15 Dec 23

Will You Seize the Opportunity to Advance EV Charging in Canada?

Listen to this article

Audio file
Text

Drivers are finding more public electric vehicle (EV) charging stations throughout Canada. A CBS article summarizes data from Transport Canada, listing how many charging stations are available in each province. For example, there are 1.88 fast-charging stations per 100 EVs in British Columbia, 2.15 in Quebec, 3.09 in Ontario, and 5.11 in Alberta. Data shows higher ratios in less populated provinces; however, there are no fast chargers in Northwest Territories or Nunavut.

While the number of EV charging stations may meet current demand in many locations, analysts predict demand will dramatically increase in the next few years. With federal laws mandating 100% of new cars and light trucks sold must be zero-emission by 2035, an analysis by Natural Resources Canada determined the country will need to increase implementations to a level of 5 charging stations for every 100 EVs on the road by 2025 and have a total of about 444,000 EV chargers in service by 2035. That’s more than 20 times the 20,000 operating today.

EV Charging Station Partnership Opportunities

With demand for this infrastructure poised to skyrocket, solutions providers have an opportunity to grow their businesses while meeting a critical need. Strategic partnerships are key to designing, building, implementing, and maintaining EV charging stations. Automakers must work with engineers and original equipment manufacturers (OEMs) to design and build EV charging equipment and develop software to run and manage them. OEMs must also work with supply chain partners to provide the components for chargers and with channel partners and service providers to install, maintain, and service these systems.

EV charging station providers must also establish an important relationship with another partner: a payment technology company. Initially, automakers and OEMs intended to manage payments through apps, much like apps that allow drivers to pay for metered parking. With EV charging, the driver would pay monthly or choose a “pay-as-you-go” plan through the app and authenticate the payment at the charging station. However, this payment method isn’t inclusive enough to give every driver access to EV charging. Some people may not have access to a smartphone when their vehicles need charging. Others may prefer using a credit or debit card, particularly if driving a rental EV. To make EV charging more accessible to all drivers, charging stations should include integrated payments. This design allows drivers to use their preferred payment method and quickly get their vehicles back on the road.

Innovators Will Succeed with EV Charging in Canada

While there is little doubt demand for EV charging in Canada will grow, companies that succeed in this market will anticipate and solve challenges. Barriers to efficient EV charging in Canada successful companies will overcome include:

  • Charging time

Fast chargers are available in some locations, allowing drivers to add about 200 miles of range in about a half-hour. However, that time is likely to vary. A Science Direct article details research that shows an EV battery added 36% less energy at 0°C compared to charging at 25°C. Successful EV charging station solution providers will address the impact of temperature on charging efficiency at lower temperatures and also ensure that all EV charging station components are designed to withstand extreme Canadian winters.

  • Reliability

EV charging stations need to stay connected to the provider’s network. Innovators will find ways to ensure maximum uptime with multiple connectivity options and failover so drivers can rely on charging and payment functionality.

  • Safety, security, and comfort

EVs won’t only need charging during daylight hours in convenient locations. Successful providers will ensure that EV charging stations are located in safe, well-lit areas, close to buildings and amenities, allow drivers to call for help if needed, and deliver good user experiences.

  • Maximizing revenues

Operating and maintaining EV charging stations will require investment, and providers must find the balance between keeping charging affordable – where competition is likely – and covering costs. One option is to create an opportunity for digital advertising on charging stations to engage drivers, help them pass the time, and create a revenue stream that makes the charging station profitable.

Is Your Business the Key to Advancing EV Charging in Canada?

As a solutions provider and tech innovator, your skills, expertise, and innovative ideas may be the key to optimizing EV charging station user experiences and overcoming challenges so they operate reliably at peak performance 24/7/365. Will you seize this opportunity to fill a crucial need across the country and grow your business?

Ingenico is ready to partner with you to enable secure payments facilitated by rugged, reliable unattended payment devices. Contact us to learn more.

Author

Greg Scott

Head of Sales

Ingenico Canada

Also in Tech trend

21 Feb 24
Why Merchants Must Accept Contactless Payment Methods in Canada
08 Jan 24
Retailers: Keep A Close Watch on These Payment Trends in 2024
14 Nov 23
How Tap on Mobile Will Change the Payments Landscape
27 Sep 23
Android Payment Technology Empowers Merchants to Deliver In-Demand Customer Experiences
30 Aug 23
The Game-Changing Benefits of Cloud-Based Payment Device Management
16 Jun 23
How Sustainable Payments Contribute to Environmental Protection
13 Apr 23
The Coming Shift to Android Payment Terminals in Canada
14 Mar 23
Why More Transactions Are Starting on Android Terminals
prev next