In August 2021, President Joe Biden signed an Executive Order setting a target that 50% of all vehicles sold in the US will be net-zero emitters of greenhouse gases by 2030. While US electric vehicle (EV) sales rose in the last decade, the number of EV charging stations would need to increase to meet the growing demand.
There are currently more than 56,000 EV charging stations with about 148,000 charging ports across the country. While this is enough to sustain the current number of registered EVs, the US would need to roughly triple installations rates over the next eight years to support the anticipated number of EVs on the road by 2030.
The market for EV charging stations is spread out between about 30 private companies, though more than two-thirds of this market are controlled by three of them.
