Bloomberg NEF recently released the Zero-Emission Vehicles Factbook, which estimates that the cumulative investment in electric vehicle charging and installation equipment will reach $62 billion by the end of this year (2022), a 228% increase over the previous year , when it had been 28.6 billion. Of the total investment in 2022, 61% represent the 600,000 public chargers built in China.
Cumulative global investment is even likely to surpass the $100 billion mark in 2023 if China continues its sustained pace. This is an important moment that suggests the transition to a new phase in the electric vehicle charging sector. As Jigar Shah of the US Loans Program says, the $100 billion in invested capital indicates the ability to address the industry's problems and opens up access to the cheap capital needed to reach the $1 trillion mark.