Investments in a publicly accessible EV charging infrastructure in the US has surged, with prominent companies committing significant funds to meet growing demand. The report “Investment in publicly accessible EV charging in the United States” by Atlas Public policy, available in our database, reveals Tesla's dominant position, with nearly 18,000 fast charging ports and 13,000 Level 2 ports in 38 states. In February 2023, Tesla announced plans to open 7,500 charging ports to all EVs by the end of 2024.

Electrify America, a subsidiary of Volkswagen Group, is the second-largest investor. With over 4,000 fast charging ports at 823 locations in 38 states, it was established through the $2 billion Volkswagen Settlement. Recently, Electrify America raised $450 million from Volkswagen Group and Siemens Financial Services, enhancing their capital for further expansion.

ChargePoint, the largest charging provider in the US, operates over 50,000 stations focusing on Level 2 charging. Following a successful IPO, ChargePoint raised nearly $500 million, with a substantial portion allocated to charging deployment. They rely on customers owning equipment and paying network access fees while leveraging utility and government funding for cost-offsets. ChargePoint aims to invest over $1 billion in publicly accessible charging.

EVgo and TeraWatt Infrastructure are notable EV service providers securing significant private investments for public charging infrastructure. EVgo, an experienced player, and TeraWatt Infrastructure, a newcomer, highlight their commitment to large-scale EV charging initiatives with substantial funding.

General Motors (GM) pledged $750 million in 2021 to expand access to charging infrastructure. GM partnered with Pilot Company and EVgo to deploy DC fast charging at 500 locations, resulting in 2,000 charging ports. Their collaboration with dealers aims to install 40,000 community charging ports and deploy 3,250 fast charging ports through EVgo.

Private investment in publicly accessible EV charging in the US reached nearly $13 billion by March 2023. This excludes site hosts' cost-share investments and companies without publicly available investment information.

Source: Investment in publicly accessible ev charging in the United States | Atlas Public Policy