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.

“Charging-related companies should benefit from EV adoption, whichever vehicles dominate.”

This is true so long as charging companies offer the most convenient and current technology available. Our chargers feature both CHAdeMO and combo SAE J1772 / CCS1 connectors that can work with every EV on the road. Moreover, the majority of our new installations are DC fast chargers, complete with 50kW power, 6000 VAC surge protection and a better than 90% efficiency rating. While chargers may be a better overall bet than cars, they are not all created equal. Quality matters, and the best chargers will win out.

“Which companies are better placed: those that sell charging equipment or those that build and operate networks?”

The prevailing notion is that infrastructure companies need to conform to preexisting business models established by the “big boys,” but what has set us apart is our disdain for such conformity. Our turnkey approach includes sourcing and installing hardware as well as operating our own proprietary network, allowing us total control over the customer experience front to back. And by customers, we mean both site hosts and EV drivers. We also source funding for installations from government subsidies, often resulting in zero cost to the site host and negating the need to “sell.”

“Most EV charging is done at home, but that could change as US ownership broadens beyond Californians with garages.”

There are two salient points to note here. First, EV ownership will invariably broaden beyond California. And as that state’s fastest growing installer, we are well-positioned to carry such momentum to other states as the federal government invests more in infrastructure. Second, EV ownership will continue to broaden beyond homeowners. With more infrastructure at public places and apartment buildings, EV ownership will begin to feel more accessible to all and less like a luxury or novelty. Our model capitalizes on this trend.

“A double-digit return depends on the pace of EV adoption and the wisdom with which the company picks sites.”

We don’t “pick sites.” Our clients do. When a retail business, municipality or multi-unit dwelling reaches out to us, it’s because they see a demand, a need, an opportunity. Further, many of these properties are located in underserved communities that might not boast the level of traffic needed to attract larger installers, but nonetheless feature huge growth potential, positioning us to capture a new demographic as EVs become more prevalent. We simply offer a no-cost solution to sites that already understand the value of EV charging – whether that’s satisfying existing customers, driving a new income stream or protecting the environment – wherever they may be. Good financial returns, then, result from identifying clients’ needs and addressing them.

Wilmot’s entire Wall Street Journal article can be found here: https://www.wsj.com/articles/how-to-plug-into-electric-vehicle-chargers-11620032526

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Installation of the Month (February 2021): Hollywood & Highland

In the movie Spider-man, Uncle Ben tells Peter Parker, “With great power comes great responsibility.” The phrase, which came to be known as the “Peter Parker Principle,” is just as true today as it was 20 years ago when the movie first premiered. And just as Peter took seriously his newfound powers, we take seriously our responsibility to facilitate broader access to vehicle electrification options – quite literally the “great power” here is the electricity that keeps EVs moving. We also understand the power of movies and television to convey the importance of electric mobility, be it through information, entertainment or influence marketing. As such, Hollywood has become a tremendous partner in advancing the EVCS mission.

Installation of the Month (January 2021): Barlow Respiratory Hospital

While 2021 brings hope and promise for greater widespread adoption of electric mobility, a quick glance at our portfolio reminds us of all the headway we’ve already made toward that end. Last year, we seized on positive customer sentiment and abundant fiscal opportunities in the green energy space, allowing us to become one of the top installers of EV charging infrastructure in the State of California (with 500+ installations completed and counting). As such, we thought it might be worthwhile to share some of these installations with you – a new success story each month – so that you can see firsthand the favorable strides we’re making toward a carbon-neutral future.

2020: A Year in Review

Two thousand twenty has been a year of undeniable adversity, but also one of remarkable achievement. A year of firsts and hopefully a few lasts. A time of toil and tribulation, but also of triumph. For genuine success is partly defined by our ability to hurdle those implacable obstacles that make the result so noteworthy in the first place. Now, as the EVCS team looks back on this unusual year, we take stock of our unique achievements that made 2020 one for the books.

Electrification Progress in the Age of COVID

It’s pretty clear that vaccine or no, COVID will be here for a while, and with it the new normal of face masks, social distancing, telecommuting and (consequently) less road travel. While some might view this with trepidation, we see it as an opportunity. Since the earliest weeks of the pandemic, major metro areas like Los Angeles, Seattle and Chicago – those with large reductions in automobile traffic – immediately began seeing improvements in air quality, according to articles in the New York Times and Washington Post. More recent, an NPR story noted ozone pollution has decreased as much as 15% in many of these places. It seems an unintended consequence of the lockdown has been to accelerate the transition to responsible mobility by demonstrating its positive effects on the environment.

Commentary on Geotab’s 2020 EV Fleet Trends Article – Part II

Two weeks ago, we published part one of our commentary on Geotab’s in-depth article, “Electric Vehicle Trends 2020: Top 6 Factors Impacting Fleet Electrification” (https://www.geotab.com/white-paper/electric-vehicle-trends/). Again, the idea was to assess whether each of the trends were evolving as Geotab predicted and, if so, how EVCS was responding to them in the marketplace. Below are the final three trends referenced and our thoughts on each.