Forum Mobility, a joint venture between CBRE and Homecoming Capital, has announced plans to invest $400 million in the development of electric truck charging depots in California.
The company aims to take advantage of the state’s efforts to transition the trucking industry to zero-emission vehicles. Investors, including Amazon, have already committed to the project.
The venture will focus on ten sites in Northern and Southern California, primarily in the ports of Long Beach and Oakland. The depots will be capable of simultaneously charging medium- and heavy-duty trucks.
The company expects to break ground in 2023 and is working with CBRE on the real estate side to secure sites and obtain necessary permits. The choice of locations is also supported by funding programs from the California Energy Commission and the California Air Resources Board.
The Port of Long Beach recently received a $30.1 million grant from the US Department of Transportation to deploy a fleet of electric vehicles for cargo handling. Forum Mobility has also adopted a “Truck-as-a-Service” model and is targeting small logistics companies with internal combustion engine trucks that have recently been banned from port operations.
