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The era of petrol used cars is gradually coming to an end. The market for electric vehicles is growing rapidly. It’s estimated that there are more than 1 billion cars on the world’s roads and around 2 to 3 million are pure battery-electric and plug-in hybrid electric vehicles.
According to the International Energy Agency, which forecasts that there may be 300-400 million EVs on the road out of approximately 2 billion vehicles by 2040.
With Electric cars, the environment is safer and healthier for they do not emit carbon and CO2 from exhaust fumes (like petrol cars) which are harmful and useless to human beings and the environment.
The electric vehicle (EV) has an electric motor, runs on batteries, and evidently does not require refueling but recharging.
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The charging stations are usually deployed in buildings and public parking areas, shopping malls, or workplaces to supply electrical power for charging these plug-in electric vehicles. Some of these charging stations are equipped with advanced features such as smart metering, network connectivity, or cellular capability.
Meanwhile, most top automakers are now developing electric cars thereby making the industry bigger, famous, and richer.
As of January 04, 2022, according to the market research study published by Facts and Factors, the demand analysis of the Global Electric Vehicle Charging Station Market Size was valued at around USD 18.22 billion in 2021 and is expected to reach approximately USD 115 billion by 2028, at a compound annual growth (CAGR) of 35% between 2021 and 2028.
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One of the problems of electric cars before now is that it is very expensive and they are not enough provisions for charge stations but now, many companies all across the world have ventured into establishing EV charging stations and we hope that with time the high price will reduce/drop.
Below are the top 10 leading EV charging companies making waves in the industry:
ChargePoint is the leader in the EV charging industry. It is the largest and most open EV charging network globally. It has over 150,000 charging ports as of March 2022 across the US, Canada, Mexico, and other countries.
Formerly known as Coulomb Technologies was established in 2007 and is headquartered in Campbell, California. They created a mobile-based app that helps people to track and locate available stations in a particular area to charge their electric vehicles.
In 2017, ChargePoint took over the management of General Electric’s 10,000 charging stations and added them to their pre-existing stations. All their charging stations are available with affordable subscription plans and utility grid management technology.
Furthermore, in August 2021, ChargePoint acquired ViriCiti, an Amsterdam-based provider of electric bus and commercial fleets. This acquisition is expected to expand ChargePoint’s operations in Europe as well.
Shell, also known as Royal Dutch Shell Plc, is a U.K.-based multinational oil and gas company that is into the EV charging business by using the GreenLots business unit which it acquired at the start of this year for an undisclosed amount.
In 2017, it acquired EV charging specialist NewMotion, which has more than 30,000 points across Europe, and access to 50,000 more, according to Green Tech Media. Shell also took part in the investment round of a company called Ample, which says it offers an alternative to conventional charging by using proprietary autonomous robotics technology.
The company converted old gas stations into EV charging Hub. Shell has installed around 90,000 electric vehicle charging points and It plans to roll out 500,000 electric charging stations by 2025.
Shell has a wide range of rapid and high-power charging equipment and a user-friendly mobile application that allows the user to locate the nearest Shell charging station and offers information related to price and charge session history.
ABB Technology Company is one of the largest industrial robot manufacturers in the world. They offer services in different sectors including power, robotics, automotive, and heavy electrics. And they also manufacture fast chargers for both electric cars and buses.
This company was formerly known as ASEA Brown Boveri. Located in Zürich, Switzerland, and founded in 1988, the company is focused on providing emission-free mobility for everyone that is accessible and reliable too.
ABB has launched many EV charging solutions from basic to high quality, compact AC wall boxes and fast DC charging stations with seamless connectivity.
In 2019, ABB launched the new Terra 360 modular charger that can charge up to four EVs at once and fully charge EVs within 15 minutes. The charger can deliver a charge giving 100kms(62 miles).
And in 2021, ABB signed a contract in Qatar to set and design the largest e-bus charging station across multiple locations and supply high power charging infrastructure for bust depots, 12 metro stations, and around 8 bust stations. They are also in partnership with Porsche to develop EV chargers.
In 2022, the company signed a global agreement to provide its full portfolio of charging technology to Shell. ABB is a major player in the EV charging station market, as it continues to develop advanced technologies for EV charging.
BP is a famous energy company that is into the electric power and oil and gas sector. They provide charging points in the UK using the UK’s largest electric vehicle (EV) charging company Chargemaster.
The company was founded by entrepreneur David Martell in 2008 and since then, It has acquired above 40,000 charging stations as of early this year. It is headquartered in Milton Keynes, England.
BP invested in a Chinese EV charging platform provider in China called PowerShare. Other initiatives include a $5 million investment in FreeWire, which makes mobile charging stations.
In December 2022, the company announced its acquisition of AMPLY Power, an electric vehicle (EV) charging and energy management provider for fleets that operate trucks, transit and school buses, vans, and light-duty vehicles.
BP claims to be the largest provider of charging ports in the UK through its subsidiary, Chargemaster, which it acquired in 2018. The company is making bold moves through acquisitions to cement itself as an EV charging station powerhouse.
5. TESLA INC
Tesla is the biggest Electric Vehicle Company in the world. They manufacture automobiles, EV batteries, and services relating to solar energy such as solar panels, solar roof tiles, and storage systems.
The U.S.-based electric vehicle company located in California was founded by Elon Musk, the richest man in the world with a net worth of over $250 billion.
Before now, Tesla offers various charging stations only for Tesla models but as of 2021, they opened charging networks to other electric vehicles as well.
Tesla charging stations come in two main varieties. The most well-known is the Tesla Supercharger network which is designed for Tesla models and can add 200 miles of power within 15 minutes. These can be found along expressways.
Tesla currently has 31,498 superchargers worldwide in nearly 3,500 charging stations and is planning on adding 1,047 more charging stations which will account for no less than 10,000 supercharging stalls.
The second type of charging station Tesla offers is called ‘Destination’. These can be found at hotels, restaurants, and shopping centers across the country, and while it can’t offer the same charging speed as a Supercharger, It allows free charging for Telsa models but, parking charges may apply.
Hyundai automobile company is mostly known for manufacturing cars. Hyundai offers various electric vehicle charging stations, AC charging, DC charging, and wall box charging among others. Owning about 33.8% of Kia Corporation, partnered with them to develop a wireless electric vehicle charging system
With its location in Seoul, South Korea, the company in 2015, Hyundai-Kia America Technical Center, Inc. joined hands with Mojo, Mobility, Inc. to develop wireless electric vehicle charging infrastructure.
For now, what they have demonstrated is an autonomous electric car parking itself over an EV charging point. Wireless charging is being looked into by other companies as well.
Hyundai also have a solar charging system for cars, whereby the solar panel is integrated into the roof of the vehicle.
This is Europe’s largest engineering company and it provides a number of charging solutions, for both homes, and public roads, as well as standard and fast charging.
It has been providing its employees with free top-ups for their electric vehicles through its own charging stations for a long time now. They focus on various fields like healthcare, electronics, energy, and transportation.
Founded in 1989 and located in Munich, Germany, the company has installed various electric vehicle charging solutions right from basic charging to fast charging.
Siemens has also launched wall box charging that can be used in both private as well as semi-private environments. The company was an investor in ChargePoint for some years and has since installed hundreds of charging points under its fold across Europe.
EVgo is a company that provides electric vehicle charging stations for both private and public EVs. They claim to operate the largest network of public electric fast-charging stations in the US with 100% renewable energy.
The company has more than 850 EV fast charging stations in more than 30 states and also provides EV drivers access to more than 1,900 fast chargers.
The company was founded in 2010 with its headquarters in California, USA. They partnered with ABB to establish what it says is the first “high-power” fast charging station in Fremont, California.
They have rendered their services to Nissan, BMW, GM, Hyundai, Kia, Ford, and Tesla to provide EV charging stations.
EVgo so far installed a total of 1,050 chargers in more than 66 metropolitan areas across the US. As of April 2022, EVgo announced the partnership with Chase to provide EV charging infrastructure to its bank.
Another company on the list is EVBox company. They design, manufacture, and sell easy and available fast charging stations for electric and semi-electric vehicles at affordable rates.
EVBox provides various hardware and software solutions which include both home and commercial chargers.
Founded in 2010 and located in Amsterdam, Netherlands, EVBox has partnered with many companies such as EVTronic, Eneco, Engie, Eon, and others to provide charging stations to enterprises, and residents.
The company also has 700 fast charging stations which it acquired through the takeover of EVTronic in 2018.
They have been doing well for themselves with approximately190,000installed charging points across the globe as of 2020. They provide EVBox Elvi, EVBox BusinessLine (best selling), EVBox Iqon, EVBox Troniq, and EVBox Ultoniq. It also offers software that helps the user to track, manage and optimize EV charging equipment.
The last but not the least on our list is Blink Charging. This is a U.S.-based public electric vehicle charging company that provides fast level 2 EV charging networks and stations at home and in public places. It has around 150,000 registered members and has installed about 23,000 charging ports in the US.
The company was founded in 1998 and is headquartered in Miami Beach, Florida. Blink partnered with Tauriga to install 5,000. The company has a wide variety of electric vehicle supply equipment and has deployed around 30,000 charging ports over 13 counties, across the globe.
In July 2021, TAPCO Partners became a worldwide distributor of Blink Charging’s mobile and fixed electric vehicle charging stations.
The rate and interest in EVs (Electric Vehicles) are increasing and some governments of countries are devising policies to increase the adoption rate of the EV.
With the fluctuating prices of petrol and diesel and the carbon and Co2 emissions, the world will soon move to EVs and then we will be faced with electricity supply problems.
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Henry John is a Stock Portfolio Manager that focuses on companies developing cutting-edge technologies.
Keeping track of cutting-edge techs, companies and stocks is what I do almost everyday. And I love it. Whether it’s artificial intelligence, 5g, or autonomous vehicles; I’m all in.
I’m a self-made millionaire who made most of his money investing in technology companies while working in finance.
Yes! I owe it all to tech and finance.