Chase to Add EV Chargers at 50 Branches

The charging stations are coming to six states, and all should be ready for use by summer 2023.

April 08, 2022

Chase with EV Chargers Site Selection

NEW YORK—Chase will bring public fast electric vehicle charging stations to 50 of its U.S. branches beginning this summer, according to a news release. The bank is also expanding its on-site solar power initiative to about 400 additional bank branches by the end of the year.

Chase is partnering with EVgo for the chargers, and each location will have between two and six DC fast chargers, with most having four. Fast chargers will be installed at select Chase branch locations in California, Indiana, Illinois, New York, Oregon and Pennsylvania, offering 100kW and 350kW chargers. The bank expects to have all stations available for use by the summer of 2023.

“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,” said Cathy Zoi, CEO of EVgo, in the release.

Becky Griffin, chief administrative officer of consumer banking at JPMorgan Chase, told CNBC that the company will look at the usage rates of the chargers to see if the program should be expanded to additional branches.

The bank is also expanding its solar power after having added solar installations at over 350 branches in Arizona, California, Michigan and Nevada, with additional projects underway in Colorado, Florida, Indiana, Illinois, Louisiana, New York and Ohio. Chase’s goal is to complete solar installations at about 400 additional branches plus 125 carports (solar panels installed above parking lots) by the end of 2022.

Last month, Starbucks and Volvo Cars announced a partnership to establish a public electric-vehicle charging network at 15 U.S. Starbucks locations beginning this summer. Installations are expected to be finished by the end of this year.

This week, senior officials from the Biden Administration and major automotive leaders met to discuss EVs and charging, with all agreeing that EV charging stations and electric vehicles need to be interoperable and provide a seamless user experience, according to a statement.

In February, the Biden Administration released its plan to fund electric vehicle charging infrastructure, focusing on interstate highways first, and then rural areas. The plan says that states must install an EV charger every 50 miles, and they must be located no more than one mile off of high-use corridors, mostly interstates.

According to a recent Fuels Institute study, public funding may be responsible for up to 26% of the difference in charging infrastructure between markets with and without such funding.

After the administration released the plan, claims surrounding a hypothetical scenario in which all U.S. gas stations would be replaced with equal capacity EV charging stations spread on social media. Here are EV charging myths debunked.

Meanwhile, Indiana plans to invest $100 million over the next five years on infrastructure for EV charging stations, reports WANE.

The Convenience Matters podcast, “Where Do EVs Make the Most Sense?” examines the findings from a Fuels Institute study looking at life-cycle emissions for EVs and fuel-powered vehicles. NACS also has a topics page on electric vehicles.