Following on its successful initiative with EV (electric vehicle) charging facilities in Europe, Montreal-based Alimentation Couche-Tard has announced it plans to offer charging sites at west coast U.S. and Canada locations of Circle K stores, as well as Couche-Tard properties in Quebec. The company announced it will also look at offering home-based EV charging facilities in U.S. and Canadian markets in a move to expand its revenue stream as carbon-based fuels decline in popularity.
“Our goal will be to follow the path we’re on in Norway,”Alimentation Couche-Tard CEO Brian Hannaschin said during a call last week with media. He reports that, together with an electrification partner, they plan to power up hundreds of sites as they move forward. This follows the company’s initiatives in Norway where Couche-Tard started selling home charging units (launched May 2019 and delivered 1,400 units by Q1/21) and launched 450 EV charger installations at more than 80 Circle K sites in the Nordic country, which is well known for its use of electric vehicles.
Couche-Tard has been an early adopter of EV technology for convenience retail. Indeed, this year they revamped an Oslo c-store and fuel station to be 100% EV. They have 150 EV charging sites presently in operation across Europe (200 expected by end of 2020) and view this as a way to counter the drop in demand for gas and diesel that are key to their business success. Currently, 71% of revenue and 46% of profits come from fuel sales.
Couche Tard is among the world’s largest convenience retailers with 14,350 locations in 25 countries.