The current presidential vision of half of all new cars sold in 2030 being electric has one roadblock standing in its way: enough chargers to plug all of those vehicles into. Currently, the U.S. has about 110,000 public chargers – the equivalent of gas stations for ICE. Unfortunately, EV experts are estimating the need for 5 -10 times this amount to properly run an EV charging instruction for that many vehicles.

Building this many chargers would cost way more than the proposed 7.5 billion lawmakers have put aside for the EV infrastructure. Private traders are starting to invest billions into building these chargers, however, the overall EV business is suffering from the chicken-and-egg problem.

Another factor to consider is that the U.S. is falling farther and farther behind Europe and China. If we wait a few more years to be in a better position before pushing forward, we could be too far behind to catch up. Why should this concern us? By the time we catch up Europe and China will own the electric vehicle market, specifically for larger vehicles needed to transport goods.

The originally posted article goes into great detail and offers an in-depth projection of the next 10-20 years.

Click here to read the full article originally posted on September 7, 2021 on Cleerly.