A Texas-based company called Amperage Group, apparently was formed in September 2022 and playing off the electrical term in its name, announced the launch of Amperage Capital, “backed by a number of large Dallas family offices.” The company will invest in designated electric vehicle (EV) charging spaces in multifamily developments by paying for construction costs and charging equipment, according to a press release.

“In order for electric vehicles to be widely adopted, there needs to be a solution for the 44 million Americans who live in apartment communities,” CEO Farrukh Malik said in prepared remarks. “Currently, over 90% of electric vehicle owners charge their cars at home. However, apartment residents often have to share charging stations, which can lead to a frustrating customer experience and prevent them from fully benefiting from electric vehicle ownership.”

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Erik Sherman

 

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