Commentary by Jonuel Perez, research analyst, ESG & impact investing

TravelCenters of America's partnership with Electrify America to build 1,000 electric-vehicle fast charging stations across U.S. roads could bolster the full-services company's business-model and innovation standing. For TravelCenters, the deal will add EV charging infrastructure at 200 of its 281 travel centers over the next five years, an important step forward for EV infrastructure in the U.S. Meanwhile, the project is expected to increase Electrify America's existing capacity by 25% to 1,000 total stations across the U.S. and move the company closer to its goal of 1,800 stations by 2026. The total number of electric charging stations in the U.S. is estimated to be around 50,000, according to the National Renewable Energy Lab, compared to 145,000 gasoline stations as reported by the National Association of Convenience Stores. As EV sales continue to make up an increasing share of total car sales and the U.S. government continues to incentivize zero-emission vehicles, fuel retailers have become more willing to invest in EV infrastructure. Last year, General Motors unveiled a similar partnership with Pilot Plan to build 2,000 fast-charging stalls by 2025.

Write to Jonuel Perez at jonuel.perez@wsj.com

ESG Insights are written by The Wall Street Journal's ESG research analysts, whose commentary is independent of the news coverage by reporters at the Journal.

(END) Dow Jones Newswires

January 31, 2023 10:57 ET (15:57 GMT)

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