The number of charging stations for electric vehicles in the world has exceeded 1 million

The number of charging stations for electric vehicles in the world has exceeded 1 million

August 6, 2020 0 By autotimesnews

The electric car segment quietly reached one of the anniversary milestones as the number of public chargers worldwide surpasses the 1 million mark.

According to BloombergNEF, the threshold was crossed sometime in May – the number of charging stations doubled in just 3 years. Most of the new infrastructure has been built in China and Europe. North America, with far less sustained government subsidies and support, is lagging behind in the race to develop infrastructure, although there is some hope that a pandemic stimulus plan will catalyze a new wave of construction.

A parade of new battery-powered pickups from Ford, Rivian and Tesla could also accelerate the pace of charger installation in the US when these models roll off production lines next year. And GM has finally decided to invest in charging stations 24 years after creating its first electric vehicle.

“Elections can also make a big difference,” said Ryan Fisher, an analyst at BloombergNEF.

The specialist noted that the Democratic presidential candidate Joe Biden was “very optimistic about both electric vehicles and charging infrastructure.” For example, on July 14, Biden published a $ 2 trillion clean energy plan, including a Money-for-Junk program to encourage people to trade gasoline cars for electric models.

China remains the most aggressive country in the development of electric vehicle infrastructure, accounting for more than half of the world’s reserves. The electric vehicle infrastructure is growing rapidly; France is the leader in network investments in Europe. The European Union recently announced a target of 1 million public chargers by 2025.

BloombergNEF expects one in ten cars bought in 2025 to run on battery power, and by 2040 the world will need about 12 million public charging points and nearly $ 400 billion in infrastructure spending.