Las Vegas, Kansas City, Raleigh, Denver and Miami. Slowly, EV sightings are taking place most everywhere.
There is one other thing that EV’s all have in common. They need to be recharged. Even the most durable model, the Chevy Volt can only run 420 miles without some recharging. For most of the 10 top selling EV’s, 100 miles on a charge is about the average.
When you buy or lease an EV the standard package offers the 110 Volt home plug in recharger. This method takes about 16 hours to bring on a 100% dose of juice. It takes less than 2 hours to drive 100 miles so this creates a real bummer, slowing the appeal of EV’s
A second choice is a $400-$600 option that brings 240 Volts of jolt into your garage. That reduces the waiting time to 4 hours. That’s a big improvement but you have to get an electrician involved and that complicates things.
Elon Musk came up with one very good answer. He created recharging stations and located them near places like shopping malls. By converting AC power to DC, Tesla vehicles can be brought to 80% capacity in less time than it takes for a mannie-peddie (guys think a quick trip to Best Buy). We are talking only about 30 minutes. That’s great but what if you don’t own a Tesla?
There is another solution that has been quietly evolving over time. Enter ChargePoint, high speed recharges for the EV masses. The company is private having been founded nearly 10 years ago. Unless you drive one of the non-Tesla vehicles, and live in San Francisco, LA or San Diego chances are you never heard of the company.
Here is what they claim: the largest collection of EV recharging stations in the US with over 33,250 in 13 states. All stations are fast AC to DC units that can get you back on the road within 30 minutes. Unlike Tesla, ChargePoint stations are capable of juicing up any type of EV.
The list of ChargePoint partners supports the notion that this company has a chance at success. They include Schneider Electric, Leviton, BMW, Fuji Electric and Nissan.
The product line extends into single and multifamily residential markets where the company claims it has a 110 Volt juice box that is 6 times faster than the average home charger. If true, this would bring the recharge time down to less than 4 hours and without the need for an electrician.
There are other companies in this business but it appears most are in segments like electricity conversion hardware and the like. We looked but could not find any with the size depth and number of stations that ChargePoint claims.
From the start we mentioned the company was privately owned so unless you know someone that owns a piece and who is willing to part with a piece, we can only stand back and watch. Eventually, this is a natural for a public offering and when that day happens, be ready. This is a business where the cash will flow as freely as the electricity.
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