EV+ Partners with CBRE to Expand EV Charging Network

Rhea-AI Summary

EV+, a provider of electric vehicle (EV) charging infrastructure, has partnered with CBRE to install charging stations at 10,000 U.S. commercial properties over the next five years. The focus is on multifamily complexes, hotels, and healthcare facilities. These turnkey charging solutions require no ongoing responsibilities from property owners, enhancing convenience for EV drivers. CBRE will assist with site acquisition, grant and incentives work, project management, and ongoing maintenance. This collaboration aims to drive EV adoption and offer property owners a valuable amenity.

Positive

• EV+ and CBRE partnership aims to install EV charging stations at 10,000 commercial properties, expanding reach significantly.
• Focus on underserved locations like multifamily complexes, hotels, and healthcare facilities could drive higher EV adoption.
• Turnkey solutions with no ongoing responsibilities for property owners lower barriers to installation.
• CBRE's role in site acquisition, grants, project management, and maintenance ensures a comprehensive support system.
• Potential to turn EV charging into a desirable amenity for property owners, attracting more tenants and guests.

Negative

• The ambitious goal of 10,000 installations over five years may face execution risks or delays.
• No specific financial data or revenue projections provided, leaving uncertainty about the partnership's financial impact.
• Dependence on government grants and incentives could introduce financial variability and risks if subsidies change.

News Market Reaction – CBRE

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-0.23% News Effect

On the day this news was published, CBRE declined 0.23%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Companies are focused on properties where electric vehicle drivers most often want to charge: multifamily complexes, hotels, hospitals and healthcare-related facilities

DALLAS, May 16, 2024 /PRNewswire/ -- EV+, a provider of on-site, electric vehicle charging infrastructure solutions, today announced a preferred partner agreement with CBRE to deploy electric vehicle charging systems at 10,000 U.S. commercial properties over the next five years.

The companies are focused on EV-enabling real estate where drivers most need charging stations --multifamily complexes, hotels and healthcare-related facilities, all of which have been critically underserved to date. Turnkey EV+ charging stations will be installed ready to operate, with no ongoing responsibilities for property owners.

"Of primary concern to EV drivers these days is convenient access to reliable charging stations at locations where they spend time – and this partnership is focused on filling that need," said Jim Hurless, Global Head of Real Estate for CBRE EV Solutions. "Expanding the charging network with EV+ in this manner will help to spur more EV adoption as well as provide property owners with a coveted amenity to serve their customers."

EV+ offers property owners end-to-end charging infrastructure solutions, complete with an integrated hardware, software and networking system designed for durability and ease of use. The company aims to simplify EV charging for property owners, helping them to achieve their sustainability goals and offer an increasingly important service amenity for minimal effort.

CBRE, a global commercial real estate services company, will provide EV+ with site acquisition, grant and incentives work, project management, installation and ongoing operation and maintenance of the charging stations.
"Partnering with CBRE enables us to significantly expand our reach and impact in essential real estate markets," EV+ Chief Executive, Joe Schottland said. "Our goal is to establish electric vehicle charging capacity where it is most required and desired – properties where drivers spend considerable time, such as apartments, hotels and healthcare facilities. This alignment with CBRE enhances our ability to deliver convenient, efficient, durable EV charging solutions on a national scale."

For business inquiries, please contact sales@ev-plus.com or Jim Hurless at jim.hurless@cbre.com

About EV+
EV+ was built by experts in the commercial real estate, infrastructure, and transportation industries, bringing together over 50 years of combined experience. That expertise comes together to create a unique, outsourced solution set that relieves property owners of the burden of EV-enablement and accelerates the migration to an electrified future. The EV+ mission is to simplify the delivery of profitable charging solutions for owners and developers, and ensure their tenants and guests have dependable and enjoyable charging experiences.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world's largest commercial real estate services and investment firm (based on 2023 revenue). The company has more than 130,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

Media Contacts:
Joe Schottland
EV+
+1 424 389 3078
joe@ev-plus.com

Kris Hudson
CBRE
+1 214 863 3650
kris.hudson@cbre.com 

View original content to download multimedia:https://www.prnewswire.com/news-releases/ev-partners-with-cbre-to-expand-ev-charging-network-302147013.html

SOURCE EV+

FAQ

What is the focus of the EV+ and CBRE partnership announced on May 16, 2024?

The focus is on installing EV charging stations at 10,000 U.S. commercial properties, targeting multifamily complexes, hotels, and healthcare facilities.

How will the EV+ and CBRE partnership benefit property owners?

Property owners will benefit from turnkey EV charging solutions that require no ongoing responsibilities, providing a valuable amenity to attract tenants and guests.

What role will CBRE play in the EV+ partnership?

CBRE will handle site acquisition, grant and incentives work, project management, installation, and ongoing maintenance of the EV charging stations.

Why are multifamily complexes, hotels, and healthcare facilities the focus of the EV+ and CBRE partnership?

These locations are critically underserved by EV charging infrastructure, and the partnership aims to provide convenient access where drivers spend considerable time.

What is the goal of the EV+ and CBRE partnership in terms of EV adoption?

The partnership aims to spur greater EV adoption by expanding the availability of charging stations and making EV charging more convenient.