Do you know what drives electric vehicle infrastructure investment?

The cost of ownership for electronic vehicles (EVs) has dropped significantly. Several manufacturers have EVs that retail at par with internal combustion engine vehicles. This has made them accessible to the average consumer.

There is also a growing awareness about electric vehicles and their benefits.

What does the growth predict and what does this mean for consumers?

For starters, they can expect to see more chargers out on the road within the next several years. Additionally, they can expect to see more innovative solutions rolling out of production lines.

Already some automakers are collaborating with charging infrastructure providers to increase access to charging stations. Volvo USA and ChargePoint, for instance, run one such venture. In it, the latter will offer Volvo EV owners Home Flex chargers enabling them to recharge their vehicles from home.

In addition, many companies are now making EV charging stations available at their premises. This move enables employees and customers to charge their vehicles while there.

Car owners can look forward to increased availability of battery storage systems and solar charging stations. These will allow EV owners to charge their vehicles from almost anywhere. Furthermore, they’ll enable vehicles to keep their charges for longer mileages.

Smart charging solutions will also ease the charging woes that many EV owners face on highways. These include NFC and RFID, allowing you to charge your car without plugging it into the mains electricity.

For more information and statistics, read the complete report EV charging infrastructure expected to surpass $62B in 2025.

Source: MoneyTransfers.com