Electric Vehicle Charging Station Market Size by 2028 : Global Demand and Regional Analysis einnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from einnews.com Daily Mail and Mail on Sunday newspapers.
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The global electric vehicle charging infrastructure market size to cross USD 14 billion in 2026, growing at a CAGR of 36% during the forecast period.
With the increasing funding from government bodies for electric vehicle (EV) adoption, the demand for charging infrastructure is expected to grow. Many countries have recognized the need to go electric to reduce rising emissions, with the US and China leading the race. These countries have taken measures to expand and establish the charging network.
They have encouraged people to opt for these vehicles by offering discounts, tax rebates, and preferential measures, among other things. China, the US, and a few European countries have subsidized the expense of installing an electric vehicle charging station in apartment complexes, semi-public zones, and private residences, which is influencing the market growth.
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Senmiao Technology Announces Strategic Cooperation Agreement with Electric Vehicle Charging Operator Chengdu Xingchong
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CHENGDU, China, Feb. 1, 2021 /PRNewswire/ Senmiao Technology Limited ( Senmiao ) (NASDAQ: AIHS), a provider of automobile transaction and related services targeting the online ride-hailing industry in China as well as an operator of its own online ride-hailing platform, today announced the signing of a strategic cooperation agreement with Chengdu Xingchong New Energy Technology Co., Ltd. ( Chengdu Xingchong ), a subsidiary of Star Charge.
Star Charge is a leading electric vehicle ( EV ) charging operator in China focused on the research & development and manufacturing of new EV charging equipment. According to data released by the China Electric Charging Infrastructure Development Alliance, Star Charge had the second highest number of charging terminals in China as of December 2020.
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Total corporate funding (including venture capital funding, public market, and debt financing) for the Battery Storage, Smart Grid, and Energy Efficiency sectors in 2020 was up by 112%, with $8.1 billion compared to $3.8 billion in 2019. That’s according to a new report from Mercom Capital Group.
Global VC funding (venture capital, private equity, and corporate venture capital) for Battery Storage, Smart Grid, and Efficiency companies in 2020 was 12% higher with $2.6 billion compared to $2.3 billion raised in 2019.
Battery Storage
Total corporate funding in the battery storage sector was up 136% with $6.6 billion in 54 deals in 2020. However, VC funding for Battery Storage companies totaled $1.5 billion in 32 deals compared to $1.7 billion raised in 32 deals in 2019.