How EVCS is Addressing the Surging Demand for EVs

The EV world has much to celebrate this year. It seems we’ve reached a turning point. While the overall number of new vehicles sold in America between Q2 2021 and Q2 2022 slumped by 20%, EV sales during that same period jumped over 66%, according to figures released by Cox Automotive. This comes on the heels of a larger global trend, with worldwide EV shipments up 79% year over year.

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Total sales of all-electric vehicles in the US have steadily risen through 2022, even in the face of economic headwinds caused by inflation, chip shortages and other supply chain issues. Almost 159,000 BEVs were registered in Q1 2022, followed by almost 197,000 in Q2, per data from Experian and Kelley Blue Book. Experts expect to see this pattern continue when Q3 numbers are released.

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According to Senior Research Analyst Soumen Mandal, “The EV market is witnessing a boom. [Moreover], shipments would have been higher if the automotive supply chain was not affected by the Ukraine crisis and fresh COVID-19 waves in China.” He cites fierce competition by both new and existing players in the manufacturing world, leading to cutting-edge tech that has improved battery life, driving range and ADAS. As a result, Automotive News notes that Hyundai, Ford, Nissan and Volkswagen all had vehicles among the top 10 best-selling EVs as they ratchet up operations in a quest to rival Tesla’s dominance.

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The sales surge is likely due to a confluence of factors: the extended number of offerings from automakers, government subsidies, new legislation that phases out ICEs, high gas prices and the steady expansion of charging infrastructure. Whatever the ultimate causes though, Americans have begun embracing electric as an efficient, cost-effective alternative to environmentally harmful fossil fuels, particularly in the mobility space, resulting in a BEV market share of 4.6% nationwide – a new record.

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The writing is on the wall: America needs fast, convenient, reliable infrastructure to power the rapidly growing BEV segment. Fortunately, EVCS has been shoring up its network for the coming onslaught as we plan to more than double our network by the end of 2023. We recently raised almost $69 million to further our expansion into over 60 new West Coast cities while simultaneously increasing charger density in cities where we have existing infrastructure.

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We currently have 672 total chargers (241 of which are DCFCs) at 149 locations from Orange County, California to Custer, Washington near the Canadian border. In addition, these stations have been strategically positioned along prime travel routes and at key points of interest to accommodate cars and drivers of all types, from rural residents to urban dwellers; from Teslas to Bolts to Mustang Mach-Es; suitable for a quick jaunt to the grocery store or an interstate vacation. And our network only keeps growing as we continue to lead the West Coast in new installations.

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Our easy-to-use mobile app and industry-disrupting subscription model have also made it simpler for EV owners to power up while saving them hundreds or even thousands of dollars over pay-per-charge and gas alternatives. Our user interface features a cost comparison calculator that lets consumers quickly gauge the potential savings of a subscription; a find-a-charger function searchable by street, city or zip; and access to round-the-clock customer support to ensure a seamless charging experience.

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What’s more, as the number of EVs on the road increases, so will the number of drivers with varying schedules, budgets and other needs. That’s why we recently expanded our subscription options to include the following: 1) the Standard Anytime plan for $49.99 per month, providing up to 200 kWh of DC fast charging and a low flat rate of $.29/kWh after the cap is exceeded; 2) the Unlimited Off-Peak Pro plan for $99.99 a month, which offers unlimited fast charging between 10pm and 6am with a flat rate of $.29/kWh at all other times; and 3) the Unlimited Anytime Pro plan for $199.99 a month, with access to unlimited fast charging 24 hours a day, seven days a week.

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Bottom line – investment, innovation and persistence of vision is not only necessary in driving the manufacturing of new electric vehicles that appeal to the public, but also the infrastructure that powers them, and that is where EVCS is leading the way.

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Installation of the Month (June 2021): Hyatt Place Riverside/Downtown

The ability to travel is something many of us take for granted. Our Interstate Highway System allows us to freely traverse state boundaries – to go wherever we choose whenever we choose – from the snow-capped Colorado Rockies to the soupy Everglade swamplands to the historic lighthouses of coastal New England. However, EV drivers are more acutely aware of their travel limitations because many areas of the country have yet to adopt pro-electric infrastructure policies, often leaving them with few ground-travel options other than ICE vehicles. We knew getting more Americans to embrace the electric revolution would require buy-in from the hospitality industry. As such, much of our focus has gone toward hotels that, by serving as site hosts for charging stations, can help kickstart that ubiquitous access required to convert many EV holdouts.

Wall Street Journal Piece Brings Up Questions… And We Answer

Stephen Wilmot’s recent article in the Wall Street Journal, “Investors Look for an EV Charge,” debates the merits of investing in EV infrastructure, admitting that while chargers likely make for better investments than cars, the sector still holds many potential pitfalls that should be considered before jumping in. While that may be true, many of the examples backing up this assertion cite the business models of the largest EV installers in the country while failing to consider what less visible but faster-growing companies like EVCS are doing to mitigate such risks. Below are a few quotes from the article and our thoughts on them, including how we’re different.

Commentary on EV Industry Profitability Claims

In a recent Driving.ca article titled “EV-Charging Industry is Doing Everything Except Making Money,” author David R. Baker makes a compelling argument that the EV infrastructure sector is a revenue desert, essentially incapable of generating enough cash flow to sustain profitability due to a lack of interest from motorists. “The dilemma boils down to demand,” he states, before adding that “lots of people still driving gasoline-powered cars won’t consider going electric until they see charging stations widely deployed.”

Installation of the Month (May 2021): LADOT Lot 656

The Los Angeles Department of Transportation (LADOT) notes on its website that ICE vehicles are one of the city’s top contributors to air pollution, accounting for 19% of all greenhouse gas emissions, before proclaiming, “We can do better… We’re investing in public transit, testing new technology, and adopting mobility innovations for a cleaner environment and brighter future.” At first, it might just sound like flowery rhetoric, but we can personally attest to that commitment. Starting in 2019, LADOT partnered with us to install DCFCs at 57 city-owned lots, with almost 30% of those installations now completed. This alliance has been integral in promoting our goal of zero-emission mobility in the City of Angels by facilitating greater access to infrastructure.

Addressing Pain Points in Creating EV Infrastructure

A recent GovTech.com article titled “How Biden Plans to Build 500 EV Charging Stations” discusses the President’s goals for creating a nationwide network of 500,000 such installations by 2030. While it does a smart job laying out many of the pain points we face in facilitating EV adoption, the mention of solutions was far less prevalent, and ones that were mentioned seemed speculative or tenuous. However, over the last three years, EVCS has already taken the lead in addressing many of these challenge areas, allowing us to dominate the installation market across the West Coast.