$2.7 trillion to provide enough charging stations for electric vehicles

According to financial services firm Morgan Stanley, the cost of fully deploying electric vehicle charging stations globally is $2.7 trillion. And that’s enough charging stations for 500 million cars.

This is really a lucrative pie, so big companies want to get a piece of it.

The number 500 million vehicles seems a lot, but if you consider the more than 1 billion vehicles, including cars and trucks currently in circulation, the above number is actually not too large.

One of the barriers to the popularity of electric cars is infrastructure, most directly charging stations. This is the first motivation when people think about buying electric cars.

Without charging stations in the city, or more importantly, if you want to travel on the highway without any charging stations, no one wants to buy an electric car.

Estimates suggest it will cost the world up to $2.7 trillion to build charging stations for 500 million electric cars. Photo: The National

So far, building an infrastructure network to support electric cars may be too much for any government, so many experts say public-private partnerships are needed to invest.

In the US, Tesla has spent a significant amount of money to build its charging stations, while the US government has also pledged to build a series of other charging stations across the country.

BHPetrol electric vehicle charging station - Photo: Drive Safe and Fast

However, with such a large amount of money to invest, perhaps in the not too distant future, we will continue to witness the emergence of better ideas or solutions to reduce investment costs.

And any country considering promoting car electrification must think about how to solve this problem.

According to TTO