In 2006 Silicon Valley startup Tesla Motors boldly announced it would start producing luxury electric sports cars that could travel 200 miles on a single charge. Tesla’s announcement — and its rapid ascent in the industry — prompted leading automakers to increase their electric vehicles (EVs) efforts. By 2011, just over 16,000 battery and plug-in hybrid EVs had been sold in the U.S.
Fast forward to July 2021 and the total plug-in EV sales in the U.S. surpassed 2 million. And there’s no sign of it slowing down. However, the number of EV public charging stations has not grown in proportion to the purchases of electric vehicles.
This gap provides an excellent opportunity for forward-thinking business operators. Installing EV charging stations at your facility offers a wealth of benefits:
1. Earn Revenue
While there are upfront installation costs, business owners can see a return on investment in many ways, from charging customers for the use of the service to taking advantage of local and state incentive programs and rebates. These opportunities can dramatically reduce the cost of EV charging stations to see profits faster.
2. Motivate Customers to Stay Longer
Providing EV charging stations to customers — especially at a restaurant or retail location — encourages them to stay longer while their vehicle charges. Specifically for retail stores, there is a positive correlation between the time spent in stores and the number of items purchased, allowing businesses to increase revenue while customers charge their cars.
3. Demonstrate Commitment to the Environment
As more consumers seek out eco-friendly businesses, installing EV charging stations shows a commitment to sustainability. This provides businesses a differentiator to draw more consumers into stores, restaurants, and hotels.
4. Appeal to Affluent Customers
This benefit impacts the hotel industry the most. Higher-paying guests are more likely to pursue lodgings with public EV charging stations, and those stations may even attract non-guest customers. EV drivers tend to have more disposable income, a fact that can mean staying longer, purchasing upgrades, and ordering more expensive services.
5. Attract Employee Talent
Providing workplace EV charging stations can help attract and retain top talent who are environmentally conscious and comfortable with cutting-edge technology. EV drivers on average are younger, more technology-savvy, and have higher incomes than gas-powered vehicle drivers — a valuable employee subset that can help lead a business into the future.
By 2030, it’s estimated that up to 240 million electric vehicles will be on the roads worldwide. Installing EV charging stations now can put your business ahead of the curve and give you a clear competitive advantage when competing for customers and employees. These benefits and more speak for themselves.
Contact Dialectic to learn about the installation process to put your business on the EV map.