Kempower: Significant heavy transport customer in the US
Oversigt
- We assess Kempower's acquisition of EV Realty as a significant customer in the early-stage truck transport charging market, highlighting the importance of this relationship as a reference for future growth.
- Kempower will supply DC chargers for a large-scale 76-stall fleet charging hub in San Bernardino, California, marking the largest grid-connected charging site in the US, with an estimated capacity of 10 MW.
- We expect this project to generate several million euros in revenue for Kempower and anticipate potential participation in similar future projects by EV Realty.
- In our view, the electrification of freight transport, supported by Kempower's technology, could lead to cost advantages over traditional diesel transport, enhancing the market role of large charging operators.
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Translation: Original published in Finnish on 10/1/2025 at 7:00 am EEST.
Kempower has recently acquired EV Realty as a customer, a major charging station operator that is currently building large charging stations for heavy-duty vehicles in California. We consider this a relatively significant customer acquisition, given that the truck transport charging segment is still in a fairly early stage of development as a market. Kempower has invested substantially in heavy-duty transportation and estimates that charging commercial vehicles will become the largest market segment by the end of the decade, surpassing passenger car charging.
Significant heavy transport customer
On Tuesday, Kempower announced in a press release that it will supply DC chargers for a new 76-stall fleet charging hub in San Bernardino, California, USA. The customer, EV Realty, announced the project's launch earlier in September.
The scale of the charging station is exceptionally large, and it will be the largest grid-connected charging site in the US. The station's total capacity is 10 MW, which we estimate will generate several million euros in revenue for Kempower. In addition, EV Realty has plans for other similar projects in which Kempower could participate. In the illustrations of the charging station, all or at least the majority of the stations appear to be based on Kempower technology.
We consider this customer relationship an important reference for Kempower and believe that large charging operators will play a more prominent role in the market in the long term. However, we do not see this customer relationship as creating an immediate need to change our estimates.
Site serves several heavy-transport contract customers
EV Realty's charging site serves several heavy transport operators on a contractual basis. Among the company's customers are trucking companies that transport freight, for instance, from California ports to inland distribution centers. The premise of electrified freight transport is that it will be cheaper than traditional diesel transport if there are facilities to quickly recharge trucks at both ends of the journey.
The charging station has two Kempower Megawatt Charging Systems that customers can use for extra-fast charging at an additional cost. These are Kempower's first MCS-class charging dispensers in North America.