_{^{CHAPTER 1}}
State of
the market

EVs are on the move

Inside this chapter:
- EV growth forges ahead
- EV charging is scaling in North America ...

_{^{STATE OF THE MARKET}}_^|_^MYTHBUSTING_^|_{^{THE MARKET ECOSYSTEM}}_^|_{^{THE FUTURE OF MOBILITY}}_^|_{^{WHY CHARGEPOINT}}

EV growth forges ahead

_{^{STATE OF THE MARKET}}_^|_^MYTHBUSTING_^|_{^{THE MARKET ECOSYSTEM}}_^|_{^{THE FUTURE OF MOBILITY}}_^|_{^{WHY CHARGEPOINT}}

EV sales in the U.S. and Canada reached 1.6 million in 2023, a 49% increase from 2022. More than 154,000 EVs were sold in December 2023 — the highest volume of monthly EV sales to date in the region. In North America, EV penetration reached 10% last year.

3 million EVs were sold across Europe in 2023, including plug-in hybrids (PHEVs). Battery electric vehicles (BEVs) accounted for more than 66% of those sales, increasing EV penetration to 22% of all vehicle sales in Q4 last year. 

Globally, BloombergNEF predicts there will be nearly 60 million passenger EVs on the road by the end of 2024 and that commercial EV sales will top 1 million.³

^{3 “4Q 2023 Electrified Transport Market Outlook,” BNEF, March 2024}

EV charging is scaling in North America …

_{^{STATE OF THE MARKET}}_^|_^MYTHBUSTING_^|_{^{THE MARKET ECOSYSTEM}}_^|_{^{THE FUTURE OF MOBILITY}}_^|_{^{WHY CHARGEPOINT}}

Today, there are more than 170,000 publicly available charging ports across the United States and Canada, according to the Alternative Fuels Data Center (AFDC). At ChargePoint, we saw year-over-year port growth in North America increase by 31% in 2023.⁴

At the end of 2023, drivers had access to:

286,000 activated ChargePoint ports across the regions we serve
630,000 ports using the ChargePoint app, including our roaming partners⁵

Video courtesy of Out of Spec Reviews

^{4 “AFDC,” U.S. Department of Energy, Jan. 2024}

^{5 ChargePoint network, Jan. 2024}

… and in Europe

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According to European Alternative Fuels Observatory (EAFO), there were over 380,000 public charging ports available to drivers across the European Union and more than 30,000 in the U.K. at the end of 2023.⁶ There was a 47% overall increase in public charging ports in the EU year-over-year.⁷

Did you know?

ChargePoint empowers our customers and ecosystem partners to connect with drivers when they want to charge. You can even use the ChargePoint software platform to run third-party hardware.

^{6 “EAFO,” European Commission, Jan. 2024}

^{7 ChargePoint network, Jan. 2024}

Fleets lead the charge

_{^{STATE OF THE MARKET}}_^|_^MYTHBUSTING_^|_{^{THE MARKET ECOSYSTEM}}_^|_{^{THE FUTURE OF MOBILITY}}_^|_{^{WHY CHARGEPOINT}}

Commercial EV sales, including vans, trucks and buses for fleets, are set to top 1 million this year, according to BNEF. Today, 7% of light-duty vehicles and 2% of medium- and heavy-duty vehicles sold are electric, a number that is expected to increase significantly in coming years.⁸ That’s especially true in Europe, where stringent emissions mandates are driving electrification. BCG predicts that commercial EV sales could top 50% there by 2030.⁹

While diesel bans and sustainability goals may be among the main reasons fleet leaders cite for the switch to electric today, a lower total cost of ownership (TCO) could easily be the top motivation tomorrow. That’s because fueling an EV is around a third of the cost of its fossil fuel counterpart, while maintenance costs are a whopping 40% less.¹⁰

Add to that longer vehicle lifespans and a more favorable brand experience and those mandates begin to look less stick and more carrot.

GILLIG selected ChargePoint as a partner because of their established and proven experience and for their leadership in developing integrated solutions for electric vehicles. They have helped ensure GILLIG’s customers have a smooth transition to electric buses.

Ben Grunat, VP of Product Planning and Strategy, GILLIG

_{8 “4Q 2023 Electrified Transport Market Outlook,” BNEF, March 2024}
_{9 “What the Shift to Zero-Emission Vehicles Means..,” BCG, March 2022}
_{10 “How much does it cost to charge an electric car?,” EnergySage, Feb. 2024}

_{Key highlights from this chapter}

EV sales were up in 2023, growing 49% to 1.6 million vehicles in North America, while European penetration reached 22% overall.
ChargePoint saw 31% growth in North America in 2023 to more than 170,000 public ports. In Europe, there was a 47% increase in public charging ports YoY.
ChargePoint empowers our customers and ecosystem partners to connect with drivers when they want to charge. You can even use the ChargePoint software platform to run third-party hardware.
Electrifying commercial fleets helps companies meet sustainability goals and mandates while offering a significantly lower total cost of ownership than traditional vehicles.

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