This oil giant and Hertz are building a massive fast-charging network for EV rentals starting at LAX
Bp Pulse, the global oil leader’s charging infrastructure unit, is teaming up with Hertz to build a network of EV fast chargers in high-demand locations such as airports. The project aims to accelerate EV adoption by providing charging solutions where they are most needed.
In September, Hertz and Bp signed a memorandum of understanding (MOU) to develop a national EV charging network. The plans include using Bp Pulse, the oil giant’s EV charging division, to lead the rollout.
Through the partnership, Bp Pulse manages Hertz EV charging infrastructure, providing its Omega software to show real-time data such as power usage, pricing, and more.
Having charging solutions makes sense, with Hertz quickly expanding its zero-emission EV fleet. It started with a 100,000 Tesla Model 3 order last year while later adding Model Y options.
In April, the car rental company said it would introduce 65,000 Polestar EVs to its fleet over the next five years. And more recently, Hertz placed a massive order for 175,000 GM electric cars. Through these initiatives, Hertz has tens of thousands of EVs across 38 US states.
Perhaps more important is where these drivers are headed. In most instances, when renting a car, you drop it off at or close to the airport.
BP Pulse and Hertz expand EV charging initiative
The first planned site of the partnership is at a Hertz location near Los Angeles International Airport (LAX), serving as a hub primarily for ride-hail and taxi fleets.
A $2 million grant from the California Energy Commission (CEC) will partially fund the project near LAX, with Bp Pulse in charge of installation and infrastructure management.
The development of the new EV charging hub is designed to accelerate the adoption of electric vehicles while providing the necessary infrastructure to ease the transition.
Jeff Nieman, SVP of operations initiatives at Hertz, says:
Our aim is to provide Hertz customers with access to a national network of chargers that makes the experience of renting an electric vehicle convenient and seamless. Rideshare drivers are essential to the mobility landscape and more than 25,000 Uber drivers have rented EVs through Hertz to date. We are thrilled to partner with bp pulse to offer this charging hub to those drivers at one of Hertz’s great sites near LAX. And it’s just the beginning.
Although no specifics are stated, the new project aims to “mitigate the environmental impact” of the significant ride-sharing growth in LA’s transportation. Electric ride-sharers are some of the most frequent users of EV chargers.
According to Patty Monohan, lead California energy commissioner for Transportation:
Vehicles employed by California’s ride-hailing fleets make up 2.5 percent of the vehicle population, but consume 30 percent of all public fast charging. The California Energy Commission is proud to support projects like the Gigahub network by bp pulse, near LAX in partnership with Hertz, two transportation powerhouses who are working together to help electrify ride-hailing and rental fleets and cut pollution in communities.
Bp aims to roll out 100,000 EV chargers by the decade’s end through its BP Pulse division.
Electrek’s Take
It’s interesting that a global oil giant like Bp is leading an initiative to install fast chargers to accelerate EV adoption since the very same innovation looks to destroy the company’s industry.
At the same time, installing fast chargers near airports and other high-demand areas makes sense. Several new initiatives are already accelerating demand for zero-emission EVs, and it’s only forecasted to pick up from here.
Does Bp see the writing on the wall that electric vehicles are the future? Earlier this year, Bp claimed that EV charging stations are closing in on gas pumps in terms of profitability.
The oil company is investing heavily in EV charging through BP Pulse, working with several companies like Volkswagen and Tritium to deploy infrastructure.
I think it’s telling to see Bp, a top-ten global oil company, progressively digging deeper into EV charging, the same advancement created to stop the use of fossil fuels and the air pollution associated with them.
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Locals call him the “Bicycle hero,” but Texas man Evan Wayne says he’s just doing what he can to help his community after it was cut off due to the recent devastating and deadly flooding tragedy.
When the local Sandy Creek flooded following torrential rains in Texas, it destroyed the only bridge into one community. Residents were cut off from access to supplies, including everything from necessities like food, water, and medicine to basic comforts.
Although the bridge was impassable to cars, volunteers who quickly organized to help the stranded residents found that the damaged bridge could still be traversed on foot. Or in the case of Evan Wayne, it could be covered by an electric bike.
Evan joined hundreds of volunteers who answered the call of grassroots organizers by working together without any official capacity. While many started by hand-pulling garden carts of supplies uphill to reach the stricken community, Evan jury-rigged a trailer to an e-bike and took on as much of the load as he could, helping shuttle much-needed food and gear into the community over hundreds of round-trip journeys.
“This was a dog trailer 48 hours ago. I had a hacksaw, hacked the top off, grabbed some bungee cords, and here we are,” explained Evan in an interview with CBS Austin, while waiting for the next load of gear to be stacked on his trailer.
In the first two days of the operation, he made around 100 round trips each day, shuttling food and water as well as critical rescue supplies. “Right now, I’m waiting on a couple of chainsaws that I’ll bring in for a crew that’s been going at it with handsaws so far.”
In addition to delivering needed supplies, Evan has often found himself moving something even more important: information. “I’ve flagged down medics. I’ve been the guy that goes between Austin EMT and STAR Flight because I’m quicker than cell phones sometimes, people don’t have signal a lot of the time.”
Evan quickly points out that he isn’t the only one helping. “I’ve got an e-bike, but other people are pulling carts. People are walking, people are carrying things. Everyone is doing what they can.” But there’s no doubt that his ability to carry more gear at higher speeds and make hundreds of round-trip journeys so far in and out of the stricken neighborhood has helped impact countless lives.
“This is all volunteers here. They’re just taking it upon themselves to get people where they need to go. I think there’s an umbrella company coming in, taking over tomorrow, but until they get here, people are just taking care of people, which is what you’ve got to do.”
E-bikes proving their worth in emergencies
While many people consider electric bicycles just another form of recreation, they’ve proven to be potent transportation alternatives after natural disasters worldwide.
Not only do their small and efficient batteries make performing hundreds of rescue trips like Evans’ possible, but recharging can be done simply and easily with a solar panel when electricity is out after a disaster. And when gas stations are out of fuel (or simply can’t pump it with the power grid down), e-bikes can keep running while gasoline-powered motorcycles or ATVs run dry.
Electric bicycle batteries have also proven to be a handy source of emergency power after hurricanes and other disasters, often helping owners keep their phones charged up for days to remain in contact with family or rescue services.
While most hope to never need theirs for emergency purposes, electric bicycles have proven their worth in countless disaster scenarios, adding benefits far beyond just alternative transportation, recreation, or fitness riding.
Image credits: CBS Austin (screenshots), used under fair use
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Twitter CEO Jack Dorsey testifies during a remote video hearing held by subcommittees of the U.S. House of Representatives Energy and Commerce Committee on “Social Media’s Role in Promoting Extremism and Misinformation” in Washington, U.S., March 25, 2021.
Handout | Via Reuters
Block jumped more than 5% on Monday, leading a rally in shares of fintech companies as analysts downplayed the threat of JPMorgan Chase’s reported plan to charge data aggregators for access to customer financial information.
The recovery followed steep declines on Friday, after Bloomberg reported that JPMorgan had circulated pricing sheets outlining potential fees for aggregators like Plaid and Yodlee, which connect fintech platforms to users’ bank data.
In a note to clients on Monday, Evercore ISI analysts said the potential new expenses were “far from a ‘business model-breaking’ cost increase.”
In addition to Block’s rise, PayPal climbed 3.5% on Monday after sliding Friday. Robinhood and Shift4 recorded modest gains.
Broader market momentum helped fuel some of the rebound. The Nasdaq closed at a record, and crypto rallied, with bitcoin climbing past $123,000. Ether, solana, and other altcoins also gained.
Evercore ISI’s analysts said that even if JPMorgan’s changes were implemented, the most immediate effect would be a slight bump in the cost of one-time account setups — perhaps 50 to 60 cents.
Morgan Stanley echoed that view, writing that any impact would be “negligible,” especially for large fintechs that rely more on debit, credit, or stored balances than bank account pulls for transactions.
PayPal doesn’t anticipate much short-term impact, according to a person with knowledge of the issue. The person, who asked not to be named in order to speak about private financial matters, noted that PayPal relies on aggregators primarily for account verification and already has long-term pricing contracts in place.
While smaller fintechs that depend heavily on automated clearing house (ACH) rails or Open Banking frameworks for onboarding and compliance may face real pressure if the fees take effect, analysts said the larger platforms are largely insulated.
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