The United States continues to expand its DC fast charging network, recording a 7.6% growth to almost 8,200 stations in the first quarter of the year. Notably, that rate equates to 1 DC fast charging station for every 15 gas stations in the country.
Charging infrastructure expansion
Despite the slower-than-expected adoption prompting electric automakers to scale back plans, charging infrastructure development remains progressive in the US.
Bloomberg Green’s analysis of federal data revealed that nearly 600 public DC fast-charging stations opened in Q1 2024. It represents a 7.6% growth compared to the end of 2023. It brought the total number of such stations to nearly 8,200 nationwide, which equates to 1 for every 15 gas stations.
According to the report, Tesla’s Superchargers account for slightly over one-quarter of the total DC fast-charging stations in the US.
Government initiative plays a crucial role
The Biden Administration’s National Electric Vehicle Infrastructure (NEVI) Formula Program played a significant role in the expansion of the DC fast charging network in the country in Q1 2024.
For context, it is a $5 billion program that aims to boost the number of charging stations in the country amid the shift to electric vehicles.
For instance, it helped launch a DC fast-charging station at the Kahului Park & Ride on Maui and outside the Hannaford Supermarket in Rockland, Maine.
BloombergNEF expects annual global public-charging revenue to reach $127 billion by the end of the decade, with Tesla contributing $7.4 billion of the total.
“We are getting closer to where a lot of these charging stations actually turn profitable. Now, you have a sort of line of sight and then obviously it makes sense to scale further.”
Philipp Kampshoff, McKinsey’s Center for Future Mobility Head
Retailers’ efforts
Apart from the US government’s NEVI program, retailers’ efforts to increase the appeal of charging infrastructures also contributed largely to the first-quarter infrastructure blitz.
They continue to develop charging stations that allow drivers to plug in their electric vehicles while taking breakfast or snacks from the nearest stores. According to the report, 10 charging stations opened at Buc-ee’s convenience store sites and another 9 stations at Wawas in Q1 2024.
The notable expansion in the US EV charging network in Q1 2024 is crucial for the government to address the stigma of a lack of charging. As noted by Union of Concerned Scientists Senior Vehicles Analyst Samantha Houston, “There tends to be a lag in when the charging infrastructure is out there and visible and when public perception catches up to it. In some areas of the country, it’s just not as easy to see.”
It is indeed great news for the country’s electric vehicle industry, potentially alleviating the long-standing range anxiety among drivers. It can also encourage more people to join the shift to green mobility.
