Business

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Business Opportunities from Electric Car Expansion

Geoff Riley

31st July 2017

Whilst much media attention on the surge in demand for electric vehicles has focused on the likes of Tesla Motors, Nissan and Volkswagen, there are numerous businesses looking to take advantage. Consider Pod Point!

Erik Fairbairn is founder and CEO of electric vehicle charging network Pod Point and he believes that the rapid expansion of electric cars will provide significant commercial opportunities for businesses. 

As a rough rule of thumb he estimates that for every electric car that gets sold there will be demand for one and a half charging points including those at home and at service stations, workplaces, hotels, retail estates - indeed anywhere and everywhere throughout the network.

According to Pod Point, there are three key factors holding back mass adoption of electric vehicles:

  1. Range anxiety - improved battery technology will help move this forward
  2. Purchase price of EV - average prices are set to fall as the scale of production expands
  3. EV charging infrastructure - this is piecemeal at the moment, electric vehicle owners complain that at present, there are many different charging networks, each requiring their own subscriptions, cards, pay as you go balances. 

Zap Map shows all the current charging points across the UK. It can be filtered by postcode or other location.

Which other businesses might be worth investing in as the electric vehicle infrastructure grows?

Check out the Pod Point web site

Electric vehicles (EVs, usually referred to as Ultra Low Emission vehicles or ULEVs) run on electricity some or all of the time.

Geoff Riley

Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.

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