Why your business should invest in EV charging stations now
Fiesta, Party, Collection AMERICA DIVISION OF TOP SHINE CO.,LTD. , https://www.fiestasupplier.com
Electric vehicles (EVs) are rapidly transforming the way people travel, and more drivers around the world are making the switch every day. As EV adoption continues to rise, consumers are increasingly choosing where they shop, dine, and park based on the availability of charging stations. Are you positioned to meet this growing demand?
Businesses now have a unique opportunity to tap into this expanding market, generate additional revenue, and gain a competitive edge over local competitors. By becoming a charging destination, your location can attract more customers and position itself as a forward-thinking hub for electric mobility.
Even during the global pandemic, the shift toward electric vehicles remained strong. In 2020, global EV sales reached 3.2 million, up from 2.3 million in 2019. Experts predict that by 2025, EV sales will surpass 12.2 million, and by 2040, nearly 58% of all passenger vehicle sales will be electric. These numbers show that the future of transportation is electric—and it’s here now.
So why are more people switching to EVs? The answer lies in their increasing appeal, accessibility, and affordability. Here are six key reasons behind the rapid growth of EV adoption:
1. **More Models Available**
With over 500 EV models expected to hit the market by 2022, there’s never been a better time to own an electric car. Major automakers are investing heavily in EVs, giving drivers more choices than ever before.
2. **More Affordable**
Battery prices have dropped by over 86% since 2010, making EVs more cost-effective to produce and purchase. This trend is helping bring down prices and make electric cars more accessible to the average consumer.
3. **Improved Range**
Modern EVs offer range comparable to traditional gas-powered vehicles. For example, the Hyundai Kona Electric can travel up to 239 miles on a single charge—making long trips and daily commutes easier than ever.
4. **Lower Operating Costs**
EVs require less maintenance and have lower fuel costs. On average, it costs about $0.04 per mile to drive an EV compared to $0.13 per mile for a gas car. That’s over three times cheaper!
5. **Government Incentives**
Many governments and utilities are offering tax credits, rebates, and discounted energy rates to encourage EV ownership. These incentives help reduce the overall cost of owning and operating an electric vehicle.
6. **Environmental Responsibility**
Sustainability is a major factor for many drivers. With tailpipe emissions being a leading cause of greenhouse gases, eco-conscious consumers are choosing EVs to reduce their carbon footprint.
As more drivers choose electric, the need for public charging stations is growing. Unlike gas cars, which are refueled only when the tank is low, most EV drivers charge whenever they park, often keeping their battery above 50%. Think of it like recharging your phone throughout the day—convenience matters.
Not everyone has access to home charging, especially those living in apartments or renting. With over 30% of U.S. housing units being rental properties, these drivers rely on public charging stations while shopping, eating, or running errands.
A recent study found that EV drivers prefer charging at locations that are safe, accessible, and offer amenities like food, restrooms, and parking. These are exactly the features that businesses already provide.
With over 1.7 million EVs on American roads today, the time to act is now. Offering EV charging at your business isn’t just a convenience—it’s a strategic move that can attract new customers, increase foot traffic, and boost revenue.
By installing EV charging stations, you can become a go-to spot for drivers looking for a place to recharge. Just as free Wi-Fi became a standard in the early 2000s, EV charging is quickly becoming a must-have for businesses that want to stay relevant and competitive.
Ready to start earning from EV charging? Download our free ebook to learn how you can turn your location into a popular EV charging destination and grow your business.