The battery in the charger has enough storage to dispense power during peak hours without affecting utility costs. It draws and stores energy from the grid in off-peak times such as in the middle of the night and dispenses it at prime time, so it’s more cost efficient, Valls said.
A battery booster also allows for more vehicles to be charged during the day, he said.
GenZ also will leverage expertise from Charge Enterprises, an infrastructure servicer headed by Mark LaNeve, industry veteran with both Ford Motor Co. and General Motors. Charge Enterprises will help GenZ with project design and engineering, construction, installation, maintenance and service.
“Mark brings a lot to the table and I’m very happy we are working together again,” Valls said. He “brings his own automotive perspective to the team; that’s why we have very strong bones between the two companies.”
GenZ’s business plan will focus on dealerships as U.S. automakers transition a significant portion of their product offering from gasoline- to battery-powered vehicles.
Three to five years from now the whole vehicle landscape will change and the dealer mix of EVs might increase from 5 or 10 percent to 50 percent, Valls said.
As dealerships experience a large influx of EVs over the next decade, showrooms will be the first touch point for many consumers shopping the burgeoning market. EV buyers will expect fully charged vehicles in the same way that internal combustion vehicles are delivered with gasoline in their tanks.
Financing is also part of the planned GenZ service package. Charger installation typically requires a large upfront investment, which could present a challenge to some dealers. GenZ will provide financing options to dealers via a partnership with Mitsubishi Capital.
“OEMs already are asking dealers to put fast chargers on their lots,” said Valls. “It’s a requirement to stay in business.
“We are providing a solution to the new reality.”
