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Electric Car Battery Charger – Introduction, Stocks and Price
The world of electric vehicles is, without a doubt taking over the world. Many countries are producing these vehicles because they know the value of this car.
In some parts of the world, it’s only EVs allowed to drive around cities. These cars are used to ensure cleaner air in every place they are driven in.
But to drive these cars, you need a good battery. Electric car batteries are the most expensive parts of the vehicle.
Also, they are the components that make the cars heavier than normal. Some batteries weigh more than a small gasoline-fueled car.
And with such batteries, you need the right charger to ensure it gets enough power to drive your car. An electric car battery charger is like a charging station for those who use fuel cars.
This guide will discuss what it takes to put up an EV battery charging station. We will also be looking at electric car battery stocks, which are becoming a popular thing today.
The Electric Car Battery Station
A charging station, an electric recharging point, is a marching that supplies electric energy to recharge electric vehicles. The station can charge anything from cars, neighborhood EVs, trucks, buses, and many other vehicles of this kind.
Some vehicles come with converters that can be plugged into a high voltage outlet. Some use custom charging stations based on how they are designed.
?A charging station offers connectors that fit into a wide range of standards. Chargers are equipped with multiple adaptors like a Combined Charging System and AC fast charging to provide rapid charging.
You can always charge your car at home if you have the right equipment. Or you can go to public charging stations, which are found on street-sides or at a retail shop and parking areas.
Electric Car Battery Charging Station Standards
Like any other product used for public consumption, there must be standards that assure quality and functionality. Multiple standards have been developed for the electric car battery charging stations to ensure they operate well under different vendors.
There are standards for Tesla, which are used as guidelines in different areas. Every car has standards they must meet to use a specified charging station.
How to Set up EV Charging Stations
In many countries across the globe, individuals are free to set up an electric charging station. But the station has to meet the required standards.
There are minimum requirements one must meet to set up these stations. Also, you will need to find the right vendor and set the station in a good enough location for business.
Besides, you will find different kinds of EV chargers on the market. Level 1 chargers are the basic ones. They are slow charging and takes longer to get a full charge.
Level 2 EV chargers are better. But they are still slower and may not be the best for business. Perhaps you could have such chargers for home use.
If you are serious about the business, consider buying Level 3 chargers. They are the most popular type. The chargers use DC and come with a fast-charging speed. Since most motorists are always in a hurry to get to their destinations, fast charging chargers are the best.
Here are steps for setting up such a charging station:
Understand what it takes to invest in an EV charging station. There are benefits and downsides of the investment, all of which must be set clear. Find out if it’s worth it to invest in the station.
Government policies. This is a project that requires one to follow all the guidelines set in place by the government.
Cost for setting up the station. Like any other business, you need to come up with a reasonable budget. This should include the cost of equipment and hiring staff if there is a need for one. Other costs include; charger cost, electricity and software, human resources and maintenance, and advertising costs.
Infrastructure. What infrastructure setup do you need? What are the requirements, and how do you get them?
Business model. You will need to generate revenue from the station. That means coming up with a good business model.
Should you invest in an EV charging station?
This depends on the region you are setting up the station in. In most cities, the government requires EV charging stations at every 3 km. On highways, the stations are supposed to be at least 25kms apart. For heavy-duty vehicles, charging stations should be at every 100Kms on either side of the road.
Once you have established the cost of setting up and what you will need, you should decide whether or not to invest. Generally, it’s a good business with great returns.
Electric Car Battery Charger Stocks
Electric vehicle manufacturing has received focus over the past several years. Automakers like GM motors, Ford, and Volkswagen are taking the game higher. Their EV offerings are aimed to help them, and other start-ups compete with market giant Tesla.
As the transportation industry keeps expanding, electrified vehicles come with batteries that need constant recharging. Hence, this could be the best time for investors to buy shares in companies linked with this technology.
If you decide to buy EV battery charger stocks, consider these two factors:
There is a need for infrastructure. Tesla has been building a charging network for its cars across the globe. However, there is a need for more charging stations. Beyond the US, more than 2M passenger EVs were sold in 2020. This figure is expected to go up four times by 2025. And this shows the stocks can only get better.
A basket approaches. There are different niches in the EV charging industry today. Some companies focus on fleet charging, while others go for fast charging. This only shows there is great potential in this industry.
In a nutshell, it would be a great idea to buy EV battery charger stock today. The more EVs are produced, the more charging will be required.
Electric Car Battery Charger Price
The cost of an electric car charger depends on the type and the features. Fast chargers are more expensive than Level- 1 charger. You can get the price on different vendor platforms.
What do you think about EV batteries? Let us know by leaving a comment below.