Increased Investment in Charging Infrastructure Could Combat Range Anxiety
Charging station manufacturer, EVBox is set to establish its first North American headquarters outside of Chicago while Blink Charging Co has been awarded a grant to deploy 200 Blink Fast Level 2 charging stations across the Mid Atlantic region including locations in Virginia, Maryland, West Virginia and Washington DC. In March, Iberdrola announced plans to accelerate plans for its own fast charging network in Spain while in February French utility EDF acquired a majority stake in Pod Point which operates over 69,000 charging points in the UK and Norway.
Although there is a growing market for electric vehicles, range anxiety still presents a significant barrier to their mass adoption. Wider availability of charging infrastructure will play an important role in combating this fear and governments are increasingly making charging infrastructure improvement a priority. In January, the UK government announced it would double the funding for the installation of charging points on residential streets to £10 million. China plans to add approximately 600,000 more charging stations funded by an infrastructure stimulus package announced in March and the European Union intends to have 1 million public charging points available by 2025.
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