Electric car charging industry gears up for new frontier of automobiles

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  Quantumrun Foresight
• February 18, 2022

Governments, utilities providers, and businesses are preparing for the new frontier of automobiles: electric vehicles (EVs). However, the advancement of the EV industry will be impossible without expanding EV charging facilities, both outdoors and inside buildings. As more infrastructure is built, larger numbers of EVs can be adopted by businesses and members of the public. 

EV charging infrastructure context

At present, China, the European Union, and the United States are the most advanced EV markets. And with EV adoption on the rise, governments and EV manufacturers are pondering how to make electric-powered vehicles a mainstream mode of transport. 

One key piece of infrastructure that can enable EV adoption is the widespread availability of EV charging stations/facilities. EV charging stations are usually machines or domestic plug points connected to the electric grid that EVs connect to for battery charging. There are challenges to building enough charging stations to serve increasing demand—such as power grid limitations and upgrading existing infrastructure—but recent advancements like the generation of much cheaper solar and wind power could support EV industry growth.

Disruptive impact

As EV charging facility networks are built up throughout the 2020s, building and maintaining these facilities will become a new sub-industry. Building charging networks will also support the development of modern electrical grid expansion. Countries with more EVs on their roads will experience reduced carbon emissions, benefitting air quality and the health of people living in urban areas.

Professionals in industries relating to combustion engine cars, oil and gas will have to navigate massive industry changes. Fortunately, establishing EV charging infrastructure will create jobs in engineering and construction, city planning, and multi-functional commercial spaces. 

Applications for EV charging infrastructure

Applications for EV charging infrastructure could include:

• Creating an entirely new industry that revolves around the services associated with EV charging.
• Opportunities for citizens and businesses to get tax breaks if they build and use charging stations.
• Helping governments reach zero emissions targets (and contributing to healthier populations) by encouraging more widespread EV adoption.
• Finding an outlet for surplus electricity that remains unused in highly developed economies.

Questions to comment on

• Will red tape be the biggest hurdle to establishing EV charging infrastructure or some other factor?
• If you were a city planner, where would you place commercial EV charging stations and why? 
• How could enterprises considering EV charging stations as a commercial venture maximize profits from these facilities?