Do you have an electric vehicle? Are you wondering how all of what is happening with BEL can affect you? Where will you charge your EV? Well, from what we know, BEL has cut its capital investment by almost $30 million this year, and one of the areas it scaled back is the building of charging stations for electric vehicles. So, again, what does that mean for you if you own an EV? Here’s BEL Chairman Dr. Lynn Young.
Lynn Young
Dr. Lynn Young, Chairman, BEL
“As you can imagine, any company that is facing a situation like this, like I explained to the Senate, and I hope I get another chance to explain what is happening to them, because they make the decisions. The government is the regulator, and we need to make sure they understand, and the media, we need to make sure they understand what the actual situation is. But like we explained to them, one of the things BEL could have done was to reduce its capital expenditure. The economy of the country has been growing significantly higher than BEL forecasted which is one for the reasons why we had to rush to put in the GT in San Pedro. But if BEL was to scale back on line extensions and charging stations and all of this then it is going to affect the economy too right. So, the company spent somewhere about a hundred million in capital expenditure last year. We reduced that to about seventy million this year. and some of that is we have delayed the roll out of some of the charging stations. We just had a discussion about that this week. We have been meeting with some of the EV companies and they are impressing on us the importance of getting these charging stations out.”
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