Public Benefits of Investment in Electric Vehicle Charging

EVs can meet public agencies' economic, environmental, and equity objectives by harnessing trends in the market. Electric vehicle charging trends can help agencies position themselves for success.

FREMONT, CA: In the next decade, millions of electric vehicles will hit the roads, increasing the demand for fast charging stations. Providers must differentiate themselves to succeed in this highly competitive market.

Critical success factor: Fossil fuel consumption contributes significantly to climate change because they are consumed at an increasing rate. The automotive industry is committed to improving and facilitating mobility within cities through investments in battery electric vehicle (BEV) fleets and new all-purpose vehicles (APVs). It is the purpose of this paper to assess the customer perception of electric vehicles, as well as to identify the decision-making factors. Based on the results, the Portuguese automotive car park is predicted to grow in APV in Europe and in Portugal. As well as an increase in mobility options within the city, the charging point’s infrastructure is expected to grow. EV buyers place the highest value on price and autonomy, while they place the lowest value on brand and technology.

Leverage public land and facilities to forge public-private partnerships: A good supply of charging infrastructure is a necessary support for the development of electric vehicles and a strategic measure that promotes the green revolution and energy savings. There is, unfortunately, a need for smooth construction and operation of charging infrastructure in China, which is lagging behind the actual demand for charging infrastructure.

Avoid charging deserts by investing in people and power: Infrastructure for charging can serve more than just as a charging portal; it can also provide economic opportunity to historically marginalized urban and rural communities.

In order to prioritize EV charging in desert areas with the greatest climate and equity concerns, public-access EV charging locations should be added to existing multi-agency socio-economic and environmental databases.

Utilization poses the greatest risk to profitability. The build-out of infrastructure may increase installation and land-use costs during the build-out of charging infrastructure due to increased market competition. The CPO must deliver a relevant and appealing value proposition to their customers in the face of these conditions for price alone to be a sustainable basis for competition.