Subway Announces Plans to Pivot Into Democratizing EV Charging with ‘Subway Oasis’
Subway, the global restaurant chain, has announced a partnership with GenZ EV Solutions to create an Electric Vehicle (EV) Charging Oasis at select locations across the United States, the company announced on Tuesday.
The charging parks, called Subway Oasis, will feature charging canopies with multiple ports, Wi-Fi, restrooms, green spaces, and playgrounds, providing a more seamless experience for EV drivers while generating incremental revenue for franchisees.
As part of a multi-year plan to roll it out, smaller-format, fast EV charging stations will be piloted at select new or remodeled restaurants across the US beginning this year. GenZ EV Solutions, which works with RED E Charging, will provide proprietary software and operating expertise for the EV charging stations and Subway Oasis.
With the initiative, Subway aims to offer added convenience for on-the-go guests while contributing to the national network of charging stations. With more drivers shifting to EVs, the company hopes that its partnership with GenZ EV Solutions will help democratize charging infrastructure, providing equitable access to charging for millions of Americans.
“We’re constantly exploring new ways to innovate and exceed our guests’ expectations for a high-quality, convenient experience,” Subway Chief Operating and Insights Officer Mike Kappitt. “Our partnership with GenZ EV Solutions is a win for our guests, our franchisees and our planet, creating a dedicated space for drivers to charge their vehicle while enjoying their favorite Subway sandwich.”
“Equitable access to charging is essential to the adoption of EVs in the future and Subway’s scale will play an important role in democratizing charging infrastructure for millions of Americans,” said GenZ EV Solutions CEO Jose Valls. “By coupling our technology and know-how with Red E Charging’s strategic site selection and Subway’s network of restaurants across the U.S., we are continuing to make key strides in building the EV infrastructure of tomorrow.”
In addition to providing critical infrastructure, Subway believes the initiative will help bring a sustainable solution to market, ultimately improving local neighborhoods across the country. Subway Oasis charging parks will also offer dedicated Subway promotions, available only while utilizing an EV charging station.
Subway for Sale
In January, the restaurant chain announced that it was exploring a sale that could value the privately-held company at more than $10 billion, according to a report by the Wall Street Journal that cited people familiar with the matter.
Subway is owned by its two founding families. The decision to explore a sale comes shortly after Peter Buck, the last surviving founder, passed away in 2021. Co-founder Fred DeLuca, who ran the company for decades, succumbed to leukemia in 2015.
“As a privately held company, we don’t comment on ownership structure and business plans,” Subway said in January when asked to comment on the potential sale. “We continue to be focused on moving the brand forward with our transformational journey to help our franchisees be successful and profitable.”
Information for this briefing was found via Subway, the Wall Street Journal, Business Insider, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
