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TLDR: 2024 Will Be the Year We Figure Out EV Charging

Charging confusion and range anxiety made many Americans hesitant to adopt electric vehicles. But 2024 is shaping up to change that, with most automakers shifting to the same standard. This article highlights several key developments that indicate that 2024 could be the year America finally gets it together on EV charging.

Key Points:

  • Most automakers are transitioning to the North American Charging Standard (NACS), which will make EVs compatible with the Tesla Supercharger network.
  • Seven automakers (BMW, General Motors, Honda, Hyundai, Kia, Mercedes-Benz, and Stellantis) are partnering to form a large-scale joint-venture EV charging network with around 30,000 DC fast-charging stations across North America.
  • Germany is introducing laws that require 80% of gas stations to install EV chargers, and gas station operators in the US are also preparing for more EV adoption.
  • Federal incentives are driving the accelerated growth of EV infrastructure, with the goal of constructing nearly a half-million charging stations by 2026.
  • Automakers are incentivizing home charging to unburden current EV charging capacity, offering complimentary home charging hardware and installation.

2024 is expected to see significant improvements in EV charging infrastructure, with automakers adopting a standardized charging standard, partnering on a large-scale charging network, and gas stations and home charging solutions being expanded and incentivized. These developments will make EV charging more accessible and convenient, addressing concerns about charging availability and range anxiety. With these advancements, it is anticipated that more Americans will be encouraged to adopt electric vehicles, driving the growth of the EV market in the coming year.