Why your business should invest in EV charging stations now
AMERICA DIVISION OF TOP SHINE CO.,LTD. , https://www.fiestasupplier.com
As the world continues to embrace electric vehicles (EVs), more drivers are making the switch every day. With this growing trend, consumers are increasingly choosing where they live, work, and shop based on the availability of EV charging stations. Are you ready to meet this demand and attract a new wave of customers?
Businesses have a unique opportunity to tap into this expanding market, generate additional revenue, and gain a competitive edge over others in your area. Establishing your location as a charging destination now can position you to benefit from the rising number of EVs on the road—this number is expected to grow significantly in the coming years.
Even during the global pandemic, the EV industry showed remarkable resilience. In 2020, global EV sales reached 3.2 million, up from 2.3 million in 2019. By 2025, it's predicted that sales will exceed 12.2 million, and by 2040, nearly 58% of all passenger vehicle sales could come from electric vehicles.
With so much growth ahead, it’s time for businesses to consider how they can support this shift. Offering EV charging isn’t just a convenience—it’s becoming a necessity. As more people choose electric cars, the need for public charging stations is increasing rapidly.
So why are EVs gaining so much traction? Here are six key reasons:
1. **More Model Options** – Car manufacturers are offering more EV models than ever before. With over 500 models expected to hit the market by 2022, there’s never been a better time to own an electric vehicle.
2. **More Affordable** – Thanks to technological advancements, EV prices are becoming more competitive with traditional gas-powered cars. Battery costs have dropped by over 86% since 2010, making EVs more accessible to a wider audience.
3. **Greater Range** – Modern EVs can travel distances comparable to gas cars. For example, the Hyundai Kona Electric can go over 239 miles on a single charge, making them suitable for both city and long-distance driving.
4. **Lower Operating Costs** – EVs require less maintenance and cost less to operate. The average cost per mile for an EV is about $0.04, compared to $0.13 for a gas car.
5. **Incentives Available** – Governments and utilities are offering tax credits, rebates, and discounted energy rates to encourage EV ownership. These incentives make owning an EV even more attractive.
6. **Sustainability Focus** – Many drivers are choosing EVs because of their environmental benefits. With tailpipe emissions being a major contributor to greenhouse gases, more eco-conscious consumers are switching to electric.
As EV adoption grows, so does the need for public charging. Unlike gas cars, which are refueled when the tank is low, most EV drivers look for a place to charge whenever they park. This behavior is similar to how we recharge our phones—when possible, we do it.
Not everyone has access to home charging, especially those living in apartments or rental properties. With over 30% of U.S. housing being rental units, these drivers will rely on public charging stations while shopping, dining, or running errands.
A recent study found that EV drivers prefer charging locations that are safe, accessible, and offer amenities like food, restrooms, and parking. These are all features that your business already provides.
The demand for EV charging is growing fast, and businesses that adapt now will be well-positioned for the future. Like Wi-Fi in the early 2000s, having EV charging will soon be a standard expectation for customers.
With over 1.7 million EVs already on the road in the U.S., the time to act is now. Whether you're a small local business or a large commercial property, installing EV charging can help you attract more customers, increase foot traffic, and boost revenue.
Ready to start earning from EV charging? Download our free ebook to learn how you can turn your location into a top EV charging destination—and take advantage of this growing market today.