Loungers PLC (AIM:LGRS) could be set to benefit from electric vehicles (EV) adoption with its new Brightside road restaurants, according to Shore Capital.
“We believe the new concept could be positioned well to benefit from potentially higher dwell times in the context of electric car adoption,” said analysts.
EV's often take “15-20 minutes to charge rather than re-fuelling which requires less than 3 minutes.”
Shore Capital also believes that electric vehicles tend to be driven by “more affluent customers,” which could result in these customers trading up for a more full-service offering.