New market growth. New opportunities.
In the EV charging business, there are opportunities to create customer value directly and indirectly around the growth of the EV charging market, new EV technologies and new demand for residential and commercial EV charging. What are these opportunities, where should you focus, and how can you profit in the EV charging business?
What is an EV charging business model?
A business model is the plan implemented by a company to generate revenue and make a profit from operations. The model includes the components and functions of the business, as well as the revenues it generates and the expenses it incurs.
What's the key to EV charging business success?
Studies of EV charging infrastructure have proven that operating costs (OPEX) are typically 80% of the total cost of EV charging stations over a 10-year lifespan.
EV infrastructure owners must focus on OPEX to minimize costs and make EV charging business profitable. Learn how to save on EV charging costs
Direct and indirect value in the EV charging market
There is some obvious value from direct sources of revenue, like drivers paying for charging, but let’s open up the balance sheet and look at other potential factors:
Direct sources of value from EV charging business:
Additional, indirect sources of value that EV charging business models may generate:
Increased sales of products or services near EV charging stations
Increased tourism from electric vehicle travel to popular destinations
Advertising sales at EV charging station sites
Marketing and branding opportunities
Increased electric car sales
Other potential, market-specific value from:
Grants and low-interest loans
Tax exemptions and incentives
Construction-related incentives from EV-ready buildings
Carbon credits and other environmental and emissions-related incentives
EV charging business costs
Of course, as in any business, there are costs to consider:
Capital costs from equipment, installation and electricity connection
Operating costs from electricity, maintenance, inspection, and damage
Funding costs, such as interest on debt and equity returns
How can your EV charging station manufacturer help?
We are in a young industry. At Chago, we believe that to succeed we need to keep an open attitude to partnerships. We must be proactive to help our customers identify opportunities and drive down OPEX, and that is exactly what we are doing.
Firstly, we focus on helping customers reduce costs. Our hardware designs and cloud-based software minimize maintenance costs. Our load balancing technology helps you to save on every charge.
Secondly, we help our customers profit. A great example are our Chago Wall EV charging stations the have digital ads built-in. They provide a constant stream of advertising revenue.
One thing is true: every EV charging business case is different…
But, from identifying infrastructure gaps, delivering modular hardware, remote management and preventive maintenance, integrating payment and back-end systems… you are sure to benefit from EV charging and we are here to help. To find your way of profiting from EV charging, see our EV charging for retail guide.
Roll out of electric vehicles to the market is accelerating. Retail must decide on their strategy how to attract customers driving electric to retail locations. Learn which EV charging for retail business model suits your business.