A lot can happen in seven years, and if ChargePoint follows through on its new promise, it would definitely fall under the definition of "a lot."
ChargePoint announced today that it intends to expand its network of electric vehicle chargers in a very big way. It hopes to have 2.5 million charging spots up and running in 2025, which would represent a roughly fifty-fold increase in chargers over its current network of approximately 54,000 chargers. That's yuge.
The chargers won't be limited to the US, although having 2.5 million chargers in the US alone would go a long way in reducing range anxiety concerns. ChargePoint says that, of its 2.5 million chargers, most will end up in Europe and North America, with a smaller chunk designated for Australia and New Zealand. ChargePoint has focused largely on the US as it expands, but it entered Europe in 2017, too.
"Our commitment to deploy 2.5 million charging spots by 2025 comes as the company embarks on the most significant period of growth in our history and in the midst of a revolution in transportation," said Pasquale Romano, president and CEO of ChargePoint, in a statement.
Now is a good time to start expanding networks in a big way. ChargePoint estimates that 40 new EV models will come out in the next five years, and having a massive network of chargers will help entice buyers to go electric. As EV ranges push toward 200 miles and beyond, there's less concern of being somewhere without juice, but littering the landscape with chargers will still provide extra peace of mind.
ChargePoint is far from the only company working to develop large-scale charging infrastructures in major EV markets. Electrify America, a subsidiary of Volkswagen of America, said in May that it hopes to begin construction on by the end of 2019, creating cross-country corridors similar to that of Tesla's proprietary Supercharger network. In Europe, a group of automakers banded together to form Ionity, which hopes to create by 2020.