Vehicle charging stations search for a business model that will serve EV owners

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A Next 10 report shows electric vehicle charging stations still struggle to make a profit while EV owners say they’ll pay more for speedier access and proximity to services they can use.

Electric car chargers in the parking lot of Vons on Adams Avenue on Sept 13, 2024, in San Diego, Calif.

“We already know that the next generation of EV owners want more public chargers,” said Next 10 founder Noel Perry. “This report shows that building chargers where people are and where they want to be, especially for longer trips, is what’s best for both California drivers and charging station investors.”Gas stations tend to be stand-alone businesses, though they’re unlikely to sell only gas.

The Next 10 report found that most EV owners charged their cars at home. But public chargers were more likely to be used if they were within 500 meters of a restaurant or grocery store. EV owners said they’ll pay more for speedier access to chargers and proximity to services they can use. Jenn said nearly all public chargers today benefit from some government subsidy, and they are a long way from being able to operate without one.

 

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