Wall Street doesn’t know this, but the electric car market is in deep trouble.
The problem is “range anxiety.” Zoom in on this map to see where we are now. The problem is acute, even in California.
Today, most electrics are used close to home. You buy a 240-volt plug, you snuggle the car up close, and you recharge it at night, just as you do your phone. Fine if you have a house. But not everyone lives in a house.
Some apartments have opened charging stations in their garages, and there are lots of on-street 120-volt and 240-volt “free charging” places. But you can’t scale the business that way. Free chargers quickly get full as electrics cease being a curiosity. And how long are you going to give electricity away? Third (and perhaps most important) wall current takes all night to deliver a fill-up. Most stations today are delivering wall current.
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