New Product Launches & Supportive Government Initiatives to Speed Up Electric Vehicle Charger Installation
October 12, 2021
As the world moves toward electrified future, availability of electric vehicle chargers becomes one of the essential factors. Innovation is another factor driving the engineering firms and automotive companies in launching new chargers equipped with fast charging capabilities. These chargers also feature technologies such as near field communication and credit card readers.
Government organizations and research centers have been taking various steps to promote the utilization of electric vehicles and accelerating the installation of chargers at various locations. Moreover, they are offering free charging services for a year to encourage people in opting electric vehicles. The installation of electric vehicle chargers would gain traction in the coming years.
According to the report published by Allied Market Research, the global electric vehicle charger market is projected to reach $25.5 billion by 2027. Following are some of the activities taking place across the world.
The trend of launching new chargers for electric vehicles has arrived, and leading manufacturers are diving in. ABB's Terra 360 modular charger has the ability to charge four vehicles at a time and charges an entire single vehicle in only 15 minutes. The Swiss engineering firm highlighted that the device provides a range of 100 kilometers in nearly three minutes of charging. The company is expected to deploy the charger in Europe and the U.S. by the end of 2021. Moreover, the charger will be launched in Asia-Pacific and Latin American regions by 2022.
Bjorn Rosengren, the CEO at ABB, stated that the materials required for spin-off will be available by the fourth quarter of 2021. The company aims to consolidate its stake in the electric vehicle charger space through the launch of new product and to utilize the spin-off for acquisition of hardware and software companies and avail capital for achieving rapid growth.
Along with market players in the automotive industry and engineering companies, research institutes have been launching their new products to become a part of the electrified future. The Automotive Research Association of India (ARAI) developed an electric vehicle charger for promoting the electric vehicle ecosystem in India. The organization aims to improve the local economy and introduce cost-effective chargers in the market.
Reji Mathai, the Director of ARAI, highlighted that promotion of charging infrastructure is essential to promote the usage of electric vehicles. Mathai emphasized on the point that most of the components used in electric vehicle are imported from foreign countries. These components include motors, controllers, and even chargers. ARAI’s indigenous technology EV charger AC001 has been adopted by Bharat Electronics. Under this collaboration, ARAI is expected to provide technical expertise and Bharat would manufacture the chargers. These chargers have been developed by taking safety and power aspects in India into consideration.
The trend of new chargers continues with the launch of new public retail chargers for electric vehicles. SemaConnect, one of the electric vehicle services providers from North America, launched the Series 8 electric vehicle chargers in the public retail EV charging space. This charger is aimed at retail and public parking stations. Along with charging capabilities for electric vehicles, it contains near-field communication and a credit card reader. This enables ease for drivers to charge their vehicles and pay without any hassle. Moreover, it has an on-board camera for the various applications in the future.
Mark Pastrone, the COO at SemaConnect, said its new charger aims to support the increase in use cases of electric vehicle charging. The inclusion of credit card readers provides open access to drivers and could become a critical factor in growth of the infrastructure.
Government authorities have been taking initiatives to promote the usage of electric vehicles. One of the initiatives taken by government of the City of Cockburn, Australia, involves offering electric vehicle charger services free of cost. Drivers were charged $0.45 per kWh at the charging station at Spearwood Library. However, the councilors decided to make the service free for nearly a year. Nearby electric vehicle chargers at Westfield Booragoon, Murdoch University, Woolworths Mt Pleasant, and the City of Fremantle’s cappuccino strip carpark offer charging services free of charge.
Stuart Downing, the CFO at the City of Cockburn, said this initiative would encourage people to invest in electric vehicles, and the government would investigate more locations to install electric vehicle chargers in the coming months.
The Urban Redevelopment Authority and the Land Transport Authority from Singapore stated that there will be installation of more than 600 electric vehicle chargers at 200 public carparks in industrial estates, HDB estates, and the Central Business District. The authorities would try to install nearly 210 charging points in central region, 100 in North-East, 50 in North, 140 in West, and 120 in East by the end of the third quarter of 2022.
For more information, visit Allied Market Research.