Germany increased EV public charging points by 25% in past year, but business still not profitable

Germany increased EV public charging points by 25% in past year, but business still not profitable

On Wednesday, German utility lobby BDEW said that the number of public charging points for electric vehicles (EVs) in the country has increased by 25% in the last one year. However, BDEW also added alongside that the installation of EV charging station is still not a profitable business.

Reporting the figures for EV public charging points in Germany, BDEW said that there are presently a total of 13,500 public charging points installed in the country. The utility lobby also revealed that the country has added 2,800 new public charging points since end-June 2017.

Highlighting the fact that Germany has significantly expanded the EV charging network in the past year, BDEW also said that the EV charger business is yet to become a gainful industry because of an evident lack of EVs models available from automakers for purchase by customers at competitive prices.

Revealing that more than 75% of the EV charging points in Germany are being built and operated by electricity companies, BDEW’s Managing Director Stefan Kapferer said that the business is not profitable “in view of the small number of e-cars.”

Kapferer further added: “If electric mobility is to achieve a breakthrough in Germany in the next few years, then the car industry has to offer models to the market that can compete on price and performance with the combustion engine.”