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Riverside signs nonbinding MOU to pursue Chevy Co Limited U.S. headquarters, charger deployment
Summary
Council authorized the mayor to sign a nonbinding MOU with Korean electric‑vehicle charger maker Chevy Co Limited to explore a U.S. headquarters, potential $100 million investment and initial deployment of 45 chargers in Riverside; revenue sharing and purchasing plans will be negotiated later.
The City Council authorized a nonbinding memorandum of understanding with Korean EV‑charger manufacturer Chevy Co Limited after staff presented results from a recent trade mission and an initial collaboration plan.
Deputy Director Miranda Evans described foreign direct investment outreach in Japan and Korea and said staff developed a lead with Chevy, which staff characterized as "the leading manufacturer of electric vehicle chargers in Korea" with a plan to invest roughly $100 million in the U.S. and to bring about 100 or more full‑time employees if the project proceeds. Evans said the draft MOU is nonbinding and includes short‑term objectives (establish a U.S. office in Riverside and draft a five‑year purchasing plan) and an initial, nonbinding deployment concept for 45 chargers: 27 public chargers throughout the city and 18 privately funded chargers at the Canyon Springs Medical Campus.
Evans said the MOU would enable staff to negotiate a revenue‑share arrangement and develop a procurement/purchasing plan for council review. Councilmember Robillard described Chevy's reliability metrics and said the company stood out among other suitors; councilmembers asked whether subsidies would be required and were told none were planned at this time and that revenue‑share splits would be negotiated in the purchasing plan.
Councilmember Robillard moved, Councilmember Perry seconded, and the council approved the nonbinding MOU unanimously. Staff will return to the council with a purchasing plan and additional details before substantial procurements or financial commitments.
