EV Charging Stations Are Proving To Be A Profitable Business, After All

09 Mar 2024 | Abstracted from Fortune

"Last year, the average utilization of a US fast-charging station not operated by Tesla Inc. doubled - from 9% in January to 18% in December...We're heading into 9% and 10% market penetration [for EVs]. Even if we stay at 8%, we're still not going to have enough charging...

"A charging station may not turn a profit until it’s in use about 15% of the time, but once utilization approaches 30%, the station is busy enough that drivers start to avoid it."

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