Ford Pro And Xcel Energy Collaborate To Support Installation Of 30,000 EV Charging Ports For Business Fleets By 2030
Portfolio Pulse from Benzinga Newsdesk
Ford Pro, the commercial division of Ford Motor Company, and Xcel Energy have announced a collaboration to install 30,000 EV charging ports by 2030 for business fleets across Xcel Energy's service territories in the U.S. The initiative, named 30x30, is part of Xcel Energy's broader Electric Vehicle Supply Infrastructure (EVSI) program and aims to simplify and reduce the cost of charging infrastructure for businesses. Ford Pro will provide charging equipment and customer support, while Xcel Energy will offset most upfront costs for qualifying businesses. The program will start in Colorado and Wisconsin in 2024, with plans to expand to other states. The collaboration also includes analyzing telematics data to promote off-peak charging, reducing grid emissions and saving money for customers.
December 05, 2023 | 1:12 pm
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Ford Pro collaborates with Xcel Energy to install 30,000 EV charging ports, providing charging equipment and customer support to facilitate business fleet electrification.
The collaboration with Xcel Energy positions Ford Pro as a key player in the EV infrastructure space, potentially increasing demand for Ford's commercial EVs and charging solutions. This strategic move is likely to be viewed positively by investors, as it aligns with the growing trend towards electrification and could lead to increased revenue streams from the sale of EVs and charging equipment.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Xcel Energy partners with Ford Pro to support the installation of 30,000 EV charging ports, offsetting most upfront costs for qualifying business fleet customers.
Xcel Energy's collaboration with Ford Pro enhances its position in the clean energy sector and demonstrates its commitment to supporting EV infrastructure. This initiative may lead to increased customer engagement and satisfaction, as well as potential regulatory support. The news is likely to be seen as a positive development for Xcel Energy by investors, reflecting the company's proactive approach to the growing demand for EV charging solutions.
CONFIDENCE 85
IMPORTANCE 65
RELEVANCE 80