By Lew Blaustein, GreenSportsBlog
Volta Charging is pioneering free electric vehicle (EV) charging in the U.S. Their business model is to sell video advertising atop charging stations to brands that want to reach high value audiences in high foot-traffic locations. Sports venues, not surprisingly, figure prominently in the San Francisco-based startup’s growth strategy. GreenSportsBlog spoke with Ted Fagenson, Volta Charging’s senior vice president of business development, to gain a deeper understanding of the company’s plans for the sports sector.
For Ted Fagenson, the beauty of Volta Charging’s business model is found in its simplicity.
“We make charging simple for EV drivers and host venues,” said the telecom and EV business veteran who now serves as the startup’s VP of business development. “Drivers don’t need to carry a card with an RFID chip. They just pull up, park, plug in and go. It’s convenient and it’s free, for both drivers and hosts! That’s all there is to it.”
Getting to this level of simplicity required Volta to do something that’s far from, well, simple: Disrupt the still-emerging public EV charging market.
“Right now, public EV charging companies mainly operate under one of two business models, neither of which are sustainable,” shared Fagenson. “One is to sell the charging stations to parking lot owners, shopping mall managers, retail establishments, sports venues, etc. The drivers then pay the host venues. But do those folks really want to own charging stations? No! Model two is to install the charging stations for free, charge the driver for the electricity and then split the revenue with the host venue. That’s too complicated for all concerned and in the long run, unprofitable.”
It’s not only too complicated; it’s also too costly for the driver.