Vontier Corporation (NYSE: VNT), a leading global provider of critical technologies and solutions to connect, manage and scale the mobility ecosystem, announced today that it is accelerating the global launch of its Konect electric vehicle (EV) charging solution – a new business enabling convenience store owners to capitalize on the fast-growing demand for EV charging. Konect is a unique, end-to-end solution that addresses all critical aspects of EV charging, from site selection and grant applications, through installation and technical support.
New Opportunities for Fuel Retailers
The EV market continues to gain momentum, both in vehicle sales and the infrastructure needed to support its growth and adoption. Global EV sales are predicted to reach over 11 million units in 2024 – a 15% year-on-year increase – and double again by the end of the decade, according to Bloomberg New Energy Finance (BNEF). This creates an attractive investment landscape for charging solutions while offering fuel retailers an exciting opportunity to meet customer needs and diversify.
Fuel retailers are uniquely positioned to support EV drivers, providing both convenient locations close to major routes and desirable amenities while they are plugged in – such as hot, fresh restaurant-style foods, refreshments, clean restrooms, WiFi and safe and well-lit facilities.
Comprehensive, Scalable Solutions
Launched in May 2024, Konect enables convenience stores to deploy their own chargers and future-proof their business with a profitable new revenue stream that also complements other services on site. The solution is aimed at simplifying the process for operators, while maximising uptime and return on investment (ROI). It’s easy to scale, ensuring fuel retailers can cater to a growing population of EV drivers by continuing to provide robust, intuitive and profitable charging infrastructure.
Konect brings together the leadership and technology from multiple Vontier businesses, including Gilbarco Veeder-Root (GVR), the worldwide technology leader in retail and commercial fueling operations; Invenco by GVR, the payment and point-of-sales solutions leader; and EV charging software leader Driivz, currently managing over 100,000 chargers globally for key industry players such as EVgo, Shell, Circle K, Volvo Group, Mer, and Recharge, among others.
Strategically Positioned for Growth
Initially focused on North America and Europe, Vontier and GVR are actively exploring adjacent markets as interest expands.
“No one is better positioned than convenience stores to meet the demand for charging infrastructure, and with the breadth of our mobility solutions, no one is better positioned than us to be the trusted partner to these companies,” said Mark Morelli, President and CEO of Vontier.
“At Konect, we adopted a mantra of ‘easy, seamless and profitable’ and hold that as a guiding principle. Our goal is to add to our customers’ bottom line when providing EV charging and the feedback has been overwhelming – fuel retailers want to work with a trusted and experienced partner, and we’re perfectly placed to provide that,” said Om Shankar, General Manager & Vice President, Konect. “We’re developing a strong sales pipeline with major fuel retailers and fleet operators across Europe and North America, with exciting announcements coming soon.”
ABOUT VONTIER
Vontier (NYSE: VNT) is a global industrial technology company uniting productivity, automation and multi-energy technologies to meet the needs of a rapidly evolving, more connected mobility ecosystem. Leveraging leading market positions, decades of domain expertise and unparalleled portfolio breadth, Vontier enables the way the world moves – delivering smart, safe and sustainable solutions to our customers and the planet. Vontier has a culture of continuous improvement and innovation built upon the foundation of the Vontier Business System and embraced by colleagues worldwide. Additional information about Vontier is available on the Company’s website at www.vontier.com.
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