XCharge’s Level-3 Chargers and Expedited Installation Comprehensively Address Airport Rental Location Challenges

Rhea-AI Summary

XCharge (NASDAQ: XCH) has announced a strategic collaboration with a major rental car company to enhance EV charging infrastructure at US airport rental facilities. The company has completed charging station installations at several major East Coast airports and secured additional projects along the eastern seaboard.

The collaboration addresses unique challenges faced by airport rental locations, including footprint and utility grid constraints. XCharge's Level-3 charging stations offer significant advantages over commonly used Level-2 solutions, with their initial airport project demonstrating more than tenfold improvement in charging speed through simultaneous charging technology.

According to Aatish Patel, President of XCharge, the company aims to provide comprehensive solutions beyond hardware, focusing on site design, operational efficiency, and EV charging education. The initiative aligns with XCharge's strategy to expand its presence in high-traffic locations, addressing charging anxiety among EV drivers while broadening its customer base.

XCharge’s Level-3 Chargers and Expedited Installation Comprehensively Address Airport Rental Location Challenges

HAMBURG, Germany, Jan. 24, 2025 (GLOBE NEWSWIRE) -- In a release issued on January 21, 2025 by XCHG Limited (NASDAQ: XCHG), please note that an incorrect version of the release was distributed. The corrected release follows:

XCHG Limited (“XCharge” or the “Company”), (NASDAQ: XCH), a global leader in integrated EV charging solutions, today announced a collaboration with a leader in the rental car space to upgrade its EV charging offerings at US airport rental facilities. XCharge has completed charging station construction at the rental company's sites in several major East Coast airports and has secured a pipeline of future projects at the rental company's additional airport locations along the eastern seaboard.

XCharge’s high-speed chargers and efficient installation process have rapidly strengthened the rental company's airport charging infrastructure, helping it meet its service standards and goals for expanding its EV rental fleet. Given their relatively small footprint and utility grid constraints, U.S. airport rental car locations face unique challenges in EV adoption. XCharge’s comprehensive solutions are designed to work within these boundaries, offering fast, simple installation without the need for intensive site upgrades, maximizing efficiency and reducing the complexity of construction.

Furthermore, XCharge’s Level-3 charging stations empower shorter charging cycles compared with the Level-2 solutions commonly used in existing airport locations, resolving rental car service bottlenecks and enhancing customer satisfaction. At the Company’s initial airport project for the rental company, XCharge’s simultaneous charging technology significantly reduced the average charging time, improving charging speed by more than tenfold.      

Aatish Patel, President of XCharge, said, “We’re thrilled by the positive outcomes of this collaboration. The results underscore our commitment to being more than just a hardware supplier – we want to resolve our partners’ most pressing concerns as efficiently as possible, whether that is site design, operational efficiency, or even EV charging education. By focusing on the broader needs of those we work with, we have created turnkey solutions that address key challenges effectively. We look forward to expanding this cooperation and bringing our high-quality charging services to more customers nationwide.”

With charging anxiety remaining a top concern for EV drivers, especially first-timers, XCharge will continue to strategically elevate its presence in locations with substantial organic consumer traffic to introduce its convenient, high-speed charging services to a broader audience.

About XCharge

XCharge (NASDAQ: XCH), founded in 2015, is a global leader in integrated EV charging solutions. The company offers comprehensive EV charging solutions, which primarily include DC fast chargers and advanced battery-integrated DC fast chargers as well as their accompanying services. Through the combination of XCharge’s proprietary charging technology, energy storage system technology and accompanying services, the Company enhances EV charging efficiency and unlocks the value of energy storage and management. Committed to providing innovative and efficient EV charging solutions, XCharge is actively working toward establishing a global green future that is critical to long-term growth and development.

Safe harbor statement

This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. All information provided in this press release is as of the date of this press release, and the company does not undertake any duty to update such information, except as required under applicable law.

For investor and media inquiries, please contact:

XCharge

IR Department

Email: ir@xcharge.com

Piacente Financial Communications

Brandi Piacente

Tel: +1-212-481-2050

Jenny Cai

Tel: +86 (10) 6508-0677

Email: XCharge@tpg-ir.com

FAQ

What improvements has XCH's Level-3 charging technology brought to airport rental locations?

XCH's Level-3 charging technology has improved charging speed by more than tenfold compared to existing Level-2 solutions, reducing service bottlenecks and enhancing customer satisfaction at airport rental locations.

Where is XCH implementing its new charging stations in January 2024?

XCH has completed charging station installations at several major East Coast airports and has secured a pipeline of future projects along the eastern seaboard.

How does XCH address utility grid constraints at airport rental locations?

XCH offers fast, simple installation solutions that work within existing utility grid constraints, requiring minimal site upgrades and reducing construction complexity.

What is XCH's strategy for expanding its EV charging network?

XCH is strategically focusing on locations with high organic consumer traffic to introduce its high-speed charging services to a broader audience and address charging anxiety among EV drivers.

How does XCH's charging solution benefit rental car companies?

XCH's solution helps rental companies meet their service standards and EV fleet expansion goals through faster charging times, efficient installation, and comprehensive operational support.