Infrastructure and mobility policies around the world are working to encourage EV adoption as a way to reduce emissions and combat climate change. As the number of electric vehicles on the road grows, so does the need for adequate and convenient charging infrastructure. This presents an exciting investment opportunity for those looking to capitalize on the growth of the EV market.
Investing in companies that manufacture and operate electrical vehicle charging stations is a smart long-term investment strategy. With more people switching to electric vehicles, the demand for EV charging stations is only going to increase in the coming years. According to a report by BloombergNEF, EV sales will make up 30% of new passenger vehicle sales in 2026 vs. 14% in 2022.
This makes this year, 2024, an especially important year to invest in EV charging technology. Forecourts, hotels, parking lots, office buildings, and other businesses that decide to invest now will be ready for the constantly growing number of EVs on the road.
When deciding on which kind of EV charging technology to invest in, it is important to consider EV drivers’ pains and preferences. While lack of infrastructure is one of the biggest impediments EV drivers face, a convenient payment experience is another. Reducing range anxiety by installing more EV charging stations in both urban and rural areas is just one side of the equation; charge point operators also need to ensure that their customers can easily pay for EV charging.
It is common for EV companies to require drivers to sign up for their service, get a membership, and often download an app. While apps often provide essential information and services such as where to find a charging station nearby, forcing drivers to download them in order to pay for charging which can be frustrating for them, especially when they’re on the road. This is why an open payment system is essential. Payment systems for EV chargers such as Nayax enable drivers to pay how they like, whether it be via their favorite EV charging app or just via credit card. This choice makes it easier for EV drivers to navigate the system, to charge their vehicle at any charger, whether it’s the same one every day or just the closest one they find on their way to their destination.
In order to stay ahead of the curve and to ensure that your business is EV ready, you need to invest in EV charging technology with open cashless payments. Whether you run a hotel, restaurant, parking lot, manage a facility, or are simply interested in starting an EV charging business, 2024 is the year you should invest. To learn more about how to become a charge point operator, read our guide here. If you’re ready to invest, contact us here for a free consultation.