$2.7 trillion to cover enough charging stations for electric vehicles

According to financial services firm Morgan Stanley, the cost of fully covering the entire world with charging stations for electric cars is $2.7 trillion. And that number of charging stations is enough for 500 million cars.

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

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

One of the barriers to the popularity of electric cars is infrastructure, most directly the 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 had to spend a large amount of money to build its charging stations, while the US government has also committed to building a series of other charging stations across the country.

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

However, with such a large amount of money being invested, it is likely that in the near future we will continue to see the emergence of better ideas or solutions to reduce investment costs.

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

According to TTO