Retail Giants Step Up: Costco, Ikea, Target, and Walmart Join the EV Charging Movement

by TTAC Staff

Published: March 6th, 2024

Photo credit: allnikartas / Shutterstock.com

A recent study by Consumer Reports sheds light on the current landscape of electric vehicle (EV) charging stations in the United States, focusing on the role of retailers. The research, which examined over 270,000 store locations across various retail categories, reveals a vast potential for growth in EV infrastructure through retail participation. Despite the low presence of EV charging facilities at retail locations, there are substantial benefits and federal incentives available for retailers willing to invest in this area.

Retailers and EV Charging Availability

The analysis encompassed a broad range of retail categories, including big box stores, grocery stores, drugstores, department stores, convenience stores, and discount stores. Findings indicate that EV charging stations are notably scarce across all retail types, with an average availability ranging from one in every 14 big box store locations to one in every 40 department stores. This scarcity highlights a significant gap in the current EV infrastructure and the opportunity for retailers to become more involved.

Benefits of EV Charging for Retailers

The addition of EV charging stations not only serves the growing number of EV drivers but also offers several advantages for retailers. Data suggests that installing EV chargers can increase store foot traffic by an average of 4 percent and revenue by 5 percent. Moreover, the majority of retail locations in the U.S. qualify for federal benefits that cover 30 percent (up to $100,000) of the installation costs, making it a financially viable initiative for many businesses.

The Triple Bottom Line

Installing EV chargers aligns with the concept of the triple bottom line, benefiting people, the planet, and profits. Retailers can attract more customers, enhance their brand image, and take advantage of federal incentives. Additionally, the strategic placement of charging stations can make sustainable transportation options more accessible to all communities, emphasizing the importance of equity in these efforts.

Consumer Interest and Retailer Commitment

The study also includes survey data revealing that many Americans are considering EVs, but the lack of convenient charging options poses a significant barrier. While some retailers like IKEA have made notable progress by offering EV charging at nearly all of their U.S. locations, others lag far behind, with no leading fast-food chains providing significant EV charging facilities.

Recommendations for Retailers

To address the growing need for EV infrastructure, Consumer Reports urges retailers to:

Establish and adhere to specific timelines for EV charger installation.
Consider equity in site selection to ensure accessibility in underserved communities.
Educate both customers and employees about EV charging.
Maintain transparency regarding charging locations and services.
Ensure the durability and reliability of charging stations through proper maintenance.

Conclusion

Retailers possess a unique opportunity to play a crucial role in expanding the EV charging network across the United States. By investing in EV infrastructure, retailers can not only contribute to the environmental cause but also derive economic benefits through increased customer engagement. The encouragement of federal incentives further supports this initiative, offering a strategic avenue for businesses to partake in the clean transportation future.

This article was co-written using AI and was then heavily edited and optimized by our editorial team.

TTAC Staff

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FreedMike Not surprisingly, I have some ideas. What Cadillac needs, I think, is a statement. They don’t really have an identity. They’re trying a statement car with the Celestiq, and while that’s the right idea, it has the wrong styling and a really wrong price tag. So, here’s a first step: instead of a sedan, do a huge, fast, capable and ridiculously smooth and quiet electric touring coupe. If you want an example of what I’m thinking of, check out the magnificent Rolls-Royce Spectre. But this Cadillac coupe would be uniquely American, it’d be named “Eldorado,” and it’d be a lot cheaper than the $450,000 Spectre – call it a buck twenty-five, with a range of bespoke options for prospective buyers that would make each one somewhat unique. Make it 220 inches long, on the same platform as the Celestiq, give it retro ‘60s styling (or you could do a ‘50s or ‘70s throwback, I suppose), and at least 700 horsepower, standard. Why electric? It’s the ultimate throwback to ‘60s powertrains: effortlessly fast, smooth, and quiet, but with a ton more horsepower. It’s the perfect drivetrain for a dignified touring coupe. In fact, I’d skip any mention of environmental responsibility in this car’s marketing – sell it on how it drives, period.  How many would they sell? Not many. But the point of the exercise is to do something that will turn heads and show people what this brand can do.  Second step: give the lineup a mix of electric and gas models, and make Cadillac gas engines bespoke to the brand. If they need to use generic GM engine designs, fine – take those engines and massage them thoroughly into something special to Cadillac, with specific tuning and output. No Cadillac should leave the factory with an engine straight out of a Malibu or a four-banger Silverado. Third step: a complete line-wide interior redo. Stop the cheapness that’s all over the current sedans and crossovers. Just stop it. Use the Lyriq as a blueprint – it’s a big improvement over the current crop and a good first step. I’d also say Cadillac has a good blend of screen-controlled and switch-controlled user interfaces; don’t give into the haptic-touch and wall-to-wall screen thing. (On the subject of Caddy interiors – as much as I bag on the Celestiq, check out the interior on that thing. Wow.)Fourth step: Blackwing All The Things – some gas, others electric. And keep the electric/gas mix so buyers have a choice.Fifth step: be patient. That’s not easy, but if they’re doing a brand reset, it’ll take time. 
NJRide So if GM was serious about selling this why no updates for so long? Or make something truly unique instead of something that looked like a downmarket Altima?
Kmars2009 I rented one last fall while visiting Ohio. Not a bad car...but not a great car either. I think it needs a new version. But CUVs are King... unfortunately!
Ajla Remember when Cadillac introduced an entirely new V8 and proceeded to install it in only 800 cars before cancelling everything?
Bouzouki Cadillac (aka GM!!) made so many mistakes over the past 40 years, right up to today, one could make a MBA course of it. Others have alluded to them, there is not enough room for me to recite them in a flowing, cohesive manner.Cadillac today is literally a tarted-up Chevrolet. They are nice cars, and the "aura" of the Cadillac name still works on several (mostly female) consumers who are not car enthusiasts.The CT4 and CT5 offer superlative ride and handling, and even performance--but, it is wrapped in sheet metal that (at least I think) looks awful, with (still) sub-par interiors. They are niche cars. They are the last gasp of the Alpha platform--which I have been told by people close to it, was meant to be a Pontiac "BMW 3-series". The bankruptcy killed Pontiac, but the Alpha had been mostly engineered, so it was "Cadillac-ized" with the new "edgy" CTS styling.Most Cadillacs sold are crossovers. The most profitable "Cadillac" is the Escalade (note that GM never jack up the name on THAT!).The question posed here is rather irrelevant. NO ONE has "a blank check", because GM (any company or corporation) does not have bottomless resources.Better styling, and superlative "performance" (by that, I mean being among the best in noise, harshness, handling, performance, reliablity, quality) would cost a lot of money.Post-bankruptcy GM actually tried. No one here mentioned GM's effort to do just that: the "Omega" platform, aka CT6.The (horribly misnamed) CT6 was actually a credible Mercedes/Lexus competitor. I'm sure it cost GM a fortune to develop (the platform was unique, not shared with any other car. The top-of-the-line ORIGINAL Blackwing V8 was also unique, expensive, and ultimately...very few were sold. All of this is a LOT of money).I used to know the sales numbers, and my sense was the CT6 sold about HALF the units GM projected. More importantly, it sold about half to two thirds the volume of the S-Class (which cost a lot more in 201x)Many of your fixed cost are predicated on volume. One way to improve your business case (if the right people want to get the Green Light) is to inflate your projected volumes. This lowers the unit cost for seats, mufflers, control arms, etc, and makes the vehicle more profitable--on paper.Suppliers tool up to make the number of parts the carmaker projects. However, if the volume is less than expected, the automaker has to make up the difference.So, unfortunately, not only was the CT6 an expensive car to build, but Cadillac's weak "brand equity" limited how much GM could charge (and these were still pricey cars in 2016-18, a "base" car was ).Other than the name, the "Omega" could have marked the starting point for Cadillac to once again be the standard of the world. Other than the awful name (Fleetwood, Elegante, Paramount, even ParAMOUR would be better), and offering the basest car with a FOUR cylinder turbo on the base car (incredibly moronic!), it was very good car and a CREDIBLE Mercedes S-Class/Lexus LS400 alternative. While I cannot know if the novel aluminum body was worth the cost (very expensive and complex to build), the bragging rights were legit--a LARGE car that was lighter, but had good body rigidity. No surprise, the interior was not the best, but the gap with the big boys was as close as GM has done in the luxury sphere.Mary Barra decided that profits today and tomorrow were more important than gambling on profits in 2025 and later. Having sunk a TON of money, and even done a mid-cycle enhancement, complete with the new Blackwing engine (which copied BMW with the twin turbos nestled in the "V"!), in fall 2018 GM announced it was discontinuing the car, and closing the assembly plant it was built in. (And so you know, building different platforms on the same line is very challenging and considerably less efficient in terms of capital and labor costs than the same platform, or better yet, the same model).So now, GM is anticipating that, as the car market "goes electric" (if you can call it that--more like the Federal Government and EU and even China PUSHING electric cars), they can make electric Cadillacs that are "prestige". The Cadillac Celestique is the opening salvo--$340,000. We will see how it works out.