Building off a relationship that began years ago, Bank of America and Electrify America have announced that the former will double its number of financial centers equipped with EV charging stations by the end of 2023.
Electrify America (EA) currently operates one of the largest DC fast charging networks in the United States, consisting of roughly 800 charging stations, housing about 3,500 individual EV chargers that offer speeds between 150 and 350 kW.
With that said, EA has shared plans to expand its charging network in North America by 2026, growing to roughly 10,000 chargers across 1,800 different stations.
Bank of America is, well, the name sort of says it all, doesn’t it? In reality and despite its name, BofA is a multinational investment bank with over 4,600 financial centers in operation. In late 2019, Bank of America announced it would be implementing EV chargers from Electrify America at its retail locations.
This marked Electrify America’s first collaboration with a financial institution. Since then, we’ve seen similar agreements between dual competitors EVgo and Chase Bank. However, Electrify America already has a larger charging footprint at Bank of America locations and now looks to expand it.
Bank of America to double Electrify America chargers by 2023
Electrify America shared Bank of America’s plans for EV charging expansion in a press release today, complete with quotes from both companies. Senior Director of Operations at Electrify America Anthony Lambkin said:
Electrify America is expediting the electric future by providing ultra-fast charging to customers in convenient locations. Collaborating with companies such as Bank of America – who share our goals for a more sustainable future – helps to accelerate the transition to electric transportation and meet customers’ needs.
Currently, Electrify America operates 192 EV chargers across 51 Bank of America financial centers in the US, including the following states: California, Florida, Georgia, Illinois, Maryland, Massachusetts, New Jersey, Oregon, Virginia, and Washington.
Bank of America looks to nearly double the amount of chargers it had at the beginning of 2022 (172 chargers across 46 locations). This planned expansion will reach 350 EV chargers across 90 locations by the end of 2023.
This will also include EA charging infrastructure at additional BofA locations in new states such as Colorado, Connecticut, Indiana, North Carolina, New York, Oklahoma, and Texas. Aron Levine, president of preferred banking at Bank of America said:
At Bank of America, our commitment to a more sustainable future is woven into our culture and the many ways we serve our clients and communities. Through our collaboration with Electrify America, we’re making life easier for the communities we serve and are helping lead toward a more sustainable future.
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