Electrifying Mobility: The Race to Deploy Critical Charging Networks
According to industry reports, there are now almost 20 million passenger EVs on the road across consumer and commercial segments. In global markets, EVs have seen a steady rise in recent years and demand is projected to exponentially increase as the market matures and more options become available to consumers. But as unprecedented EV growth continues, countries must ramp up the deployment of charging points to power new electric cars on the road. While global publicly available EV charging points were up by nearly 40% in 2021, approaching 1.8 million charging points worldwide, a third of which were fast chargers, the pace of growth must continue to accelerate to meet demand that’s rising at an exponential rate.
Consider these global stats:
- In the U.S., the Biden Administration’s target of having 500,000 public charging stations in place by 2030 reflects that expected growth – that’s about 10 times the number of U.S. public charging stations out there today. This means adding more than 3,000 public charging stations each month for the next several years, which is more than double the current pace of public EV charger installation.
- APAC markets are also seeing growth. Singapore for example, is aiming to grow their current charging network of 1,900 to 60,000 by 2030. And with over 30% of Southeast Asian consumers noting lack of charging infrastructure as their greatest concern about EVs according to a study by Deloitte, all countries in the region are taking the buildout of their own charging infrastructure seriously.
- In Europe, the EV Charging Infrastructure master plan is calling for 6.8 million public charging points by 2030 in order to reach a proposed 55% CO2 reduction for passenger cars. This means about 14,000 public charging points need to be installed per week between now and 2030 compared to just 2,000 a week as of 2021.
We sat down with representatives from Faith Technologies and EVgo to discuss actionable best practices to deploy EV charging networks at speed and scale rapidly.