Gilbarco has been a world-leading manufacturer of fueling and convenience store equipment for over a century. The company has a strong global presence and its movements in the market are closely followed by all to gauge the direction and future of the fuel retail industry.
Recently, the company announced that it has made a minority investment in Tritium, a privately held electric vehicle (EV) charger manufacturer.
This news has created waves in the industry, with experts believing that it could mark a new dawn for the so far subdued EV market.
EVs currently make 1% of the U.S. vehicle fleet. And although their sales have significantly increased over the last five years, they still have a long way to go before they can be talked about in the same bracket as their fuel-hogging brothers in terms of popularity.
With such a low adoption rate among consumers, fuel retailers have also mostly avoided offering EV charging services at their gas stations; they find the move unlucrative currently.
However, with Gilbarco investing in Tritium, things are likely to get interesting.
Martin Gafinowitz, Senior Vice President of Fortive, reportedly commented on the company’s new investment venture as follows:
“Our partnership with Tritium is the logical next step in our long history of evolving the Gilbarco business portfolio to address progressive customer needs…”
As part of the partnership agreement, Gilbarco will be selling all Tritium solutions, including the Veefil-PK high power charging system. More details about the venture can be found on Gilbarco’s official website.
Since the John W. Kennedy Company has long been a trusted distributor of Gilbarco in the region, we’ve been closely following this development.
Just to make it clear: No, we have no immediate plans to sell EV chargers at our company.
However, due to the way things have unfolded in the last couple of months, the product definitely interests us, and we may look towards introducing it in our product range in the future. After all, when Gilbarco makes a move, you should take note and follow suit.
At the moment, we believe it’s too early. We want to wait and see Gilbarco’s next move in the EV market before making a decision: Does it invest further in the sector, maintain and retain its involvement, or withdraw it in the coming months?
John W. Kennedy petroleum equipment supply company is your one-stop shop for gas station equipment and supplies. We sell gas station breakaways, nozzle swivels, pipe fittings, service station hardware, shop management systems, caps, adaptors, and everything else you need to keep your gas station running smooth, safe, and efficient. Visit our online store to view our complete product catalog.