Equipment Finance News

No products in the cart.

SUBSCRIBE
  • News
  • Event
  • Data
  • Features
  • Lender Directory
  • PodcastNew
  • WebinarsNew
    • Webinar Library
  • Login
Log In
No Result
View All Result
  • Dealers
  • Lenders
  • Transportation
  • Agriculture
  • Construction
  • Materials Handling
  • Rentals
  • Compliance
  • Bankruptcy
  • Data Analysis
Equipment Finance News
  • News
  • Event
  • Data
  • Features
  • Lender Directory
  • PodcastNew
  • WebinarsNew
    • Webinar Library
No Result
View All Result
Equipment Finance News
No Result
View All Result

One in five public EV chargers in the US don’t work, study finds

'Charging deserts' are another issue for EV drivers

Bloomberg NewsbyBloomberg News
June 26, 2024
in Transportation
Reading Time: 2 mins read
0
Share on FacebookShare on LinkedIn

Broken and malfunctioning chargers, erratic charging pricing and drivers of regular cars who park in spots reserved for electric vehicles are a significant obstacle to increasing EV sales, a study led by a Harvard Business School fellow has found.

Based on a decade of data obtained from EV drivers’ reviews of charging stations, the research found that charging stations in the US have an average reliability score of just 78%, meaning about one in five don’t work. That’s less reliable, on average, than regular gas stations, lead researcher Omar Asensio said.

“Imagine if you go to a traditional gas station and two out of 10 times the pumps are out of order,” Asensio said. “Consumers would revolt.”

Spotty coverage — or “charging deserts” — are another problem, with entire counties in US states such as Washington and Virginia not having a single public charger. Meanwhile, EV drivers also routinely watch internal combustion engine car drivers park in spots reserved for EV charging.

A Volta electric vehicle (EV) charger in Escondido, California, US, on Sunday, Jan. 29, 2023. Shell Plc agreed to buy US electric-vehicle charging firm Volta Inc. as the fossil-fuel giant works to keep pace with the transition to low-carbon mobility.
(Photo/Bloomberg)

The research is bad news at a time when EV sales growth is slowing. BloombergNEF earlier this month slashed EV sales estimates and warned the auto industry is falling further off the track toward decarbonization. The reliability issues also come despite automakers like General Motors Co. and Stellantis NV investing heavily in charging infrastructure in the US.

In North America, drivers are often finding broken equipment because “no one’s maintaining these stations,” according to Asensio. This leads to “charge anxiety,” rather than the more commonly cited range anxiety that early EV adopters faced.

A lack of functioning chargers could become an even more pressing issue should EV sales rebound.

S&P Global Mobility estimates there’s a need for around 1.2 million Level 2 chargers — or ones that are able to charge an EV from empty to 80% in as little as four hours — across the US by 2027.

“The transition to a vehicle market dominated with electric vehicles will take years to fully develop, but it has begun,” S&P analyst Ian McIlravey said. “With the transition comes a need to evolve the public vehicle charging network and today’s charging infrastructure is insufficient to support a drastic increase in the number of EVs in operation.”

Asensio’s research was based on an examination of more than 1 million charging-station reviews by EV drivers across North America, Europe and Asia written over 10 years.

— By DShikhar Guptaana (Bloomberg)

Tags: electric vehiclesequipment financeharvard business schools&p global
Previous Post

CDK tells customers dealer system likely down until June 30

Next Post

Equipment loan delinquencies rise MoM in May

Related Posts

Lightship targets equipment fleets with PowerSled mobile battery platform
Transportation

Lightship targets equipment fleets with PowerSled mobile battery platform

July 22, 2026
Einride valuation tops $1 billion as truck startup raises funds
Transportation

Einride acquiring Flipturn for $38.4M, expanding EV charging network

July 21, 2026
Volvo Group M&A
Transportation

Volvo Financial Services’ portfolio grows 4% in Q2

July 17, 2026
Next Post
Construction at the Toll Brothers Borello Ranch Estates housing community in Morgan Hill, California, US, on Tuesday, June 4, 2024. Toll Brothers Inc. is scheduled to release earnings figures on June 20.

Equipment loan delinquencies rise MoM in May

Proud Member Of

Check Out Our Industry Event

Stay Informed With Our 8 Newsletters

The Dig Podcast

Dealer Operations

Lender M&A: Huntington expands Texas presence with $1.9B Veritex acquisition

Scag Power Equipment partners with Huntington, Octane

July 22, 2026
Equipment dealership vendor

Inventory financing shifts to ‘just in time’ as dealer demands change

July 9, 2026
Jack Doheny acquires Vacuum Truck Rentals with $175M from CVC

Jack Doheny acquires Vacuum Truck Rentals with $175M from CVC

July 8, 2026
  • About Us
  • Advertise
  • Contact Us
  • Privacy Terms
  • ADA Compliance

 [wt_cli_manage_consent]

Connect with us

© 2026 Royal MediaRoyal Media

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • News
    • All News
    • Dealers
    • Lenders
    • Transportation
    • Agriculture
    • Construction
    • Material Handling
    • Rentals
    • Compliance
    • Data Analysis
  • Event
  • Data
  • Features
  • Lender Directory
  • Podcast
  • Webinars
    • (Upcoming Webinar – Dec 9) Tech-driven risk management: How innovation is reshaping equipment finance
    • Webinar Library

© 2026 Royal MediaRoyal Media