John Grifonetti Explores the Demand for EV Charging Stations in the United States

Automakers’ Plans to Release Plug-In Electric Vehicles

Most automakers are planning to ramp up their adoption of electric vehicles over the next few decades. Like Jaguar and GM, a few automakers are planning to completely switch their fleets to electric cars by the year 2030.

The Range of Electric Vehicles

Many people assume that electric vehicles will be charged using power supplied at home. This is true, but the reduced range of electric vehicle batteries will mean that people need to charge their cars away from home regularly.

Existing Numbers of EV Charging Stations

According to the Department of Energy, today, there are only 41,400 EV charging stations in the United States. Only 5,000 of these stations include fast chargers. This compares with the much higher number of 136,400 gas stations in the U.S.

Future Demand for EV Charging Stations

Increasing numbers of electric vehicles on the road will require the installation of many more charging stations. The Biden administration has proposed spending $174 billion to increase the adoption of electric cars and install 500,000 charging stations across the country. This build-out will require state, city, and private-sector assistance to take place.

EV Charging Stations Represent a Major Opportunity for Growth

While several established players in the EV charging station market, including ChargePoint and EVGo, there remains a significant opportunity for startup companies to take advantage of the growing market demand for charging stations. EV charging stations will be in high demand across the country and around the world as the numbers of electric vehicles continue to grow.

Charging Stations Are On the Rise

The adoption of electric vehicles means that the numbers of EV charging stations will need to grow significantly over the next 10 to 20 years. Automakers are taking their commitment to a healthier planet that is less dependent on fossil fuels very seriously. John Grifonetti believes that there is a significant market for companies that want to produce and install EV charging stations, and he encourages interested entrepreneurs to research the opportunity thoroughly.

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John Grifonetti

John Grifonetti

John Grifonetti has built a career investing into small businesses and personally helping them grow with his considerable acumen for understanding markets