EV charging gets a massive boost

It's getting easier to find a charger for your electric car.

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TODAY’S STORY

The electric vehicle (EV) chicken-and-egg dilemma is finally starting to ease.

  • People won’t buy EVs if they can’t find a place to charge them.

  • Companies won’t invest in charging infrastructure without enough EVs on the road.

There are now more than 270,000 publicly available EV charging ports, up from 95,000 in Jan. 2021. Additionally, drivers in 61% of the most heavily tracked corridors can now access a charger every 50 miles, up from 38% in 2021.

As charging infrastructure improves, so will EV sales. In 2024, full-year EV sales reached 1.3 million, a 7.3% increase over 2023.

The other good news is that there’s still plenty of room for U.S. growth. Only 8.1% of new cars sold in the U.S. in 2024 were EVs. But, for EVs to be widely adopted, they still need to become significantly cheaper, as current prices are still a significant barrier.

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Kieran & Justin Ryan