Parking management company LAZ and EV charging firm indiGOtech have announced a joint venture to bring sustainable electric vehicle charging infrastructure to apartment and condominium properties, according to the announcement.

Key takeaways

  • LAZ and indiGOtech have formed a joint venture to expand electric vehicle charging infrastructure at apartment and condominium properties.
  • The partnership combines LAZ's parking management operations with indiGOtech's EV charging technology and services.
  • The initiative is aimed at making sustainable charging options more accessible to residents of multifamily housing.
  • The announcement was made via a company press release distributed through PR Newswire.

Key details

What the companies are combining

The joint venture pairs LAZ's experience managing parking facilities with indiGOtech's focus on electric vehicle charging technology. By combining parking operations with charging infrastructure deployment, the two companies aim to extend EV charging access to multifamily residential sites such as apartment complexes and condominium buildings.

The release frames the effort around sustainability, positioning the venture as a way to bring charging options to residents who may not otherwise have easy access to home charging, a common barrier for renters and condo owners compared with single-family homeowners who can install private chargers.

Why multifamily charging access matters

Access to EV charging has long been uneven between single-family homeowners, who can install private chargers at their own residences, and residents of apartments and condominiums, who typically rely on shared parking facilities controlled by property managers or homeowner associations. This gap has been widely cited by transportation and energy researchers as one of the practical obstacles to broader EV adoption in dense urban and suburban housing.

Parking operators like LAZ manage large volumes of parking facilities, including those attached to residential buildings, giving them an existing operational relationship with property owners and residents. EV charging companies such as indiGOtech specialize in the installation, management and servicing of charging equipment. A joint venture between a parking operator and a charging provider reflects a broader industry pattern of pairing existing property and parking infrastructure with the technical expertise needed to deploy and maintain chargers.

Industry context

The broader EV charging industry has grown rapidly as automakers expand electric vehicle lineups and governments at various levels encourage the shift away from internal combustion engines. A significant portion of that growth has focused on so-called "charging deserts" in multifamily housing, where installing chargers can involve navigating shared electrical infrastructure, property ownership structures and coordination between landlords, condo boards and charging vendors.

Joint ventures of this kind are a common structure in the sector, allowing companies with complementary assets and expertise to share investment and risk while pursuing a specific market segment, in this case multifamily residential parking. The announcement did not specify financial terms, a timeline for rollout, specific properties or markets, or pricing for charging services.