Impact of Electric Vehicles on Convenience Industry

This report examines the impact of electric vehicles (EVs) on the convenience industry, focusing on innovation opportunities for fuel retailers and business leaders. It outlines the ongoing energy transition from internal combustion engine (ICE) vehicles to EVs, highlighting the importance of technology innovation in this shift. The report discusses findings from a recent PDI Innovation Forum, where key trends, challenges, and opportunities were identified regarding the adoption of EVs. It emphasizes the need for fuel and convenience retailers to adapt their business models to accommodate both EV and ICE drivers in the coming decades. The report also addresses the significant challenges posed by the lack of public charging infrastructure and the necessary investments required for EV adoption. Additionally, it presents survey results indicating that a majority of retailers prioritize preparing for EVs in their business strategies, while also considering consumer demand and total cost of ownership as critical factors. Overall, the report serves as a guide for businesses to navigate the evolving landscape of the convenience industry amidst the growing popularity of EVs.