Ramping up the production of battery electric vehicles is not the only factor affecting their adoption. Charging infrastructure is often seen as a barrier to adoption, especially for drivers in urban areas who are less likely to be able to charge at home. Yet the rollout of public EV chargers is exactly what is happening, with the number of connectors worldwide growing 46% in 2023 alone to over 4 million. One million of these are ultra-fast chargers, delivering over 100kW to bring an almost empty EV back up to a nearly full charge in a matter of minutes, adding hundreds of kilometers of range. The fastest chargers today are rated up to 400kW, with EV batteries typically having a capacity of 40-100kWh. Alongside rolling out infrastructure, its integration in terms of software and payment is continually improving, supported by standards such as ISO 15118 Plug and Charge.
Source BloombergNEF, Ecco Movement, EVCIPA, KECO, Tesla. EVgogo, April 2024.