New York To Replace 100 Parking Spots With Curbside Electric Vehicle Charging Stations

In a move to complement growing electric vehicle sales, New York City announced Thursday that it will remove 100 parking spots to replace with the city’s first-ever curbside electric vehicle charging ports. The city officials said the installation of the charging stations have started, and are expected to be completed by October.

The city’s Department of Transportation said in a press release that the October installation is part of a four-year demonstration to boost the electrification of vehicles, all in part of the city’s goal to achieve carbon neutrality by 2050.

According to reports, the public charging ports will cost motorists US$2.50 per charging hour during the day and US$1.00 per hour overnight. The charging stations are funded by a New York State Public Service Commission grant and will be managed by Quebec-based operator FLO under a contract with Consolidated Edison.

The Big Apple currently has 15,000 registered electric vehicles and approximately 1,500 charging stations, 117 of which provide 80% charge in under an hour while 1,400 provide 80% charge in 4 to 8 hours. The planned curbside charging stations will be similar to the latter type.

The city’s transportation agency also plans to add another 20 curbside charging stations to service the city’s electric vehicle fleet.

Information for this briefing was found via the New York Post. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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