Walmart Steams Ahead with Electric Vehicle Charging Expansion

Walmart's rapid expansion of its parking lot network has left rivals like Costco in the dust, but it's not just about convenience. The retail giant is also building a massive electric vehicle charging business.

The company has been hosting third-party chargers since 2018, including Electrify America, but it's now investing heavily in its own branded network. In Bentonville, Arkansas, four high-speed charging stations have opened since the start of the year, with three located near Walmart's headquarters and one at the local airport.

Despite being late to the game compared to competitors like Target, Home Depot, and Lowe's, which already have hundreds of high-speed charging stations across their stores, Walmart is making rapid progress. In fact, it's 'steamrolling' into the market, according to Bill Ferro, cofounder of Paren, a charging consultancy.

Shiri Levi-Laor, who runs the charging consultancy Driivz Inc., predicts that by 2030, big-box retailers like Walmart will host one in every five fast-charging stations across the country. She says that stores with EV chargers nearby tend to see a 5 percent bump in foot traffic sales.