Walmart's Ambitious EV Charger Network Plan: What You Need to Know

In a bid to promote sustainability and address one of the main concerns around EV adoption, Walmart is planning to install a nationwide network of electric vehicle (EV) charging stations by 2030. Walmart's new charging stations will complement its existing 1,300 EV charging stations placed at its Walmart and Sam's Club stores. With its stores and Sam's Club warehouses located within 10 miles of 90% of the US population, Walmart's EV charging network aims to ease range anxiety and promote EV adoption by offering consumers clean, bright, and safe charging locations.

One of the significant concerns around EV adoption is the lack of charging infrastructure. Walmart plans to install new EV charging stations that will quadruple its EV charging capacity to approximately 280 locations to help address the lack of infrastructure. The retailer expects the new charging stations to be direct current fast charging stations, with an average of four new stations installed per store. The move is not only seen as a profitable business for Walmart but also a competitive necessity and an extra revenue stream.

EV adoption is being accelerated by high gas prices, increasing state subsidies, and more affordable EV models. The Biden administration has committed to building 500,000 EV charging stations by 2030, and the recent $7.5 billion federal program aims to accelerate EV adoption and the buildout of charging stations nationwide. As of January 2023, the US has approximately 150,000 charging stations, and the US Energy Department forecasts that the charging station supply needs to increase fivefold by 2025 to meet demand.

Walmart's EV charging station buildout will not only address one of the main concerns for EV adoption but will also offer customers the ability to shop or eat while their EV is charging at a Walmart charging station. The ubiquity of Walmart and Sam's Club stores makes it easier for the retailer to address range anxiety and promote EV adoption. With S&P forecasting that EVs will comprise 40% of new vehicles by 2030, Walmart's plan to install new EV charging stations nationwide by 2030 is a step towards a sustainable future.