Nigro of Atlas Public Policy.Īt this time, it is unclear how many more charging-station operators will create supplemental ad businesses. The Inflation Reduction Act, which provides twice the amount of public funding made available to EV charging companies over the past 12 years, will create a “sugar high” as they rush to expand beyond major urban areas, said Mr. The biggest challenge ahead for these businesses may be building enough stations to keep up with demand. Large Ad Agency Networks Have Resisted the Economic Downturn-So Far August 22, 2022.Tennis Styles Fuel Seasonal Marketing Strategies August 23, 2022.Restaurants Send More Customer Calls to Voice Bots Amid Staffing Shortages August 24, 2022.Sensors at Volta stations can also target consumers by the model of vehicle they drive.īoth firms primarily make and install Level 2 stations, which let owners charge their vehicles while parked for extended periods of time, though they also operate a small number of far faster direct-current stations.ĭominates the latter market with 14,840 individual ports out of a total of 25,324 in the U.S., per Department of Energy data, and plans to open its charging network to other automakers in order to apply for public grants. Both say they can target consumers by geography, demographics and behavioral data, but GSTV says its units will not directly collect any consumer data, while Volta draws first-party data from its mobile app and combines that with retail partners’ customer-loyalty databases. McCaffrey, of GSTV, said that a key question for the shopping malls, movie theaters and fast-food chains that ChargePoint and GSTV plan to pitch is, “How do I begin to offer EV as an amenity to my consumers in a way that becomes affordable and scalable?”ĬhargePoint and Volta’s business models differ in several ways. Locations, and Volta signed contracts to build stations in partnership with supermarket conglomerate Earlier this year, ChargePoint announced that it would install roughly 60 direct-current “fast chargers” at The industry’s growth relies on deals with large retailers. A Michelin campaign that ran earlier this year led to a 70% increase in consumer awareness of the company’s EV-specific tires, according to Ms. Volta also encourages marketers to use its eight- or 15-second video ads to focus on sustainability messages, said Mr. states and territories.Ī Volta charging station and digital ad display outside an Atlanta-area Kroger.Ĭharging stations are a natural fit for automotive, packaged goods and entertainment brands, said Volta’s Mr. Volta has always based its business model around ad sales, and a spokesman said its network currently includes 5,400 screens and 2,920 individual charging ports across 28 U.S. II, will be ChargePoint’s most immediate competitor for ad dollars. Volta, which launched a media network in late 2021 after going public via a merger with blank-check firm Tortoise Acquisition Corp. Fournier, whose company has advertised on GSTV displays for several years along with brands such as “We want to make sure that our current customer base knows that we can service electric vehicles as well as their everyday vehicles across the board,” said Mr. Volta reported $15.3 million in revenue for the second quarter, with nearly 75% of that total coming from ad sales, but also lost $37.4 million.ĭirector of marketing and advertising at tire retail chain Discount Tire, said he has begun preliminary talks with GSTV about the new product. The company is expected to report earnings for its second fiscal quarter next week. “ could add some much-needed revenue to a business that doesn’t easily break even just selling electrons.”ĬhargePoint’s revenue for the quarter ended April 30 grew 102% year-over-year to $81.6 million, with $89.3 million in net losses. “In the next five to seven years in the U.S., there are going to be lots of runs at different business models to try to make the charging service profitable,” saidįounder of tech consultancy Atlas Public Policy. The number of stations that include display ads remains small at the moment, but analysts believe it will grow in coming years as EV businesses look for new revenue sources and both federal and state governments deploy billions of dollars to subsidize renewable fuel providers under the Infrastructure Investment and Jobs Act and the Inflation Reduction Act. WSJ’s George Downs breaks down a battery to explain why that’s going to be a challenge. President Biden’s Inflation Reduction Act calls for at least 50% of an electric vehicle’s battery to be made in the U.S.
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