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The future of electric mobility is closer than ever, and EverCharge is leading the way. As a vertically integrated OEM and turnkey solution provider, EverCharge is redefining how we think about electric vehicle charging infrastructure. In a recent discussion with Taeho Kang, CEO of EverCharge, we explored the challenges, misconceptions, and exciting opportunities surrounding the EV charging industry. From innovative load balancing technologies to new business models, EverCharge is at the forefront of creating reliable and scalable charging solutions that make EV ownership more accessible for everyone.
What is EverCharge?
EverCharge is a vertically integrated OEM and turnkey solution provider of EV charging hardware, software, and services. EverCharge was founded in 2013, and acquired in 2022 by SK Group, South Korea’s second-largest conglomerate. At EverCharge, we design and manufacture EV charging solutions for all kinds of use cases from fleets and workplaces to multi-unit dwellings. Our patented intelligent load balancing technology, SmartPower, maximizes the number of EVs that can charge at once, and eliminates barriers such as data connectivity. Unlike other solutions, SmartPower allows you to install up to 10x more chargers on limited existing infrastructure, and eliminate data connectivity barriers, reduce installation costs and complexity, while improving reliability and simplifying scaling.
What are some of the biggest misconceptions about EV charging?
Although electric vehicles have steadily been adopted for years, there are still some misconceptions that may give people pause when deciding whether to electrify.
Myth #1: EVs are more expensive
Although some EVs sometimes have a higher upfront price tag, the cost savings over time for an EV are substantial compared to a gas vehicle. This is for a number of reasons, including; immediate money saving on gas especially if you charge at home, 40% lower maintenance cost on average, financial incentives from local and national governments for the purchase price of the vehicle, government grants for mass installation projects.
Myth #2: An EV always has to be 100% charged
Many people may think that charging your EV means getting it to a 100% full battery. However, most of the time that is not needed, and in fact can do more hard than good. Similar to a smart phone for example, EVs are better off being charged to 80-90%, in order to help protect the longevity of the battery. In fact, some public charging hubs are even limiting EV charging to 80%, then either automatically stopping the charge, or requiring a penalty for going above.
Myth #3: Range anxiety is what counts
Many EVs have the same amount of range as a gasoline vehicle. There are still talks about range anxiety but it’s not range anxiety – it’s charging anxiety that people have.
The average American drives only 30 miles per day, most often, so charging availability really only becomes a question on long road trips. And there are apps to help you plan out your trip.
Myth #4: Public charging solves all charging problems
Gone will be the days searching for the nearest gas station before you hit the dreaded empty signal. Charging stations are not equivalent to gas stations, and that’s a good thing. EV charging stations are designed to support different ecosystems, which not only includes side-of-the-road public charging, but also destination charging like workplaces and homes.
Consider charging your smartphone. Not only do you need charging cables accessible around your house, but you also want them at airports, shopping centers, work, etc. In the same vein, drivers will increasingly want charging to seamlessly fit into their lifestyles. Additionally, installing more charging stations at workplaces removes the need for employees to constantly need to move their vehicles and lose productivity throughout the day.
Fleet vehicles, such as delivery trucks, on the other hand, know exactly the number of miles their vehicles travel daily, further simplifying the charging experience, removing the worry of charge anxiety, and making electrification the most cost-efficient solution. Most fleet vehicles charge at the depot overnight.
Myth #5: Faster is always better
There’s a time and place for fast charging, but choosing the right solution means understanding your charging scenarios.
For workplaces, multi-unit dwellings, hotels, event spaces, and most fleets, L2 charging is almost always enough. Why? Because faster is not always better. And sometimes, faster is not always faster either, especially when lining up to secure a spot at a fast charger can commonly take longer than the actual charge itself.
While L2 chargers take an EV from empty to full in 4-10 hours, the use case is what makes all the difference. Take advantage of a vehicle’s natural downtime, like when your vehicle is parked at home overnight, or at work during business hours. This ultimately gets rid of wait time, removes any perceived inconvenience of charging, and increases efficiency.
What kinds of customers does EverCharge work with?
We have a diverse customer base with the majority of them responsible for multi-unit housing development and management, workplaces, hospitality, and fleets from last-mile delivery to rental cars.
Earlier this year, we announced our partnership with the San Francisco Giants to bring hundreds of EV chargers to Oracle Park parking facilities, and subsequently announced a collaboration with American Electric Power, a national utility company naming EverCharge as a preferred EV charging partner for Public Service Company of Oklahoma (an AEP company).
What do you think the future of the EV/EV charging industry will look like?
Prediction #1: Charging anywhere and everywhere
In its current state, the EV charging network is nowhere close to where it needs to be. More importantly, not enough charging stations are fully reliable, either. While many local governments are taking strides towards expanding charging infrastructure, most of the time, they won’t be able to guarantee that the chargers are 100% available and reliable. As this becomes the focus, only the most reliable charging companies that can provide charging for any use case, will survive.
Additionally, the integration of EV charging stations will continue to grow across segments including businesses, fleets, multi-unit homes, and entertainment venues as they begin to recognize the business benefits and cost savings associated with EVs. In the long run, EV chargers will be as readily available as smart phone chargers.
We will also see more creative workarounds to charging for city dwellers, including the wider adoption of solutions like curbside and lightpost charging.
Prediction #2: Rapid investments will continue to propel technology forward
We will see continued advancements in energy density, longevity, and faster charging capabilities in 2025. With the continued growth, preparing the grid will mean smarter charging experiences overall. To address this load growth, initiatives such as “time-of-use rate” have been implemented in some states, and will continue to spread throughout the country in order to create the most efficient and clean charging infrastructure possible. Additionally, grid impact will introduce new business models and push technical innovations.
Our parent company, SK Group, is actively collaborating with global automakers to pioneer cutting-edge battery technologies. These innovations are poised to further enhance the next generation of EVs, enabling them to cover greater distances, achieve faster charging times on a single charge, and be more widely accessible to more people and businesses than ever before.
Prediction #3: New charging business models will emerge
To help accelerate adoption, we expect to see new business models emerge to lower the initial upfront cost of EV charging implementation. Charging as a service (CaaS) is just one of the models that will gain more popularity.
OEMs and the entire electric mobility industry must support each other to eliminate any EV anxiety and create a turning point for people who are buying EVs for the first time. Today, not many true turnkey solutions currently exist. Only true turnkey solutions will come out on top, and ultimately alleviate EV anxiety. This will be the first step to mainstream adoption.
Prediction #4: New job opportunities will arise for specialized electrician skills
EV installations differ from other electrician’s skills. As EV adoption increases, so will the demand for specialized skills for equipment installation. From batteries to other electric parts, skills will need to be upleveled in order to meet the growing demand for electric solutions.
Prediction #5: A charging-related cottage industry will emerge
The shift to electric will likely create an entire charging ecosystem industry beyond specialized electricians. As the industry is starting to grow up and learn how the elements are affecting the chargers, or how many years chargers can effectively function, charging operators will increasingly demand solutions that not only address charging, but the long-term protection of their entire charging gear. For example, DCFCs and L2s in Arizona will need protection from excessive sun by constructing shade around the charging equipment. Construction labor cost in the US is quite high today, so it wouldn’t be surprising to see the emergence of a construction cottage industry specializing in EV charging that’s more cost competitive.
What opportunities is EverCharge looking forward to in the coming year?
Most importantly, we’re looking forward to playing our part in contributing to the ecosystem of sustainable transportation by working together with our partners to eliminate EV anxiety.
Additionally, we’re really looking forward to continuing to work with our customers on expanding their charging hubs, and creating custom solutions to address common inefficiencies. For example, we recently worked with a large fleet customer to create a custom smart alerts solution for their fleet of vehicles.
We’re looking forward to expanding our portfolio of innovative products, and bringing our customers efficient and scalable solutions, ultimately making it easier for more businesses and people to choose electric mobility.
You can learn more about EverCharge at www.evercharge.com.
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