SAN FRANCISCO, March 18, 2024 /PRNewswire/ -- The Biden administration announced a $623 million package in January 2024 to increase the nation's electric vehicle (EV) charging infrastructure. The money gleaned from the bipartisan infrastructure law will provide 7,500 new charging stations, including rapid chargers and hydrogen fuel chargers.
It's the latest progress in the administration's pledge to increase the number of U.S. public chargers to 500,000. Meanwhile, more people are buying EVs, with electrics hitting a record market share of 8.5% of all new vehicles leased or sold last year. But obstacles to electrification remain.
Targeting Key EV Adoption Sticking Points
Range anxiety is the leading issue, with 43% of people believing their chance of requiring roadside assistance would be higher with an EV due to a lack of chargers. According to Loren McDonald, founder of EV data consultancy EVAdoption, "the private charging networks typically are not deploying…at any significant level in disadvantaged communities because it doesn't make financial sense."
That's why the Biden administration's investment hopes to place more than 70% of new charging stations in these communities. This is the most significant hurdle to electrifying the nation's highways. A CNBC study revealed that 80% of the public cited a lack of charging points as the primary reason why they wouldn't purchase an EV.
Another barrier to electrification is concerns over cost. Although EV costs have dropped over the past decade, people remain apprehensive about the cost of EVs vs. traditional internal combustion engines. In addition to sticker price, EV insurance costs are often higher. Still, taking a total cost of ownership view means an EV is considerably cheaper over the vehicle's lifetime.
But the truth is, achieving mass adoption may require a complete rethink of the nation's charging infrastructure that goes beyond quantity. Lack of interoperability among charging stations is another issue, with EV drivers often requiring four different charging apps to make sure they can recharge.
But there is a better way.
Bluedot, a payments and rewards platform for EV drivers, offers a simpler charging experience. With a single, intuitive app, Bluedot users can charge and pay at over 70% of U.S. charging stations. They can also check charger availability in real-time and last use, inferring reliability from activity and increasing network confidence. And instead of the sticker shock EV drivers suffer at many chargers, they can count on a competitive flat rate with Bluedot.
For more information, please visit https://www.thebluedot.co or [email protected]
SOURCE Bluedot
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