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Why your business should invest in EV charging stations now
Electric vehicles (EVs) are becoming increasingly popular around the world, with more drivers making the switch every day. As EV adoption continues to rise, people are now considering where they shop, eat, and park based on the availability of charging stations. Are you ready to meet this growing demand?
Businesses have a unique opportunity to tap into this expanding market, generate extra revenue, and gain a competitive edge over others in your area. Establishing your location as a convenient charging spot today can help you attract more customers and position yourself as a leader in the EV movement.
Even during the pandemic, electric mobility showed remarkable resilience. In 2020, global EV sales reached 3.2 million, up from 2.3 million in 2019. By 2025, it's expected that over 12.2 million EVs will be sold worldwide. And by 2040, nearly 58% of all passenger vehicle sales could come from electric models.
The growth of EVs is driven by several factors. First, there’s a wide variety of models available, with over 500 expected to hit the market by 2022. Second, EVs are becoming more affordable due to falling battery costs—down over 86% since 2010. Third, modern EVs offer longer ranges, with some models capable of traveling over 200 miles on a single charge.
Additionally, EVs are cheaper to operate than traditional vehicles. With fewer moving parts, they require less maintenance and cost significantly less per mile to drive. Governments and utilities are also offering incentives, such as tax breaks and discounted electricity rates, to encourage EV ownership.
Sustainability is another key driver. Many consumers choose EVs because they want to reduce their environmental impact. By welcoming EV drivers, your business can become more eco-friendly and attract a new wave of conscious customers.
As more people switch to electric vehicles, the need for public charging stations is growing. Unlike gas cars, which are refueled when the tank is low, most EV drivers charge whenever they park. This means your business could become a go-to spot for drivers looking to recharge while shopping, dining, or running errands.
Not everyone has access to home charging, especially those living in apartments or rental properties. With over 30% of U.S. housing being rented, these drivers are likely to seek out businesses with charging options. Studies show that EV drivers prefer places that are safe, accessible, and offer amenities like food, restrooms, and comfortable spaces.
Providing EV charging at your location isn’t just a trend—it’s becoming a necessity. Just like free Wi-Fi was once a nice-to-have, businesses without EV charging may soon fall behind. Offering this service can enhance customer experience and attract more visitors.
With over 1.7 million EVs already on American roads, now is the perfect time to get started. Whether you're a small business or a large enterprise, adding EV charging can boost your revenue and keep you ahead of the curve.
Ready to turn your space into an EV charging hub? Download our free guide to learn how you can start earning from this growing market today.