Gold Rush

October 23, 2023

That’s how EVAdoption describes the state of the EV charging industry, which is “one of the single biggest new market opportunities in 100 years”. EVAdoption provides analyses and forecasts to the EV sector.

In a May 30, 2023 publication, Loren McDonald, EVAdoption’s CEO wrote that at the end of 2022, with 16 EVs to every Level 2 and DC Fast charger, “the US would need roughly 2.8M public chargers at the end of 2030 … 22 times the number of installed public chargers.”

We can’t see the EV charging industry meeting such demand if it stands at only 127,000 chargers. That may explain the frenzy in acquisitions of smaller charging companies by the listed major companies such as ABB, Shell, ChargePoint, EVGo, and Blink Charging. EVAdoption reports that there were 16 acquisitions in the industry from January 2022 to August 2023. Can’t wait to get our PowerPac into production! That’s where ARROW Electronics comes in. Stay tuned.

Get ahead of the Gold Rush.

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