Chase Bank, EVgo to add EV charging stations at 50 US bank branches
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Source: EVgo
ChasePartnering with EVgoThe company announced Thursday that it will pilot charging stations for electric vehicles at selected branches throughout the country. This is part of the bank’s efforts to reduce carbon emissions and promote sustainability.
It stated that it plans to have 50 EV charging stations installed in branches throughout the country by 2023. Construction of the Carmel location has already started and it will open later this year.
There will be between one and six DC fast charging stations at each location, most with four. Chase customers will also have access to the chargers. This is so that everyone can use them.
Chase operates just more than 4,700 locations in the lower 48 States. Therefore, the 50 branches that have been selected represent only a fraction of Chase’s entire footprint.
Becky Griffin (chief administrative officer, consumer banking, JPMorgan Chase) said that JPMorgan Chase will be monitoring usage rates in order to decide whether or not to expand the pilot program.
She said that she had never done an installation like it before. “To the extent that we see success … we’ll evaluate and decide if we want to expand further.”
Griffin explained that Chase is continually looking for innovative ways to improve its network of branches, and the partnership seemed sensible given Chase’s real-estate footprint and associated parking lots.
California, Illinois and Indiana are the first 50 sites. They’re located in areas where there is high customer demand, such as New York, Oregon, Pennsylvania, New York, New York, Oregon, California, Illinois, Indiana and New York. Additionally, the locations are where people run daily errands and might have 15 or 40 minutes to spare, so installing fast chargers — rather than ones that take several hours — was a key part of the decision to partner with EVgo.
“Having access to fast charging in everyday settings of life — the local bank being a great example as well as an important community staple — is truly key,” EVgo CEO Cathy Zoi said in a statement.
Chase did not comment on the amount of the deal, nor the financial structure of partnership.
According to the company, it plans on adding solar panels at around 400 more branches before 2022. Over 350 branches currently have solar power. The company then uses the electricity to power its facilities.
Rooftop solar expansion is an easy way to reduce your company’s carbon emissions. Chase isn’t the only one using available land.
Target, Home DepotAnd Lowe’sThese are the major-box retailers who have successfully tested rooftop solar in specific areas. McDonald’s, SweetgreenAnd Restaurant Brands’Burger King is also looking into solar energy at certain locations.
— CNBC’s Hugh Son contributed reporting.
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