The increase reflects efforts to build critical infrastructure ahead of an expected boom in EV sales, which accounted for just 1% of global car stock last year, according to the IEA.
While most EV charging takes place at home or at work, the rollout of public infrastructure is key to convincing prospective buyers that there is no risk of them getting stranded on an empty battery.
As part of its economic stimulus plan, Germany announced earlier this month that it would provide 500 million euros ($563 million) to support the rollout of private charge points, of which there are 6.5 million worldwide.
- “I view this as an organic step in the right direction, but not a revolution with big winners or losers,” said Thomas Daiber, founder of e-mobility advisory firm Cosmic Cat, of the German plan.
As well as Tesla, charge point providers include Anglo-Dutch group Shell (RDSa.L), France’s Engie (ENGIE.PA), Germany’s E.ON (EONGn.DE), Volkswagen (VOWG_p.DE) and ChargePoint, whose shareholders include Daimler (DAIGn.DE), BMW (BMWG.DE) and Siemens (SIEGn.DE).
