will bring high-speed charging to parking garages in 20 U.S. cities over the next five years. Cities such as Boston, Chicago, New York, San Francisco, Los Angeles, Dallas, Washington, and Las Vegas are expected to benefit. The chargers, rated at 250kW or higher, will enable EVs to charge in 30-45 minutes, with drivers using the bp pulse app receiving one hour of free parking.

Steve's Take:

These partnerships’ focus on urban areas is important, as they target a demographic that has traditionally faced obstacles to EV ownership due to the lack of home charging options.

GM and EVgo’s strategy of establishing “flagship” stations mirrors the familiar gas station model. By integrating amenities with charging facilities, they’re creating a more attractive, recognizable, and convenient experience for EV drivers.

bp pulse’s partnership with LAZ Parking is equally compelling. By utilizing existing parking infrastructure in city centers, they offer a practical solution to the challenge of installing chargers in densely populated areas.

Both initiatives highlight the impact and importance of strategic collaborations in accelerating EV infrastructure development, a topic we’ve covered extensively in this newsletter. These efforts are delivering well-rounded solutions that address multiple aspects of the EV infrastructure challenge in the United States.

–Steve

Power and Policy

Governor Kathy Hochul has announced $21M in funding to expand New York’s fast charging network. This initiative, supported by the NEVI program, aims to enhance access to reliable EV charging infrastructure throughout the state.

The competitive Upstate NEVI Direct Current Fast Charger program will initially target areas along and north of I-84, extending to the Canadian border and westbound to Buffalo. The program will be managed by the New York State Energy Research and Development Authority (NYSERDA) in collaboration with the New York State Department of Transportation (NYSDOT).

To qualify for funding, proposed charging sites must meet federal criteria such as proximity to highway exits, 24/7 public access, and the ability to charge at least four EVs simultaneously. The state is prioritizing projects that fill gaps in the current network, offer amenities like restrooms and food, and include multiple types of charging connectors.

This initiative aligns with New York’s broader push to phase out gas-powered vehicles and lower emissions. Governor Hochul highlighted that this federal funding complements the state’s ongoing investments in clean transportation infrastructure.

Rob's Take:

New York’s announcement of $21M in NEVI funding for EV fast charging infrastructure reinforces the state’s ongoing commitment to developing a comprehensive charging network. This funding is part of a broader effort to accelerate EV adoption and expand infrastructure across New York.

By prioritizing user-friendly features like amenities and multiple connector types, New York is iterating its approach based on lessons learned from previous rollouts. This focus on enhancing the user experience could improve public trust in the reliability and convenience of EV charging.

However, as with all NEVI-funded projects, the true measure of success will be in the execution at the state level. It’s encouraging to see New York continue advancing its EV goals by making the most of available federal resources.

–Rob 

Emerging EV Tech

The electrification of transportation is expanding beyond roads and into the marine industry, with companies like Arc Boats, Candela, Voltari Electric, Pure Watercraft, Aquawatt, and Vision Marine Technologies leading the way.

California-based Arc Boats is producing electric vessels for water activities like wakeboarding and water skiing, while Swedish company Candela is focusing on hydrofoil technology that reduces energy consumption by lifting boats out of the water.

Arc Boats is targeting the luxury market, offering sleek, high-performance boats. Their latest model, the Arc Sport, is powered by a 226-kilowatt battery and a 500-horsepower motor, providing strong performance without the noise and emissions of traditional gas-powered boats.

Candela takes a more technical approach, using computer-controlled hydrofoils to enhance efficiency. Their C-8 model recently set a world record by completing a 150-nautical-mile round trip across the Baltic Sea, demonstrating the long-range capabilities of electric boats.

Voltari Electric is also focusing on high-performance, luxury vessels. Their flagship model, the Voltari 260, features a 142-kilowatt-hour battery and a 740-horsepower motor, capable of speeds over 60 mph. Its carbon fiber construction and advanced engineering offer performance (speed and agility) without the environmental drawbacks associated with traditional powerboats, such as air, water, and noise pollution.

Electric boats present several benefits, including quieter operation, lower maintenance, and reduced fuel costs. For example, during Candela’s record-setting journey, a gasoline-powered chase boat used approximately 750€ ($787) worth of fuel, while the electric C-8’s charging costs would have been around 50€ ($52.50).

These companies demonstrate the diversity in the electric boat industry, offering luxury vessels, eco-friendly recreational boats, and electric outboard systems. As interest in sustainable boating grows, competition in this space will likely increase, driven by advancements in battery technology, range, and design innovation.

Steve's Take:

While electric vehicles have captured most of the headlines, the marine industry offers unique opportunities and challenges for electrification.

As electric boats gain traction, demand for charging infrastructure at marinas and waterfront properties is expected to rise. This shift could create new markets for charging station manufacturers and operators, driving innovations like floating charging stations or integrated dock-charging systems.

The technologies being developed for electric boats, including high-density marine batteries and electric propulsion systems, may also have broader applications in the EV industry. For example, advancements in waterproof battery technology could prove valuable for EVs in flood-prone areas.

From an investment perspective, the electric boat market presents a promising but underdeveloped opportunity. While still niche, it has significant growth potential, especially as environmental regulations on waterways tighten. Companies that can effectively tap into this emerging market could find themselves well-positioned as the marine industry continues to shift toward electric power.

For EV charging infrastructure providers, the rise of electric boats highlights the need to think beyond the automotive sector. As electrification expands to other forms of transportation, including boats and small aircraft, new opportunities will emerge to diversify and expand charging networks.

The electric boat industry demonstrates that the EV revolution extends well beyond the road. As we continue to build out EV infrastructure, it’s important to consider the needs of all electric vehicles, whether they operate on land, water, or in the air.

–Steve

Featured EV Industry Jobs

You can find more EV industry jobs here.

EV INDUSTRY STAT OF THE WEEK

Stable Auto analyzed data from 47,000 non-Tesla chargers across the U.S. and observed an increase in charger utilization, growing from an average of 12.9% in July 2023 to 17.1% in June 2024.

EV Charging the News

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⚡️Steve and Rob

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