Latest news with #Applegreen
Yahoo
10 hours ago
- Automotive
- Yahoo
Transit authorities make surprising decision that will have big impact on Tesla drivers: 'Clearly a step in the wrong direction'
The New Jersey Turnpike Authority's decision to remove Tesla Superchargers from its service plazas means commuters could pay more for charging sessions or be unable to power up. Electric vehicle owners are decrying the move — whether they own a Tesla or not. On May 30, Tesla Charging (@TeslaCharging) announced on the social platform X that the NJTA requested the removal and decommissioning of all 64 Supercharger stalls on the New Jersey Turnpike even though the company said it offered "above-market commercial terms." Tesla has had Superchargers on the turnpike since 2014, according to Not a Tesla App, offering EV drivers 99.9% uptime (representing impressive availability and functionality) and 30% lower charging costs than those of competitors. However, as Electrek noted, Tesla's 2020 agreement with the NJTA has expired, and the transit authority has bestowed exclusive charging rights to Applegreen Electric. According to The New York Times, Applegreen already manages restaurants and stores along the turnpike. Tesla has struggled with volatile stock and declining sales this year, with CEO Elon Musk's involvement with the U.S. government and public rift with President Donald Trump key factors, worrying investors and polarizing consumers who view support for Tesla as a political statement. While Musk alleged that the NJTA's deal with Applegreen and refusal to allow Tesla to relocate its chargers on the turnpike was due to "corruption," he did not provide any evidence to support those claims. NJTA spokesperson Thomas Feeney told the Times that the move was intended to expand charging access to non-Tesla EV drivers. However, EV owners have been overwhelmingly united in their disdain for the NJTA's decision, arguing that the transit authority is making EV ownership more difficult, according to Not a Tesla App, which pointed out that Tesla's Supercharger network "is becoming the de facto fast-charging standard for a growing number of non-Tesla EVs." Drivers report that Applegreen's chargers, which feature only CCS1 cables, offer a worse charging experience or don't work at all, giving the company's iOS app a 1.9 rating out of 5. "This is clearly a step in the wrong direction that will hurt all EV owners," the publication wrote, also pointing to the millions of dollars of charging infrastructure that would be taken away without immediate replacement. In its statement on X, Tesla indicated that it would like to maintain its presence on the New Jersey Turnpike, saying it supports the addition of third-party chargers because it "drives down costs through optionality and accelerates EV adoption by having sufficient capacity to shoulder peaks." When you think about owning an EV, what concerns you most about public charging stations? Chargers not working Chargers not being available Charging being too expensive Charging taking too long Click your choice to see results and speak your mind. While boosting profitability is surely a major motivating factor for Tesla, having more EVs on roads would also benefit communities, reducing asthma-linked heat-trapping pollution from transportation. EV drivers also spend less money on energy and maintenance. In the meantime, Tesla says it will continue expanding its Supercharger network off the turnpike in New Jersey. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
Yahoo
a day ago
- Business
- Yahoo
Global Partners objects to Applegreen's Massachusetts project win
This story was originally published on C-Store Dive. To receive daily news and insights, subscribe to our free daily C-Store Dive newsletter. Last week, Applegreen received approval to rebuild and operate 18 travel plazas along major Massachusetts roads, including the state's main Turnpike, as part of the 35-year lease agreement with the Massachusetts Department of Transportation. The MDT approved Applegreen's pitch to take over the plazas over the course of two meetings on June 11 and 18. In the first of those, Scott Bosworth, chief of transit with the Massachusetts Bay Transportation Authority, said that the MDT chose Applegreen's proposal over those from several other notable convenience retailers, including Love's Travel Stops & Country Stores, 7-Eleven, RaceTrac and Energy North Group, which operates the Haffner's c-store banner on the East Coast. That list also included Waltham, Massachusetts-based Global Partners, which has publicly expressed its frustration with the MDT's decision in the days since it came down. Global Partners emphasized that its proposal was more cost-effective than Applegreen's and is pushing the MDT to keep the state's infrastructure local instead of working with a foreign company. Global Partners said in a June 13 announcement opposing the MDT's decision that its pitch for the travel plazas included over $1.5 billion in guaranteed rent and $650 million in capital improvements. While Applegreen's accepted pitch included $750 million in capital improvements, it is expected to bring in between $623 million and $994 million over the lifetime of the deal, according to the MDT's June 18 meeting. 'In a decision that defies logic and long-term fiscal responsibility, MassDOT recently awarded the 35-year MA Pike rest-stop lease to a bidder offering nearly $900 million LESS in rent than Global Partners' local offer,' Global Partners said in a LinkedIn post on Wednesday that has since been deleted. 'That's $900 million that could have helped offset budget gaps, fix roads and bridges, and spare taxpayers from looming toll hikes and excise increases.' Bosworth said in the June 18 meeting that Applegreen's pitch included three types of plaza designs: coastal, metro and western, all of which will be deployed depending on which part of the state each store is in. While each location will be slightly different, they'll all focus on creating more dwell time for consumers. Meanwhile, Global Partners' pitch included strategic partnerships with local food companies and regional QSRs, as well as an increased focus on 'guest experience, sustainability, and equity,' according to its June 14 announcement. It did not mention anything regarding store designs. 'Our proposal wasn't just financially stronger; it was built on our 90-year history of local investment, partnerships with homegrown businesses, and a vision for infrastructure that reflects the Commonwealth's identity,' Mark Romaine, chief operating officer for Global Partners, said in the June 14 announcement. 'This isn't just about who operates a travel plaza — it's about who we are as a state.' Global Partners is urging residents to contact Massachusetts Governor Maura Healey and state legislators 'to demand transparency, accountability, and a deal that puts Massachusetts first' in an attempt to reverse the MDT's decision. 'This fight for Massachusetts is not over,' the company said in a June 18 statement. 'As MassDOT enters the next phase of the bid process, we hope they will truly consider what they're giving up for the Commonwealth and weigh the risks before signing a lease.' Recommended Reading Applegreen to spend $750M remodeling 18 Massachusetts travel plazas
Irish Times
20-06-2025
- Business
- Irish Times
Applegreen plots US expansion and AIB's road out of Government ownership
Petrol station business Applegreen has agreed a contract for 18 services stations in the United States. The move comes as part of a $750 million investment by the company. Joe Brennan reports. Concerns about the state of the economy in the coming months have risen sharply since the beginning of the year among businesses on the island of Ireland, but especially in retail and construction, according to a new survey. Mark Hennessy has the details. The median first time buyer property value rose by more than €100,000 between 2019 and 2024 to almost €372,000, new data from lobby group Banking and Pyaments Federation Ireland show. Colin Gleeson read the report. The Central Bank this week underlined the threat to the Irish economy from US tariffs. In his column, Eoin Burke-Kennedy analyses what is really at stake for the country. READ MORE AIB has come a long way since the dark days of State rescue and nationalisation during the financial crisis. Some 15 years and €20.8 billion later, in Agenda Joe Brennan shows how the bank recovered to be the multibillion euro pillar bank it is today. Irish homeowners who have adopted energy-efficient technologies such as solar panels, heat pumps, and electric vehicle (EV) home chargers can save in excess of €3,000 a year, according to a new report. Conor Pope explains how they do it. As eyes start to turn to the Budget, it is clear already there is little chance of any reduction in income tax this year. Cliff Taylor explains why. Ireland is the second most expensive country in Europe with only Danes expected to pay more for a range of goods and services, the latest figures from Eurostat have confirmed. Prices here are significantly higher than the European average with things worsening over the last decade, the data suggests. Conor Pope reports. House prices in Ireland grew at an average annual rate of 7.5 per cent in April, amid ongoing supply shortages and surging demand fuelled by Government incentives and expectations of further interest rate cuts. Ian Curran has the details. Minister for Finance Paschal Donohoe said he is 'grateful for the strong level of support' he is receiving from other capitals, to stay on as president of the Eurogroup for a third term. Jack Power has the story. Microsoft is planning to axe thousands of jobs, particularly in sales, as part of the company's latest move to trim its workforce amid heavy spending on artificial intelligence. When you are working and raising young children , there is little time to think about your own health or your physical and mental needs. We just get on with it. Does this have an impact on our careers and our long-term health and happiness though? Margaret E Ward explores the issue in World of Work. The operator of Dublin's Clarence Hotel is set to almost triple the hotel bedroom capacity of the former U2-owned hotel, after an appeal against the plan was dropped. Gordon Deegan reports. Kenmare Resources has walked away from takeover talks with its former managing director Michael Carvill and an Abu Dhabi private equity firm after the consortium made it clear it would only be willing to proceed with a bid that was below its initial £473 million (€553 million) proposal. Joe has the story. If you'd like to read more about the issues that affect your finances try signing up to On the Money , the weekly newsletter from our personal finance team, which will be issued every Friday to Irish Times subscribers.
Irish Times
20-06-2025
- Business
- Irish Times
Applegreen to invest $750m in Massachusetts motorway service stations under 35-year deal
Applegreen , the Irish fuel forecourt retail group, has been awarded a 35-year contract to operate 18 motorway service areas in Massachusetts. Under the deal it will invest more than $750 million (€654 million) in the network. The group, backed by US private equity giant Blackstone , will spend the money replacing buildings at nine plazas and carrying out major renovations of the others, US news media reported. This would make it the biggest spending project Applegreen has entered into in the US. The company will have the contract to operate the restaurants, cafes and shops at the plazas and to sell fuel and operate electric-vehicle (EV) charging sites at each location. READ MORE It will pay up to $994 million in rent to the State of Massachusetts during the 35-year deal, reports said. Of the 18 service stations, 11 are on the longest motorway in the state, known as the Massachusetts Turnpike, which spans 222km and was opened in 1957. Applegreen beat two other final-round bidders for the contract. Fuel supplier Global Partners had been seen as the favourite to be selected by the Massachusetts Department of Transport (MassDOT). 'We're thrilled to have the opportunity to work with the Commonwealth of Massachusetts and MassDOT to improve the travel experiences of drivers across Massachusetts for years to come,' a spokesman for Applegreen said. Applegreen entered US market in 2014 when it bought two sites in Long Island. In 2020, the group was part of a consortium that signed a 33-year lease to refurbish and operate 27 motorway plazas on New York Thruway, a system of toll roads within the State of New York. It does not have the fuel sale element of that deal. Applegreen runs more than 100 US motorway service areas, where it operates restaurant and cafe brands such as Burger King, Shake Shack, Chick-fil-A, Popeyes, Starbucks, Dunkin', Panera Bread and Panda Express. The company was founded by Robert Etchingham in 1992 with one station in Ballyfermot, west Dublin. It now has almost 200 locations in the Irish market. The company typically invests more than €30 million a year in the Irish market on store openings, upgrades and improvement. Applegreen was taken private from the stock market in March 2021 by Blackstone in a €718 million deal that saw Mr Etchingham and long-standing executive Joe Barrett retain a combined 42.5 per cent stake in the group. The company's then independent directors decided unanimously to recommend the takeover bid for the group, arguing it faced borrowing constraints as a listed company as it faced large investments in electric car-charging facilities and US highway service areas. Applegreen agreed this year to sell its UK filling station business to UK rival EG On The Move for an undisclosed sum. That business had 98 sites. The company said it would use the proceeds from the transaction to invest in its business in Ireland, the UK and US. The deal did not affect Applegreen's Welcome Break motorway service business in the UK, which also has a network of 31 hotels.
CBS News
19-06-2025
- Business
- CBS News
Here's what's proposed for 18 Massachusetts highway service plazas after Irish company wins bid
Big changes are coming to 18 highway service plazas in Massachusetts. The Department of Transportation voted Wednesday to award a 35-year lease to an Irish company that intends to raze and rebuild nine rest stops, while significantly refurbishing nine others. Construction will start in January of 2026. Applegreen chief investment officer Ronan Ryan said Dublin-based company will invest $750 million in the plazas, which will remained owned by MassDOT. "We have a proven track record of undertaking significant service plaza redevelopment projects in the U.S.," Ryan said. Map of service plazas that will be rebuilt or renovated. MassDOT Many of the plazas that will be knocked down and rebuild are on the Mass Pike. They include the Natick, Framingham, Westboro, Charlton, Ludlow and Lee plazas. At the MassDOT board meeting, many spoke out in favor of Boston-based Global Partners, which was also bidding for the contract. Global Partners chief operating officer Mark Romaine said that his company made a rent commitment that was worth $500 million more than Applegreen. "Instead, the committee is recommending a foreign-owned operator with a documented history of underperformance," he said. MassDOT chief development officer Scott Bosworth touted Applegreen's "bold approach" and noted that they just renovated 27 service areas in New York. The plazas will have a different exterior based on their location, with "coastal," "metro" and a "western" design that is meant to invoke the Berkshires. Different exteriors for the renovated rest stops. MassDOT Among the improvements planned for the Massachusetts rest stops include hundreds more parking spots, children's play areas, dog areas and "inviting" bathrooms. "Seventy percent of the people turn into the plaza to use the bathrooms. That's a critical point," Bosworth said. "The data shows that if they have a good experience doing that, the dwell time will be increased as well as the conversion rate, meaning they'll actually stop and buy something." Plans for the refurbished service plazas. MassDOT
