While many convenience stores and fuel stations are taking a wait-and-see approach to electric-vehicle charging, Pilot Co. said it plans to add EV charging stalls at its locations as demand grows.
“Pilot is well positioned to support increasing EV demand because most of our locations are along highly traveled corridors in 44 states across the country. Once we build out our initial network, we expect to continue to add chargers to our locations to support EV drivers as the demand for charging increases,” Tim Langenkamp, vice president of business development and sustainability at Pilot told CSP.
NEVI Funds
“Installations to our charging network are underway, with the first locations being publicly available this fall,” Langenkamp said. The company received about $9.6 million in National Electric Vehicle Infrastructure (NEVI) funds through DriveOhio for charging stations near Ohio interstates.
While Pilot, based in Knoxville, Tennessee, is being proactive in seeking government funds for EV charging stations, other convenience-store chains are holding off until they’re convinced their investments will be profitable.
Even if government funds covered 80% of the cost of installing chargers, Greg Garrison, president of Garrison’s Convenience Stores, Shamrock, Texas, isn’t confident the family-owned retailer would generate a return on its 20% investment, so it isn’t installing EV chargers yet, he told CSP.
“The problem is, I don’t think right now EV adoption is at a point where we could expect usage that would get us a return on that [investment],” he said.
Unless Garrison sees more EVs on the road, he’s not inclined to go after government funds for EV charging. Garrison’s also hasn’t embraced hydrogen, another alternative fuel some experts say holds promise. “For us, being a smaller payer, we’re not in a position to try things that aren’t proven yet,” Garrison said.
Pilot, on the other hand, regards providing EV charging as a way to extend its offerings.
“EV drivers will find the charging experience to be similar to a typical refueling stop while using our network with the benefits of Pilot’s 24/7 amenities, products and services. Our presence along major American interstates and roadways from coast to coast reassures current and future EV drivers that they can charge conveniently and safely wherever they are heading.”
Berkshire Hathaway
Berkshire Hathaway’s Jan. 31 acquisition of an additional 41.4% interest in Pilot Co. for $3.2 billion brought Berkshire’s ownership stake in Pilot Co. to 80%. As of Feb. 1, the giant conglomerate consolidated the convenience and fueling retailer’s financial reports into its railroad, utilities and energy business, the company said.
For the five months ending June 30, Pilot achieved net profits of $197 million on $24.3 billion in revenue, Berkshire Hathaway said. Pilot, owner of Pilot Travel Centers, Flying J Travel Plazas and One9 Fuel Network, generated about $14.75 billion in revenue in the second quarter, Berkshire Hathaway said.