Why EV Chargers Are Booming Despite Slumping New Car Sales

Core Insights - Despite a significant decline in US electric vehicle (EV) sales, the demand for public charging infrastructure remains strong, with companies like ChargePoint Holdings Inc. reporting a 7% increase in sales in Q4 2025 [1][2] - The cumulative number of EVs on the road, currently around 5.8 million, is a key driver for the charging business, as more drivers rely on public charging stations [2] Company Developments - ChargePoint Holdings Inc. has seen a sales increase despite a nearly 40% drop in new EV sales compared to the previous year [1] - EVgo Inc. plans to expand its network by adding up to 1,650 new charging slots in the US this year, representing a 38% increase from last year [4] - The average US charging station is experiencing high utilization rates, with EVgo's network doubling the number of charging cords over the past three years [5] Market Trends - The US added approximately 11,300 ultra-fast charging cords last year, a 48% increase from 2024, with nearly 25% of new chargers capable of delivering 250 kilowatts or more [4] - Analysts suggest that despite declining EV sales, the charging infrastructure can still improve, as there are currently more EVs than fast charging stations available [8] - The used EV market is growing, attracting cost-conscious consumers who may not have access to private charging facilities, while rideshare and autonomous taxi fleets continue to electrify [10] Future Outlook - Analysts predict that the charging infrastructure will continue to grow, although the utilization rates may not decrease immediately [7] - Companies are planning for long-term growth, with a focus on infrastructure development aimed at 2035 rather than just the next few years [11]