Commercial Real Estate: The EV Sector Opportunity Hiding in Plain Sight

The nascent electric vehicle (“EV”) industry has presented an opportunity for sectors that weren’t traditionally associated with the automotive industry. Battery makers, for instance, are looking at a lucrative partnership with the EV sector for the foreseeable future, while tech companies such as Sony and Apple are slowly wading into the electric vehicle space as well. As demand for electric vehicles rises and green vehicles take over the roads, those in commercial real estate will be looking at a lucrative business opportunity: EV charging stations.

Unlike conventional vehicles, which run on gas-powered internal combustion engines, electric vehicles are powered by rechargeable lithium-ion batteries. At the moment, the U.S. Department of Energy has registered around 40,000 public charging stations to cater to the 1.6 million EVs on American roads. President Joe Biden has set an ambitious target to roll out 500,000 public EV charging stations by 2030, and as EVs start seeing widespread adoption, the demand for public charging stations will be at an all-time high.

There are around 150,000 gas stations in America, and for years, decades really, more than 80% have had convenience stores on-site to sell to drivers who stop to refuel. However, conventional gas-powered cars take just a few minutes to fuel, meaning drivers have, on average, two to three minutes to shop. Electric vehicles, on the other hand, can take a while to charge, with even the fastest DC chargers taking up to 20 minutes.

This results in an increased amount of time drivers spend on nonfueling-related activities, referred to as dwell time. According to ChargePoint, a company that supplies EV charge ports, EV drivers may have dwell times of up to 50 minutes. Since public EV chargers are relatively harmless compared to gas stations, they can be located nearly anywhere, with shopping malls, hotels and even grocery stores installing EV chargers on their premises.

Even though drivers usually spend just a couple of minutes on site, the overall convenience store sector in America generated $648.8 billion in sales in 2019. With up to 50 minutes in dwell time, how much would public EV chargers with onsite convenience stores bring in? The numbers will definitely be low as EV technology is relatively new and quite expensive, but as these vehicles become more mainstream and affordable, they will undoubtedly pick up.

According to Jacob Schram, a senior advisor at McKinsey, the growing EV industry doesn’t spell doom for gas stations. Even though they will lose plenty of fuel volume, adding EV chargers and products that cater to EV drivers will keep them in the game. And needless to say, those in the commercial real estate segment can make a killing by availing space for constructing charging stations of the future.

Eco-friendly travel is offering lots of other opportunities, and that could explain why Clean Power Capital Corp. (CSE: MOVE) (FWB: 2K6A) (OTC: MOTNF) has opted not only to invest but also be an active operator within the renewable energy sector through its push to establish thousands of hydrogen fuel cell stations in locations having gas stations.

NOTE TO INVESTORS: The latest news and updates relating to Clean Power Capital Corp. (CSE: MOVE) (FWB: 2K6A) (OTC: MOTNF) are available in the company’s newsroom at https://ibn.fm/MOTNF

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