EVPowerPulse Issue #30

ChargePoint using AI to improve reliability, the Joint Office provides a Q3 NEVI update, and Indiana’s EV charging highway is complete.

Author

Steve Taylor
September 14, 2024

Illustrated by Kaylin Duynstee

Getting started with EV charging can seem complicated, but it doesn’t need to be. Let Automotive Charging Solutions (ACS) help you navigate the world of EV charging with their free “Guide to EV Charging.” It covers everything from charger types, industry trends, financing options, and more. Download yours today.

Hi everyone,

Here are today’s stories:

  • ChargePoint unveils AI tool after a disappointing Q2 and layoffs.

  • We share a Q3 NEVI update from the Joint Office.

  • Indiana has completed construction on its wireless EV charging highway segment.

Enjoy this morning’s issue. 

–Steve 

Current EVents

EV Industry Updates

ChargePoint is navigating headwinds amid slower EV sales growth, reporting second-quarter revenues of $109M, a 28% decline from $150.5M in Q2 last year. This underperformance triggered a nearly 18% drop in its stock price.

In response, ChargePoint is enacting strategic shifts, including a 15% reduction in its workforce, largely in sales and marketing. President and CEO Rick Wilmer described this move as a proactive step to streamline operations and boost efficiency.

Despite the current market slowdown, Wilmer remains confident about the broader electric transportation future. While battery-only EV sales have stagnated, plug-in hybrid sales surged 59% in the first half of the year. Wilmer also pointed to aggressive auto manufacturer price cuts in Q2, which spurred a 23% rise in sales compared to Q1 and an 11% year-over-year increase.

To improve its service offering, ChargePoint is leveraging AI to improve charging station performance and reliability. By deploying machine learning to diagnose and resolve station issues remotely, the company aims to reduce downtime and address one of the sector’s most pressing challenges: station reliability.

Steve's Take:

ChargePoint’s financial difficulties and strategic adjustments reflect broader issues in the evolving EV charging industry. The decision to reduce staffing, particularly in sales and marketing, highlights a pivot toward operational efficiency as the market works to find stability.

The contrast between flat battery-only EV sales and an increase in plug-in hybrid purchases highlights that while electrification is gaining momentum, range anxiety and infrastructure limitations continue to influence consumer purchasing behavior.

ChargePoint’s adoption of AI for station diagnostics and maintenance is a smart, forward-looking move. However, the company and its peers must balance cost-cutting with strategic investments in technology to stay ahead. As new EV models hit the market, reliable and widely accessible charging infrastructure will be crucial to supporting the industry’s next wave of growth.

–Steve

Power and Policy

The NEVI Formula Program has made significant headway in expanding the U.S. charging network, as highlighted in the Q3 2024 update. Since the Biden-Harris Administration took office, the national charging network has doubled, now boasting nearly 192,000 publicly available charging ports—an increase of 9,000 in just the past three months.

Notably, 69 NEVI-funded charging ports are now live across 17 stations in eight states, more than double the number from last quarter. Utah and Rhode Island launched their first NEVI-funded stations, while Ohio leads with six operational stations and 12 more under construction.

Forty states have released their initial solicitations, with 29 issuing conditional agreements for over 2,800 fast-charging ports at more than 700 stations.

Recent conditional NEVI awards include California ($37.7M for 11 awardees), Connecticut ($52.5M total funding), Alabama ($11.2M for 13 stations), Maryland ($12.1M for 130 ports), Minnesota ($7.8M for 13 locations), and Arizona (18 stations awarded).

Rob's Take:

The rapid expansion of the U.S. charging network under the Biden Administration highlights the impact of federal investment in EV infrastructure, with the network doubling since 2021—a significant milestone that should help ease range anxiety and increase consumer confidence.

Notably, the focus on private-sector collaboration, as seen in the awards from California and Maryland, has been instrumental. This public-private partnership model not only brings additional resources but also ensures long-term commitment to the success and upkeep of charging stations beyond government funding.

While the NEVI program’s progress is encouraging, sustained efforts and careful attention to execution are crucial to fully realizing its potential in transforming the nation’s transportation infrastructure.

–Rob 

Emerging EV Tech

In April, we discussed a wireless EV charging highway under construction on U.S. 231 near West Lafayette, Indiana. That project has now been completed, marking a potentially groundbreaking advancement in EV charging technology.

A collaboration between Purdue University and the Indiana Department of Transportation (INDOT), this innovative highway segment offers wireless chargers embedded beneath the pavement, designed to charge EVs as they drive. This technology could be a game-changer for long-distance EV travel and address concerns related to charging limitations.

Testing will begin this spring, using a semi-truck equipped with a specialized wireless charging receiver to assess the system’s effectiveness. Importantly, regular vehicles traveling over the road will not be impacted by the charging system during this trial phase.

Steve's Take:

The completion of this wireless EV charging highway marks a significant milestone in the evolution of U.S. EV infrastructure. If proven successful, this technology could provide the foundation for a nationwide network of EV-charging highways, complementing existing charging stations and transforming long-distance travel.

This innovation holds particular promise for the trucking industry, with the potential to accelerate the electrification of freight transport and dramatically cut emissions in the sector.

However, enthusiasm must be tempered with practical considerations. Scaling this technology would require massive infrastructure investment and close coordination between state and federal agencies. Additionally, important questions remain about its efficiency, maintenance demands, and potential effects on road durability.

As we await the results of the upcoming trials, this project highlights how innovative solutions and collaboration between academia, government, and industry can shape the future of sustainable transportation.

–Steve

Featured EV Industry Jobs

If you were impacted by ChargePoint’s layoffs or are looking for a new opportunity in the EV industry, start your job search here:

Former ChargePoint employees can start by joining the ChargePoint Alumni group created by Stephanie Balch.

EV INDUSTRY STAT OF THE WEEK

The Department of Energy reports that the US now has 192,000 publicly available charging ports, with approximately 1,000 more being added each week. This underscores the remarkable pace of infrastructure growth under the Biden Administration.

EV Charging the News

Reply to this email to share your feedback

We read all of your emails and comments. Let us know what you enjoyed or what you’d like to see more of.

Connect With Us

Follow EVPowerInsights on LinkedIn.

Work with us

If you’d like to work with us or sponsor a future newsletter, hit reply or contact us here.

Until next time,
⚡️Steve and Rob

Have friends or colleagues interested in the evolution of America’s EV charging infrastructure? Hit the share button below! If you were forwarded this, you can subscribe here.