EV Adoption 'Needs to Be Ubiquitous,' Says Volta Interim CEO
The world is “waking up to the inevitability” of electric vehicles, said Vince Cubbage, interim CEO of EV charging company Volta, on a Q2 earnings call Thursday. That Volta is building a digital advertising platform into its network of chargers…
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enables it to scale revenue “ahead of the EV adoption curve,” he said. Volta has master service agreements with seven of the 10 largest U.S. commercial property owners, “allowing us to install our chargers on their properties” under long-term deals, said Cubbage. There’s “a tremendous amount of capital that has been earmarked” under the Infrastructure Investment and Jobs Act for the nationwide buildout of EV chargers, he said. “The allocation of that capital is still being determined.” It’s being directed at enabling long, cross-country trips, as well as toward making sure that “nobody is left behind in terms of the ability to adopt EV,” he said. "For EV adoption to roll out the way everyone expects it to and the way policymakers want it to, it needs to be ubiquitous. It needs to be available in the coastal high-income communities. It needs to be available in the inner cities. It needs to be available everywhere."