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03/23/2021


3 WAYS QSRS WILL BENEFIT FROM ULTRAFAST EV CHARGING STATIONS

Widespread adoption of EVs and the next generation of ultrafast EV charging
stations promise to generate revenue for QSRs and align their brands with energy
efficiency and environmental stewardship.
Arcady Sosinov, Founder and CEO, FreeWire Technologies
Image



As QSRs know, the convenience factor plays an important role in consumer
adoption. Just as with food, convenience will play a critical role in EV
adoption and associated charging services. QSRs can leverage their expertise to
address this next megatrend in mobility.

Demand for EVs is growing at an exponential rate. By 2030, the International
Energy Agency projects there will be 130 million EVs on American roads, almost
half as many total vehicles as are currently registered in the country. In
addition to reducing America’s dependence on foreign oil, the switch to EVs will
mitigate greenhouse gas emissions, a crucial part of the fight against climate
change and extreme weather.

This revolution in transport is an essential investment in our future, but it
won’t be simple, unless we rethink the status quo. The coming switch to EVs will
require a massive transition of the energy we use to get around. While changes
on this scale inevitably produce winners and losers, QSRs stand to reap
substantial benefits. Widespread adoption of EVs and the next generation of
ultrafast EV charging stations promise to generate revenue for QSRs and align
their brands with energy efficiency and environmental stewardship.

Powering tens of millions of EVs will require chargers to become as accessible
as gas stations are now. And to make EVs appealing on a mass scale, drivers must
be able to power up in minutes, comparable to what they currently need to fill
up their tank.

However, until recently ultrafast EV charging stations, which can provide 100
miles on 10 minutes of charge, typically demand expensive and time-consuming
upgrades to the electrical grid. Plus, installing them can require the
involvement of utility companies and local governments, adding layers of red
tape and cost.

The next generation of battery-integrated charging stations provide a solution.
Innovations in energy storage and boosting technology enable ultrafast EV
charging stations to connect to existing power infrastructure. Instead of
spending months and potentially hundreds of thousands of dollars on grid
upgrades, ultrafast battery-integrated chargers can be installed and operational
within hours.

The rollout of this new technology, which has begun in the U.S. and Europe,
allows QSRs to provide a premium service to their customers while increasing
store revenue. The business model for slow (Level 2) EV charging -- which can
take four to six hours to fully charge a car -- has been established at offices
and malls, but it doesn’t translate to QSRs where 30 minutes is a lingering
visit. Battery-integrated ultrafast EV charging stations, such as the Boost
Charger, developed by our company FreeWire Technologies, empower QSRs to offer
this amenity.      

The benefits for QSRs include:

New revenue streams and cost reduction

QSRs will be able to own and operate chargers on their property, adding an
additional revenue stream at minimal cost. Site hosts have the option of
offering free charging to increase traffic, or collect additional revenue on the
charging service. When combined with energy storage technology, charging
stations can also reduce your restaurant’s energy costs by mitigating demand
charges, which is a major concern when installing ultrafast EV charging stations
that pull power directly from the grid. Drivers no longer need to take that
added trip to the gas station, and can now rely on restaurants to have a tasty
meal and power their cars in one stop.

Customer acquisition and brand loyalty

EV charging creates another reason for customers to visit your restaurant. EV
drivers are already used to searching for charging stations on their GPS. As
QSRs add chargers, they’ll appear on the national charging network and map
applications, directing drivers to your restaurant at no cost to you. What’s
more, EV drivers make for desirable customers since they have twice the average
national income.

QSRs will be able to brand their own charging stations, and encourage return
visits with loyalty programs on both car charging and menu items. While drivers
power up, screens on the chargers can tempt them with special food promotions
available inside. In Sweden, dozens of McDonald’s restaurants have added
charging stations. They perform double duty, drawing in new consumers and
associating the brand with clean energy.

Meeting environmental sustainability goals

On top of the revenue benefits, offering ultrafast EV chargers can help with
reaching corporate environmental goals and establishing your brand as a
sustainability leader. For example, the city of Tulsa, Oklahoma has installed
FreeWire’s Boost Chargers at Gathering Place park, and other popular attractions
as part of its bid to promote itself as an innovation hub. The entire state,
once synonymous with the fossil fuel industry, has emerged as a leader in EV
charging.

In addition to the convenience of powering themselves and their car in one stop,
EV drivers will come to associate a visit to your restaurant with reducing their
carbon emissions. That way, a QSR visit becomes something everyone can feel good
about.

With EV adoption and support services growing rapidly, now is the time for QSRs
to implement EV charging, and establish their brands as responsible and
proactive leaders in the charging market.

 

ABOUT THE AUTHOR

Arcady Sosinov is Founder and CEO of FreeWire Technologies. Prior to FreeWire,
he spent almost a decade in finance and investment management. Arcady holds an
MBA from UC Berkeley and an economics degree from Boston University.


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