Vector, EV charging stations
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Navigant Research has issued a new report on the current state of business models for the provision of EV charging stations and networks.

Key report findings include:

  • Electric vehicle charging businesses need to consider revenue streams outside of energy sales to be competitive
  • Demand for EV charging stations is growing rapidly as countries head towards electrifying transport sector
  • The EV charging sector is facing a challenge is to develop profitable business models for charging solutions that can expand EV ownership to those who do not yet have a dedicated place to charge
  • Majority of investments towards infrastructure development is from large utilities and energy firms
  • Market players should take advantage of the potential of vehicle-to-grid integration to stay competitive
  • Market expansion to be boosted by further collaboration between automakers and hardware and software suppliers

Scott Shepard, a senior research analyst at Navigant Research, said: “The market for EVs has been growing steadily over the last decade, and the prospects are good for stronger growth in both light-duty consumer vehicle and commercial vehicle electrification.

“As the future for transportation looks to be favoring electric drive, the need for ubiquitous, simple, safe, and easy rapid charging is essential to ensuring the long-term elimination of gasoline and diesel from the options for vehicle fuel.”