Electric vehicles have been receiving a considerable amount of attention lately. Tesla’s stock price has risen seven-fold in the last year. President Biden has made electric vehicles and charging systems major components of his infrastructure plan. Car companies and individual states are competing to see who can make the most audacious claim about when we will get to 100% electric vehicles (EVs) in production and on the road. So, what does this mean for our industry?

If we look at the news, the future of internal combustion engines, and therefore the future of gas stations, appears to be dire. By all accounts, there is some cause for concern. However, if we look at the numbers, we see that there are only about 1.4 million EVs in the US, which is only about 0.5% of all cars on the road. This would not seem to be cause for much alarm in itself.

How do we reconcile these opposing viewpoints? How concerned should we be right now, and what can we do about it? As an industry, we need some sober and thoughtful analysis of all the factors that will contribute to EV adoption in the coming years. It is essential to distinguish the real trends from the attention-grabbing headlines and fluff pieces put out by car companies trying to pump up their stock price.

C-Store Investments has been researching this topic at great lengths over the past several months. On May 5th, 2021 we will be discussing our findings via a Zoom presentation. You are invited to join us as we review the basics of the EV industry, address the challenges that EVs face in adoption, discuss how quickly EV’s could hit critical mass in our market. We will also offer recommendations on how gas station/convenience store operators can mitigate the impact of EVs on their operations. Don’t get left behind!

Watch out for more details in the coming weeks. In the meantime, save May 5th for this important discussion about the future of our industry.

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