Following years of underwhelming growth in which companies delivering charging stations and equipment for electric vehicles saw similarly slow expansion of their user base. Now, however, new forecasts, such as those by Bloomberg New Energy Finance, predict a notable uptick in the adoption of electric vehicles, climbing to 28% and electric buses representing 84% of their respective markets by 2030 and sales of electric vehicles climbing from 1.1 million in 2017 to 30 million by 2030.

The effects of this forecasted rise is now showing signs in the market surrounding EVs with charging providers such as ChargePoint and EVBox announcing considerable investments in the expansion of their charging capacity. ChargePoint announced it would expand its current network of 54,000 charging spots with 2.5 million new spots by 2025 while EVBox aims to reach 1 million charging points globally by 2025. With the accelerated pace of EV adoption, the charging network now needs to expand far more rapidly to account for the required capacity with coverage and demand tough to predict, but the 20 million EVs ChargePoint expects to cover with its expanded network in Europe and North America a good start.

Meanwhile, other businesses are joining this effort by adding charging capacity to parking lots for supermarkets and shopping malls, such as Finnish supermarket chain K-Group which is installing charging points at its stores, aiming to install 400 charging points by the end of 2019.

BloombergNEF electric vehicle market forecast

Smart Cities Dive story on EV charging operators expansion targets

Finnish supermarket chain K-Group’s charging network (in Finnish) 

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