Report: EV Charging Stations Set to Outnumber Gas Stations By Decade's End
One of the most significant worries from potential EV buyers is that there aren’t enough chargers to keep all the vehicles powered and on the road. A recent report from Bloomberg suggests those worries might become a thing of the past, however, with chargers expected to overtake gas stations within the next eight years.
The study found that “charging deserts,” where there are few to no charging stations, are rapidly disappearing. Networks added 704 new charging stations in the earlier in 2024, bringing the total to nearly 9,000 fast charging sites.
That rate sets EV chargers on a stronger growth trajectory than gas stations, but the growth of new sites is expected to accelerate, which could move the eight-year timeframe up. Spending is expected to surpass $6 billion this year and is projected to double by 2030, driven by stronger consumer demand.
The fast growth has been fueled by significant government investments, with billions pumped into the industry to spur vehicle development, create new manufacturing capacity, and build chargers. Private businesses are also riding the wave, with banks and other companies installing chargers at locations across the country.
This is all good news for EV owners, as the charging situation in the U.S. is hit or miss, depending on where you are. More charging options and more reliable chargers overall will make EV ownership more realistic for more people and will do a lot to dispel some of the worries about how and where to charge.
[Images: Tada Images via Shutterstock and Tesla]
Become a TTAC insider. Get the latest news, features, TTAC takes, and everything else that gets to the truth about cars first by subscribing to our newsletter.
Chris grew up in, under, and around cars, but took the long way around to becoming an automotive writer. After a career in technology consulting and a trip through business school, Chris began writing about the automotive industry as a way to reconnect with his passion and get behind the wheel of a new car every week. He focuses on taking complex industry stories and making them digestible by any reader. Just don’t expect him to stay away from high-mileage Porsches.
More by Chris Teague
Comments
Join the conversation