Biggest EV Charging Station Manufacturers in the World
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Tesla
Tesla has approximately 3.400 Supercharger stations and more than 31.000 EV charging sockets and that makes Tesla one of the companies that have the largest fast-charging stations network. V3 Supercharger units can deliver up to 250 kW and preserve this charging speed for a long time. Tesla won the title of charging network operator with the highest average charging speed.
Tesla develops and manufactures its charging units and was producing all its stations in its Fremont, California factory until 2021. The company opened its second Supercharger production facility in Shanghai, China in 2021 and now can manufacture more than 10 thousand charging units per year in the second factory.
ABB
Switzerland-based ABB is one of the most widely used brands in the world for electric vehicle fast-charging units. The company is the leading name in the sector of electrical equipment and since 2010, it has sold more than 460,000 EV charging units, 21,000 of which are DC.
ABB is used in high-speed charging stations established by Porsche in our country to develop the solution with the highest charging capacity in a single unit with 360 kW. In the coming period, we will see that much more high-speed ABB charging stations will become operational in Turkey in cooperation with DBE Holding.
An example station project from England where ABB charging units are used:
Siemens
Siemens, which manufactures electric vehicle charging units under the VersiCharge sub-brand in the USA, is another important player in the global charging market. The German technology giant creates AC charging solutions for most of its sales, and just like ABB, also produces high-speed DC charging stations under the Sicharge brand.
Offering a charging capacity from 160 to 300 kW in a single unit, Sicharge solutions also provide energy savings with a charging efficiency of up to 96%.
Tritium
Founded by young entrepreneurs in Australia in 2001, Tritium is today one of the world’s largest manufacturers of DC fast charging units. The company holds 20% of the European market and 16% of the USA and has announced in February 2022 that it would establish its second factory in the state of Tennessee, with a ceremony attended by US President Joe Biden.
Tritium has sold more than 6,700 fast-charging units to date and has two series of charging units, RT and PK. The Australian company starts with 50 kW in a single unit and develops products up to 350 kW capacity and also aims to increase its dominance, especially in the USA market.
TELD
According to December 2021 data, TELD has the largest fast-charging network in both China and the world, with more than 151 thousand DC fast charging units. The company is famous for its transformers in its hometown China and for its success in defeating ABB and Siemens in the transformer tender opened for the Qinghai-Tibet railway, which is the highest railway line in the world. Today, the Chinese company is also showing the same success in the charging station sector.
TELD holds more than 20% of the electric vehicle charging station market in China whereas it is working on risk monitoring and early error warning systems to ensure the safest charging service.
Star Charge
Star Charge operates China’s largest charging network with 257,000 electric vehicle charging stations according to the end of 2021 data. The company mediates the transfer of 8 GWh of electricity per day to vehicles. Although AC charging units are more common, the company has doubled its DC fast-charging network in the last year and works with the Chinese state-owned State Grid on many large-scale projects.
Star Charge has formed strategic partnerships with almost 60 Auto OEMs worldwide, including Mercedes-Benz, Porsche, BMW, Jaguar Land Rover, and Volkswagen as international OEMs, BYD and BAIC as the domestic OEMs.
EVBox
EVBox is a Netherlands-based charging equipment manufacturer, which carries out most of its operations in European countries, The company manufactures its electric vehicle charging units. It is acquired by the French electricity transmission company ENGIE in 2017 and quickly expanded into different markets to expand its sales network.
Accelerating its DC charging unit development activities by acquiring EVTronic in 2018, EVBox today serves tens of thousands of units in Europe’s largest charging networks. The newest DC charging unit, introduced as EVBox Troniq Modular, draws attention with a total charging capacity of 240 kW.
Wallbox
Spanish electric vehicle charger manufacturer Wallbox is one of the brands that electric car users are most familiar with in the world. Producing portable or home/workplace mountable smart chargers, the Barcelona-based company has sold more than 100,000 to date.
Launching its first DC charging solution, called Supernova, by the end of 2021, Wallbox will soon start to make a name for itself in large charging stations outside of homes and workplaces. Wallbox Supernova with a capacity of 65 kW will intensify the price competition in the market with half the cost compared to equivalent solutions.
The company, which has been developing more powerful charging solutions with a capacity of 150 kW and even 250 kW, apart from Supernova, was put on the stock market with a SPAC agreement in 2021. The market value of Wallbox, which is traded on the New York stock exchange with the WBX code, is at the level of $ 1.89 billion.
Eaton
Ireland-based Eaton has a significant position among companies that make electric vehicle charging stations in the global market. Eaton, which acquired the Swiss-based Green Motion company in March 2021, invests heavily in the production of charging equipment, especially AC charging solutions.
The solution with the highest charging capacity of Eaton develops products under the name xChargeIn and it is ranging from 22 kW to 66 kW fitting both Type 1 and Type 2 cables and are designed for use on public and private parking facilities and highways.
Schneider Electric
Schneider Electric started its charging station activities quite late and is trying to make a presence in the market with cheaper charging solutions with more AC charging capability. Among the solutions sold under the EVlink brand, there are DC charging units that can serve at a low speed of 24 kW. However, certainly, the company cannot develop products as strong as its competitors in the electrical equipment market, ABB and Siemens.
Webasto
German automotive parts supplier Webasto specializes in battery pack production and produces chargers. It is possible to find wall-mounted chargers suitable for homes and offices of Webasto, which mostly sells AC charging solutions, in almost every country in Europe.
Family-owned Webasto, headquartered in Stockdorf near Munich, is aiming to become a market leader in direct sales of EV charging cables to manufacturers of hybrid and electric cars in North America. In 2022, the company’s market share in this segment is expected to jump to more than 40 percent, with 400,000 EV chargers sold.
Contact us to discuss your requirements of Charging Point Manufacturers. Our experienced sales team can help you identify the options that best suit your needs.
The EV chargers of Webasto can be used to charge electric vehicles from domestic and industrial sockets with a power rating of up to 7.7 kW. Automatic adapter recognition and current limitation coupled with temperature monitoring ensure that overload or overheating conditions cannot occur during charging.
Efacec
Efacec has introduced a new charging station that charges all EVs in a stand-alone mode with minimum time spent. Its design is unique and charges with the best power factor.
Circontrol
The Circontrol eHome 7.4kW EV charger provides a super affordable and quality home charging solution supported by a well established EVSE manufacturer.
SK Signet
SK Signet Inc., a global manufacturer of electric vehicle (EV) charging solutions, has entered into a long-term EV charger supply agreement with Francis Energy, owner of the fourth-largest electric vehicle fast-charging network in the US. During the initial phase of the agreement, SK Signet will provide 1,000 400 kW EV charging dispensers to Francis Energy.
Sinexcel
Sinexcel have 10 years experience in manufacturing of EV Charger, our business coverage energy storage, EV Charger, power quality, battery test equipment,
In this article, we will be taking a look at the 10 biggest EV charging companies in the US. To skip our detailed analysis of the EV charging sector, you can go directly to see the 5 Biggest EV Charging Companies in the US.
The higher the demand and supply for electric vehicles, the faster the electric vehicle charging market will grow. According to a report by Global Market Insights, the US electric vehicle market was valued at $49.1 billion in 2022 and is expected to grow at a compound annual growth rate of 15.5% over the forecast years of 2023-2032. The market is projected to reach $215.7 billion by 2032. Such indicates that the future of the electric vehicle charging industry has a positive outlook.
According to a report by Fortune Business Insights, the global electric vehicle charging station market was valued at $12 billion in 2022. The market is expected to grow to $141.08 billion in 2030 from $16.43 billion in 2023 at a compound annual growth rate (CAGR) of 36%. More and more countries have begun to adopt electric vehicles and charging systems. As of now, companies in North America and Europe dominate the market. However, Asia Pacific holds the largest consumer base.
Nevertheless, the United States holds a large electric vehicle (EV) charging market. According to a report by Mordor Intelligence, the US electric vehicle charging equipment market was valued at $4.2 billion in 2022. The market is expected to grow to $11.73 billion by 2028 at a compound annual growth rate (CAGR) of 22.8%. Increasing awareness of climate hazards and a shift towards clean energy has prompted the adoption of electric vehicles in the country. With that, the demand for EV charging solutions is expected to grow to unprecedented levels.
While the EV charging industry is growing and is expected to experience an exponential upward trajectory, it is important for companies and authorities to maintain these systems.
On September 13, the Wall Street Journal reported a recent event on EV charging stations that came to light. Pete Buttigieg, the transportation secretary of the United States, failed to find a functional Electric Vehicle (EV) Charger. The US Secretary of Transportation owns a hybrid minivan and was looking for an EV charger in his vicinity. He said that most EV chargers in the vicinity were dysfunctional and how other EV owners faced similar experiences in the past.
This one instance sheds light on the workings and functionality of the EV charging business in the United States. According to the report, there are almost 100,000 public EV stations in the United States. However, most are reportedly dysfunctional. On the one hand, the Biden Administration is investing heavily in the EV charging industry, and on the other, the functionality of the existing EV charging stations tells us a different yet alarming story. According to the report, the government is set to establish 500,000 new EV charging stations by 2030. However, the US Secretary of Transportation, Pete Buttigieg, seems skeptical about the initiative. The Biden Administration has allocated $7.5 billion to developing EV charging solutions in the US.
Some of the top companies that are working on developing EV charging networks and solutions include Tesla Inc. (NASDAQ:TSLA), EVgo Inc. (NASDAQ:EVGO), and ChargePoint Holdings Inc. (NYSE:CHPT). These companies are also some of the best EV stocks to buy.
Tesla Inc. (NASDAQ:TSLA) is a large multinational automotive company based in Texas, United States. The company specializes in designing and manufacturing electric vehicles, stationary battery energy storage devices, and solar panels. The company is known to dominate the electric vehicle and EV charging market with its innovative technology and strategic decision-making. On June 8, Forbes reported that General Motors Company (NYSE:GM) joined the EV charging network of Tesla Inc. (NASDAQ:TSLA). This happened two weeks after Tesla Inc. (NASDAQ:TSLA) gave Ford access to its EV charging stations. Drivers of General Motors Company's (NYSE:GM) electric vehicles will initially gain access to 12,000 Tesla supercharger ports by the start of 2024. Later in 2025, General Motors Company (NYSE:GM) is expected to integrate Tesla Inc.'s (NASDAQ:TSLA) North American Charging Standard in all its automobiles.
ChargePoint Holdings Inc. (NYSE:CHPT) is a leading electric vehicle infrastructure company based in California, United States. The company is another prominent member of the industry. The company's ability to integrate technology and innovation to keep up with trends in the market contributes to its standing in the industry. On August 8, the company announced its investment in technological systems that enable reliable and clear communication between charging stations and the Networks Operations Center, or NOC. The system by the NOC, involves a proactive station monitor system combined with predictive analytics. The system also integrates machine learning technology to detect station downtime for over 243,000 active charging ports by ChargePoint Holdings Inc. (NYSE:CHPT).
EVgo Inc. (NASDAQ:EVGO) is an electric vehicle charging company based in California, United States. The company is a major player in the industry. On September 11, the company reportedly received its first shipment of 350 KW High-Power Fast Chargers from Delta Electronics. These chargers comply with the Build America, Buy America (BABA) standards. The shipment will allow EVgo Inc. (NASDAQ:EVGO) to establish a robust and elaborate supply chain network required for the widespread adoption of electric vehicles. This supply chain network will be able to support the placement of EV charging points on a wider scale. Dennis Kish, COO of EVgo, shed light on the shipment and how it will benefit the entire electric vehicle industry and significantly improve the electric vehicle charging infrastructure. He stated:
"As states award their initial round of NEVI funding, the arrival of EVgo's first batch of BABA fast chargers—with incredible speed for onshoring—signals both a tremendous moment for domestic charger manufacturing and for additional public funding opportunities as more states announce their awards. EVgo and Delta are committed to developing a resilient supply chain here in America, and this collaboration showcases the companies' capability to deliver the high-quality, high-power fast chargers we need to meet the growing demand for fast charging across the country."
Electric vehicles are the future. This is primarily due to the rising awareness that comes with the adverse impact of climate change on the world. Therefore, it is imperative to invest time and effort in improving the industry's structure. However, this is only possible with the technological support of large companies. These companies must lead the industry with technologically equipped solutions. With that, let's look at the 10 biggest EV charging companies in the United States and how they dominate the industry.
10 Biggest EV Charging Companies in the US
Our Methodology
For our methodology, we conducted extensive research to shortlist the 10 biggest EV charging companies in the United States. For our research, we looked up EV ETFs' holdings to source the names of the biggest stocks. We also reviewed reports and lists for finding EV charging startups. Additionally, we looked up competitors of major EV charging companies to source the 10 biggest EV charging companies in the United States.
Our list includes both private and public pure-play EV charging companies. Public companies are ranked based on their market cap as of September 13, 2023. Private companies are ranked based on their estimated funding amounts or annual revenue for the most recent fiscal year, whichever metric was available to us. We sourced and cross checked the annual revenue and estimated fundings from Growjo and Crunchbase. The list is in ascending order of the above-mentioned metrics.
Estimated Annual Revenue: $5.3 Million
Greenlots is a mobility infrastructure solutions provider. The company was acquired by Shell plc (NYSE:SHEL) in 2022, to become Shell Recharge Solutions. The company provides innovative technologies to companies. These solutions allow automakers to establish electric vehicle charging infrastructure at scale. The company has offered solutions in more than 13 countries. With an estimated annual revenue of $5.3 million, Greenlots is one of the biggest electric vehicle charging companies in the United States.
Estimated Annual Revenue: $7.2 Million
AmpUp is an EV charging company based in California, United States. The company aims to make electric vehicle charging convenient and hassle-free for users. The company is a software provider and owns a leading EV charging operating system. With an estimated annual revenue of $7.2 million, the company stands as the ninth biggest EV charging company in the United States.
Estimated Annual Revenue: $79 Million
Electrify America is an electric vehicle charging station network operator based in the United States. The company has over 830 charging stations in the United States, with 118 stations launching soon. Additionally, the company owns over 3,600 fast chargers. The company ranks as the eighth biggest EV charging company in the United States, with an estimated annual revenue of $79 million.
Companies like Electrify America are innovating in the industry, however, that does not come without competition from some of the market leaders such as Tesla Inc. (NASDAQ:TSLA), EVgo Inc. (NASDAQ:EVGO), and ChargePoint Holdings Inc. (NYSE:CHPT).
Market Cap as of September 13, 2023: $147.36 Million
Workhorse Group Inc. (NASDAQ:WKHS) is an equipment manufacturer and technology company based in Ohio, United States. Workhorse Group Inc. (NASDAQ:WKHS) produces electric cars, trucks, and charging stations as well. With a market capitalization of $147.36 million, as of September 13, Workhorse Group Inc. (NASDAQ:WKHS) stands as the seventh-biggest Electric vehicle charging company in the United States.
Market Cap as of September 13, 2023: $245.67 Million
Blink Charging Co. (NASDAQ:BLNK) ranks as the sixth biggest electric vehicle charging company in the United States with a market capitalization of $245.67 million, as of September 13, 2023. With the mission to curb climate change, the company is heavily investing in research and development for new and innovative EV charging solutions. SemaConnect was acquired by Blink Charging Co. (NASDAQ:BLNK) in 2022. SemaConnect is an electric vehicle infrastructure company based in Maryland, United States, producing smart networked electric vehicle charging stations.
Some of the leading companies transforming the EV charging industry include Tesla Inc. (NASDAQ:TSLA), EVgo Inc. (NASDAQ:EVGO), and ChargePoint Holdings Inc. (NYSE:CHPT).
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Disclosure: None. 10 Biggest EV Charging Companies in the US is originally published at Insider Monkey.
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