Manufacturers are starting to play their part, recognizing that infrastructure, or a lack thereof, is slowing EV adoption. Mercedes-Benz announced last week the roll-out of a self-branded, 10,000-strong global charging network that will start in America this year, and VW’s subsidiary, Electrify America, is planning to add 6,500 chargers to its existing network by 2025.
S&P’s research suggests that 2022 was a good year for EV charger roll-out, and at present, there are roughly 126,500 Level 2, 20,431 Level 3 (DC fast-charging), and 16,822 Tesla chargers. In 2022 alone, around 54,000 Level 2 and 10,000 Level 3 chargers were added to America’s EV infrastructure. Contrarily, there are more than 145,000 gas stations with multiple pumps, all of which take just a few minutes to refuel.
But that network caters to only 1.9 million EVs currently in operation (as of October 2022), making up 0.7% of vehicles on American roads. S&P forecasts that by 2030, that percentage will swell to 40% or roughly 28.3 million EVs.