Universal EV Chargers Announces 2022 Achievements And 2023 Outlook
News provided byACCESSWIRE
Feb 08, 2023, 1:55 PM ET
Electric Vehicle Charging Company Gained Recognition as an Aggressive Industry Challenger in 2023
PLANO, TX / ACCESSWIRE / February 8, 2023 / Universal EV Chargers, a division of Universal Green Group, announced a successful year of growth that has positioned the company as a vital player in the electric vehicle (EV) charging industry. Universal EV Chargers' advanced charger designs, quality service and unique market insights have resulted in ahead-of-plan installations and nearly $18 million in grants to install public access chargers across the U.S.
2022 Universal EV Chargers Achievements Include:
- Delivery and installation of its first advanced universal EV chargers
- Intertek and Underwriter's Laboratory (UL) certifications
- Approved vendor status from Hyatt, Hilton, Marriot, Choice, Wyndham and IHG Hotels and Resorts
- Grant wins in Texas, Ohio, North Carolina, New Jersey and Massachusetts totaling nearly $18 million
Riding a wave of EV transition in the United States encouraged by federal legislation, the high cost of gasoline and diesel fuels and the proliferation of EV models from major automakers, the company has achieved something very few businesses have…it has entered the market at a highly desirable time.
"Universal EV Chargers' success in 2022 was driven largely by our industry-leading vision for U.S charging infrastructure and our thoughtfully designed EV chargers, but also by hitting the market at the beginning of a tsunami of EV expansion," says CEO Hemal Doshi. "Our year one experience has emboldened us to continue pursuing our vision to be a part of the United States' charging infrastructure in a meaningful way."
Universal EV Chargers' strategy is to focus on installing EV chargers in locations that provide EV drivers with companion services they can use while their EVs charge. These might include Wi-Fi, restrooms, entertainment, snacks and so forth.
Projected EV Charging Industry Trends for 2023
U.S. EV and EV Charging Trends
Battery Electric Vehicle registrations indicate the number of EVs on the road outweighs the number of EV charging locations available. There are currently 2.3 million EVs in the U.S., and this number is projected to increase rapidly in the next year. However, only 56,000 charging stations are currently available for EV drivers in public places - this pressures EV charging companies to expand their manufacturing capacity to accommodate the rapidly growing industry.
The U.S. government's plan to build a national network of 500,000 charging ports by 2030 is already in motion. Universal EV Chargers is an active participant and champion for the expansion of a nationwide EV charging network that will massively affect the EV charging industry in 2023 and through the planning horizon (2030 and beyond).
Several funding sources were established over the last five fiscal quarters, most importantly the Bipartisan Infrastructure Bill, which earmarked funds to purchase EV chargers through the states (among a host of other infrastructure investments) and the Inflation Reduction Act, which provided tax incentives that supported the EV industry and a host of other national objectives.
"In 2021 and 2022, we saw historic funding and modernized tax incentives in the United States for EVs and EV charging infrastructure," said Doshi. "In 2023 and beyond, massive implementation will continue to ramp up markedly."
U.S. electrification infrastructure initiatives are bold, but it is important to understand that the European Union and much of Asia are already outperforming the U.S. market.
European Union EV Trends
While still seeking approval from the member states, the European Union voted to approve a ban on sales of new internal combustion vehicles by 2035. If implemented, this initiative will spur rapid EV adoption and entice EV manufacturers to ramp up production and sales efforts.
Asia EV Trends
Asia is generally at the point of the spear in electrifying transportation since the largest country (China) can mandate changes unilaterally. In fact, China is the undisputed leader in EV sales (both internal and exports), accounting for more than 50% of all global EV sales. While the impact of its recent COVID-19 policy U-turn is murky at present, analysts suggest that loosening restrictions will help to right the economy and improve supply chain issues around the world eventually.
"The last few years have been bumpy due to the pandemic and resulting supply chain issues," said Doshi. "Additionally, battery manufacturing and mineral component issues impacted markets. However, we see each of these issues beginning to ease as markets recover, supply chain issues resolve one way or the other and current research on EV battery design alternatives progresses. In short, the demand for EVs and the need for public charging is higher than current large players can accommodate. Universal EV Chargers will continue to contribute robustly."
For more information about Universal EV Chargers, please visit UniversalEVCharging.com or call (866) 350-2738.
About Universal EV Chargers, a Division of Universal Green Group
Founded in 2009, Universal Green Group is a national leader in sustainable green services, products, technology and projects. Focused on supplying a better future for generations to come, Universal Green Group continually strives to adopt and utilize green technology while making its products the most reliable and financially viable for their customers. Universal Green Group's portfolio of brands includes Universal EV Chargers, Universal Solar System and Universal Real Estate.
Tammy Cancela, TrizCom PR on behalf of Universal EV Chargers
Jo Trizila, TrizCom PR on behalf of Universal EV Chargers
SOURCE: Universal EV Chargers