Are Public EV Charging Networks Making Money Yet?
So how is ChargerHelp issues related to Malaysia and are they making money?
The electric vehicle (EV) industry has undergone a dramatic transformation, with global EV sales increasing by approximately 233 percent over the past five years, according to the International Energy Agency (IEA). The United States has experienced a 52 percent surge in EV sales in 2023, as reported by S&P Global.
Despite this growth, the supporting infrastructure, particularly public EV chargers, is struggling to keep up. A 2023 survey revealed that over half of Americans are reluctant to purchase EVs, with 80 percent citing insufficient charging infrastructure as a major deterrent. Additionally, existing chargers often fail, with 20 percent of charging attempts at public stations unsuccessful.
Moreover, ChargerHelp, a leading provider of Electric Vehicle Supply Equipment (EVSE) maintenance, has released the ChargerHelp Annual Reliability Report. The State of EV Charging and the Driver Experience, published in June 2024. This comprehensive analysis addresses the reliability issues plaguing EV chargers.
The report, endorsed by Professor Gil Tal from the UC Davis Electric Vehicle Research Center, draws on data from five sources, two sets from ChargerHelp’s operations, third-party data from Paren, Inc., and public data from the U.S. Department of Energy’s Alternative Fuels Data Center (AFDC), totaling over 19 million data points.
On top of that, the report uncovers several key issues, specifically how actual charger uptime is often lower than reported, as software frequently overestimates functionality, undermining driver confidence and how many problem stations require multiple repairs, affecting overall reliability. Standardised reliability metrics are essential for improvement.
So how is this related to Malaysia? Well, we see a trend in the West these days whereby EV sales are down and there are many EVs collecting dust just sitting in warehouses without any prospect of being sold but since Malaysia is very far behind the West, we are only at the early stages where EV sales are going up as it did in the West a few years ago.
However, we still also face the issue of not having enough charging infrastructure to keep up with demand so this research and ChargerHelp will likely be able to assist the Government in installing more EV chargers in the country making long distance EV travel more feasible. This definitely means they will take a big chunk of the profits too.
We got all this from GRN and their full article is linked here. Thank you GRN for the information and images.
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