The news on EVs and charging infrastructure can seem like it’s all over the place. The New York Times decried the “slow rollout” of a national charging network that was funded in 2022 with $5 billion from the federal government, and a Business Insider article in June of 2024 decried the “bleak” state of EV charging, worrying that drivers may “ditch their EVs” in increasing frustration. Yet, in March of 2024, the “fastest EV chargers in the U.S.” opened in New York City, and Price Waterhouse Cooper predicted that the U.S. EV charging network could “grow nearly tenfold” by 2030.
Instead of chasing headlines down rabbit holes, GPRS cut through the noise and went straight to the source because providing subsurface utility locating, utility mapping, and concrete scanning support to EV charging networks is important to their safe, efficient installation, operation and maintenance. So we asked, who is investing in EV charging infrastructure near you and how much are they putting into it? When you evaluate the market information through that perspective, it paints a picture of a market and industry that has barely started its growth, and the numbers back it up.
Big Oil Goes Big Into EVs
If there’s one word to sum up where oil & gas companies see the future, it is diversification. For instance, BP’s future-casting is centered on a portfolio of five “transition growth engines,” as it moves to position itself as an integrated energy company. The five areas of growth they have identified are electric vehicle charging, bioenergy, convenience, renewables and power, and hydrogen.
Yahoo! Finance reports that several key oil and gas companies are expanding their EV charging station investments to meet demand. U.S. O&G companies like Shell, Chevron, and Phillips 66 join multinationals TotalEnergies, Eni, Repsol, Pkn Orlen, and Petronas in the EV charging station race. However, even the most invested oil company in the U.S., Shell, is still spending “a fraction of their capex on clean energy investments.” And it’s worth noting that some petroleum giants – Exxon Mobile, Valero, and Conoco Phillips, specifically – have decided to stay in their lane and focus on oil & gas, even though fossil fuel energy use is expected to stagnate by 2030.
As part of their diversification and transition strategy, BP inked a new deal in July 2024 to roll out ultra-fast Gigahubs, large fast-charging EV hubs located in high-demand areas, to 75 Simon® locations. The deal is expected to add 900+ new charging bays near shopping, dining and entertainment, and mixed-use areas held by the Simon Property Group. The first of these Gigahubs should go online in early 2026. This investment is part of BP’s commitment to investing $1 billion in EV charging hubs. Currently, the company has 29,000 EV charge points worldwide. Their goal is 100,000 sites by 2030.
EV Arms Race Fueled by Shell & BP
BP’s Gigahub investment seems to be positioning the company in an attempt to overtake Shell in the U.S., but they’ve got some catching up to do. Shell currently has approximately 55,000 public charge points worldwide, with stated expansion goals of 70,000 by 2025 and 200,000 by 2030.
Chevron, meanwhile, has sunk cash into ChargePoint and put additional investment capital into Electric Era Technologies’ PowerNode™ EV charging stations through its VC arm, Chevron Technology Ventures.
Other key retail gas station players in the EV charging arms race include Kum & Go (Maverik), Buc-ee’s, Pilot, and Sheetz, all installing EV chargers at a rapid pace.
The Verge’s Umar Shakir likens the surge in EV charging stations in the U.S. to the “smartphone charging wars” of the early 2000s, with pricier hardware. Because just like the frustration of realizing there’s no USB-C port available when you need it and the need for standardization for device charging, the race between leading EV charging hardware components, CCS and NACS is heating up. Ford, GM, Toyota, Rivian, Volvo, Polestar, Nissan, Mercedes-Benz, Jaguar Land Rover, Fisker, Hyundai, Stellantis, Volkswagen, and BMW have all signed on to use the new NACS port for their new EV models in the U.S. NACS refers to North American Charging Standard, the rebranded name of Tesla’s EV charging connector, which the company opened up for standardized use. However, the first of the new NACS-equipped vehicles won’t roll off assembly lines until the 2026 model year.
The allure of the ChargePoint technology for Chevron is that it “automatically delivers the right connection for your car,” eliminating the need for an adapter.
Underlying the importance of emerging EV charging technologies and infrastructure expansion is the portfolio planning, pre-construction site prep, and safe excavation for hubs required by every EV charging installation company. That’s where GPRS comes in.
Our 99.8%+ accurate utility locating and mapping, guaranteed accurate concrete scanning, and 3D above and below-ground existing conditions capture allows us to capture the precision data EV charging installers need to safely complete their projects. GPRS’ national Rapid Response team of SIM-certified Project Managers means we can usually be on site within 48 hours of your call, if not sooner. And, our industry-leading site and facility data management software, SiteMap® (patent pending), can put you in complete control of your data, allowing you to securely access and share vital information with contractors, subs, trades, and stakeholders, from anywhere, 24/7.
So, whether you need a basic locate before excavation, or require fully integrated above and below-ground 3D conceptual site models for multiple sites nationwide, GPRS and SiteMap® can help you Intelligently Visualize The Built World® to bring your projects in on time, on budget, and safe.
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Frequently Asked Questions
Who installs EV charging stations?
Anyone who has met the U.S. Department of Energy’s requirements procurement process requirements knows that there are many contractors who claim they install EV chargers, but as with any infrastructure project, hiring a certified electrical contractor, general contractor, and a private and public utility locating & mapping contractor with proven track records with EV charging installation is important.
How much does it cost to install an EV charging station? (public and private)
The base cost of a commercial EV charging station is between $1,000 and $2,500 according to information from the EV Charging Summit. However, that is merely the cost of the unit itself, and those costs change dramatically when looking at home installations.
A Level 1 private (home) EV charger will cost between $300 and $1,000, not including cost to install. A Level 2 home charger, on the other hand, will cost from $700 - $1,800, again not including installation, and commercial public units can cost $12,000 or more for commercial installation.
To help keep costs low, doing your due diligence with complete subsurface facility mapping prior to any excavation is crucial. Accurate utility locating and concrete scanning can mitigate the risk of damages caused by utility strikes and prevent accidents.
