Vontier Corporation (NYSE: VNT), a leading global provider of essential technologies and solutions for the mobility ecosystem, has announced an accelerated global rollout of its Konect electric vehicle (EV) charging solution. This innovative offering is designed to help convenience store owners capitalize on the burgeoning demand for EV charging infrastructure. Konect provides a comprehensive, end-to-end solution that encompasses every critical aspect of EV charging, including site selection, grant applications, installation, and ongoing technical support.
New Opportunities for Fuel Retailers
The EV market is experiencing rapid growth, with global EV sales expected to exceed 11 million units in 2024—a 15% increase from the previous year—and projected to double by the end of the decade, according to Bloomberg New Energy Finance (BNEF). This growth presents an enticing investment opportunity for charging solutions and offers fuel retailers a chance to meet evolving customer needs and diversify their services.
Fuel retailers are well-positioned to support EV drivers by offering convenient locations near major routes and desirable amenities, such as fresh food, refreshments, clean restrooms, WiFi, and secure facilities.
Comprehensive, Scalable Solutions
Introduced in May 2024, Konect allows convenience stores to deploy their own EV chargers and future-proof their operations with a new revenue stream that complements existing services. The solution is designed to simplify the deployment process, maximize uptime, and deliver a strong return on investment (ROI). Its scalable nature ensures that fuel retailers can meet the growing demand from EV drivers with a robust, intuitive, and profitable charging infrastructure.
Konect integrates expertise and technology from various Vontier businesses, including Gilbarco Veeder-Root (GVR), a leader in retail and commercial fueling operations; Invenco by GVR, known for its payment and point-of-sale solutions; and Driivz, a leader in EV charging software managing over 100,000 chargers globally for major industry players such as EVgo, Shell, Circle K, Volvo Group, Mer, and Recharge.
Strategically Positioned for Growth
Initially focusing on North America and Europe, Vontier and GVR are exploring opportunities in adjacent markets as interest continues to expand.
No one is better positioned than convenience stores to meet the demand for charging infrastructure, and with our extensive mobility solutions, no one is better positioned than us to be the trusted partner for these companies,” said Mark Morelli, President and CEO of Vontier.
At Konect, our guiding principle is ‘easy, seamless, and profitable.’ We aim to enhance our customers’ bottom line with EV charging solutions, and the response has been overwhelmingly positive,” said Om Shankar, General Manager & Vice President, Konect. “We are building a strong sales pipeline with major fuel retailers and fleet operators across Europe and North America, with exciting announcements on the horizon.
