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KYLE, Texas - XCharge North America (XCharge NA), a subsidiary of XCHG Limited (NASDAQ: XCH), has announced an exclusive partnership with Roady’s Truck Stops, the largest chain of independent truck stops in the United States. The company, currently valued at $80.26 million in market capitalization, will become the sole provider of electric vehicle (EV) charging equipment and solutions for over 500 Roady’s locations nationwide. According to InvestingPro data, XCH maintains impressive gross profit margins of 50.29% and has demonstrated solid revenue growth of 9.59% over the last twelve months.
The collaboration aims to support Roady’s commitment to empowering business owners by offering adaptable charging solutions suitable for various business models and site configurations. XCharge NA’s flexible operating models include a Purchase and Operate Model, allowing business owners to buy charging hardware and retain all revenue from charging services, and a Turnkey Development Solution, which provides a full-service package from equipment to maintenance. The company’s strong financial position is evidenced by its healthy current ratio of 2.08, indicating robust ability to meet short-term obligations. Want deeper insights? InvestingPro subscribers have access to over 10 additional key financial metrics and analysis tools.
John Fechik, a consultant to Roady’s & PTP Truck Stops, emphasized the importance of this partnership for small business owners, stating that XCharge NA’s innovative chargers would attract new customers and drive revenue, especially during economic uncertainties.
XCharge NA’s offerings include the GridLink charger, designed to enhance the resilience of the North American grid, and a new Virtual Point of Sale system developed with Stripe, Inc. These products reflect XCharge NA’s commitment to improving grid stability and supporting small and independent businesses.
Aatish Patel, co-founder and president of XCharge NA, highlighted the opportunity to develop EV infrastructure that not only supports EV drivers but also strengthens the electrical grid amidst growing demand and climate-related challenges.
The partnership underscores the increasing relevance of EV charging infrastructure for the competitiveness and sustainability of businesses in the transportation sector.
This announcement is based on a press release statement from XCharge North America.
In other recent news, XCharge North America has introduced a Virtual Point of Sale (VPOS) system aimed at improving the payment experience for electric vehicle (EV) charging. This new system is designed to enhance transaction security and provide a streamlined payment process for users of XCharge systems. The VPOS is pre-installed on new systems and available to existing customers through a secure update. It supports multiple payment methods, including Apple Pay, Google Wallet, and standard card processing, managed via the Stripe platform. A notable feature is its dynamic on-screen QR code to prevent phishing and fraud, with additional security through an optional pin code. The system also includes real-time charging metrics, full data logging, and remote diagnostics for issue resolution. XCharge North America is also focusing on integrating energy storage to enhance grid resilience and create new revenue streams, following the recent introduction of their GridLink solution. This initiative is part of their ongoing efforts to make EV charging infrastructure more accessible and efficient.
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