Why do we need EV fast charging stations?
Despite the increasing number of electric vehicle (EV) manufacturers and government incentives, the adoption of electric vehicles has not yet skyrocketed. One reason for this may be the longer charging time compared to filling up a traditional car with gasoline. However, experts believe that advancements in fast charging technology with improved sustainability and lower costs will be a major driver for the proliferation of EV fast charging stations, which in turn will drive the growth of the electric vehicle market. As a result, there is a lot of research and development happening in this field, with various companies and organizations introducing their own fast charging methods, some of which can charge a vehicle in as little as 10 minutes.
It is becoming increasingly apparent that fast charging is crucial for increasing consumer interest in electric vehicles and making them more suitable for long-distance travel. Recently, we have seen many electric vehicle manufacturers team up with charging companies and government organizations to create comprehensive charging infrastructure in cities. For example, Volkswagen AG and its energy brand, Elli, have achieved a significant milestone by building 400,000 charging points and operating the largest charging network in Europe, spanning 27 countries and over 800 providers [1]. The manufacturer plans to expand this network by incorporating Audi’s charging technology into its portfolio this year.
This article will explore the need for faster electric vehicle charging stations and the financial investments required to improve power infrastructure. We will also examine two potential solutions that key stakeholders can consider to achieve their goal of increasing electric vehicle adoption in the next decade. Lastly, we will explore how a collaborative approach can transform how EV charging companies operate and accelerate the deployment of charging points.
What is the need for EV fast charging stations?
As previously discussed, there is a pressing need for faster EV charging that can be attributed to technological advancement and cost reduction. Slow charging stations have been a major deterrent for consumers to purchase electric vehicles. Additionally, the availability and accessibility of charging stations and networks in cities also play a role. The automotive industry needs to understand that consumers are used to the convenience and speed of fueling a gasoline car and expect a similar experience with electric vehicles. The transition from a gasoline car mindset to an “electric vehicle thinking” mindset will require significant effort and overcoming many challenges.
Interestingly, electric vehicle manufacturers have come to realize that developing charging station networks is critical for their success. With a sufficient number of charging stations around cities and the country, manufacturers can expect to see a significant increase in sales. According to a report from McKinsey, Europe had an estimated 375,000 charging stations in 2021. But a study by the European Automobile Manufacturers’ Association suggests that, even in a conservative scenario, the EU-27 will require at least 3.4 million operational public charging points by 2030.
Creating the infrastructure to install new charging points, upgrade power grids, and increase renewable energy generation capacity is a costly undertaking. Reports indicate that a significant portion of the funds allocated will go towards planning, engineering, and installing new public and private charging points. Many current electric vehicle owners are wealthy individuals who own their own homes, have to pay for the hardware and installation of private charging points, and rely on government subsidies to offset costs.
There are suggestions from the industry with two potential infrastructure development pathways–
- The first suggestion is to analyze the usage of charging points and build them according to current usage growth rates. This would be a carefully planned approach to roll out sufficient charging points to establish a robust public charging infrastructure.
- Another approach is to adopt an ambitious plan that focuses on driving demand for electric vehicles. This strategy involves building a large number of charging points and networks to significantly increase EV adoption.
“If auto manufacturers and automotive suppliers can create vehicles capable of charging more quickly than today’s can, they could reduce the number of public chargers needed,” McKinsey report states.
How are companies trying to eliminate the cost of power infrastructure?
Blink Charging, an American manufacturer and provider of electric vehicle charging equipment and services, has partnered with EdgeEnergy to offer superfast EV charging without needing costly power infrastructure upgrades [3]. As part of the partnership, EdgeEnergy will incorporate its proprietary power source, the EdgeEV, which converts single-phase power into three-phase power for electric vehicle DC fast chargers. The collaboration recognizes that the demand for fast EV chargers has deployment challenges related to grid constraints and power infrastructure. EdgeEnergy’s solution allows Blink to deploy superfast EV chargers at a lower cost and faster time frame than traditional grid upgrades.
“We are excited to continue to expand our relationship with Blink Charging, one of America’s leading EV-charging companies,” said Greg York, the founder, and CEO of EdgeEnergy. “The need to provide reliable ultra-fast charging in areas without 3-phase power infrastructure continues to grow. Our relationship with Blink offers enormous business for both our companies and serves a critical and growing need for Blink’s customers.”
Blink Charging has partnered with Vizient, a healthcare performance improvement company, to deploy charging stations for Vizient members. This partnership allows for flexibility to meet consumer demands through Blink’s “Blink-as-a-Service” model. It provides access to fast-charging technology with various charger configurations, including single and multiple cord pedestals, individual and paired wall-mount chargers, DC fast, multi-family charging stations, and a cloud-based tool that manages the EV chargers and charging data.
“We are thrilled to have been selected by Vizient and be a valuable resource for its membership to provide access to Blink EV fast charging stations and services,” said Michael D. Farkas, Chairman and Chief Executive Officer of Blink Charging. “Accessing the Blink network of EV chargers will provide valuable charging solutions for Vizient members, and we look forward to assisting them and providing the best in EV charging services.”
References
[1] Volkswagen AG. “Volkswagen AG creates the largest charging network in Europe with Elli.” volkswagenag.com. https://www.volkswagenag.com/en/news/2022/12/volkswagen-ag-creates-the-largest-charging-network-in-europe-wit.html (accessed Jan. 28, 2023)
[2] Julian Conzade, Florian Nägele, Swarna Ramanathan, and Patrick Schaufuss, “Europe’s EV opportunity—and the charging infrastructure needed to meet it,” McKinsey & Company, Automotive & Assembly Practice, October 2022.
[3] Blink Charging Co. “Blink Charging and EdgeEnergy Collaborate on Delivering Ultra-Fast EV Charging Without Costly Power Infrastructure Upgrades.” blinkcharging.com. https://blinkcharging.com/news/blink-charging-and-edgeenergy-collaborate-on-delivering-ultra-fast-ev-charging-without-costly-power-infrastructure-upgrades/ (accessed Jan. 28, 2023)
[4] Blink Charging Co. “Blink Charging Enters National Supplier Agreement with Vizient for Deployment of EV Charging Stations and Services.” blinkcharging.com. https://blinkcharging.com/news/blink-charging-enters-national-supplier-agreement-with-vizient-for-deployment-of-ev-charging-stations-and-services/ (accessed Jan. 28, 2023)
