Ryan Stancil,
Editor
Dec. 10, 2021
There’s no way around it at this point — electric cars are inevitable.
More people will be driving them than not before long. The government and big business are doing what they can to speed that transition along.
When President Biden was campaigning, he made getting away from fossil fuels a central part of his platform. Over the past few years, Tesla (NASDAQ: TSLA) forced the hand of every other auto manufacturer by expanding at a rapid pace. Ford (NYSE: F), GM (NYSE: GM), and everyone else had to update their lineups or get left behind.
Countries are planning to phase out combustion engine cars over the next few decades. Their governments are discussing how to build out the infrastructure that will be able to support all of these new cars that are going to be taking to the roads.
The momentum can’t be stopped, especially here in the US.
Earlier this week, over 50 utilities throughout the country came together to form the National Electric Highway Coalition. This group is made of investor-owned power companies and their goal is to “fill charging infrastructure gaps along major travel corridors.”
One of the big concerns with the adoption of electric vehicles has always been having enough stations to charge them on long road trips. The companies plan to move fast to get ahead of the trend. They want to have 100,000 EV fast-charging stations across member territories by the end of 2023. This will come just in time to service a projected 6.9 million EVs on American roads by 2025.
Those numbers are a big uptick from the 1.8 million vehicles and 46,000 public charging stations that are currently out there, so you have some sense of just how much work lies ahead.
The president’s recently-signed infrastructure law could help make this possible. Remember, President Biden’s bill has $7.5 billion set aside for charging networks, so the group’s efforts could take advantage of that.
And while the group wants 100,000 fast-charging stations by 2023, the president wants 500,000 by 2030. Lofty goals, and something of an uphill battle ahead, but it’s widely agreed upon that this is one of the key ways we can help fight climate change as a country.
There are, of course, other factors involved. We’re still dealing with supply chain issues and the automakers and battery manufacturers will have to do their parts, but the incentive to make this a reality is there.
Not only is getting rid of fossil fuels going to be a priority over the next few decades, but the companies that get their infrastructure out there first will be the ones investors look at.
And this will be one of the big 21st-century investment stories.
All of these new EV charging stations are going to have to be part of the national power infrastructure. They’ll have to be put in place right alongside things like solar panels, batteries, wind turbines, and other alternative-power tech.
This overhaul of our national power infrastructure is necessary and one company in particular is helping to make that possible.
Not many people know it exists now, but that will change. It’s getting ahead of the competition by introducing a method of power distribution that will go hand-in-hand with our infrastructure overhaul.
Some early investors are already putting their dollars behind this play. The company is positioning itself so that, as our power grid gets reworked, the big Wall Street firms will have no choice but to take notice too.
You can get in before that happens and reap the rewards the future will bring.
Keep your eyes open,
Ryan Stancil
Editor, Daily Profit Cycle