In a significant development for California’s electric vehicle infrastructure, the Golden State now boasts one EV charging station for every five gas stations.
What Happened: As reported earlier by Teslarati, the office of Governor Gavin Newsom announced that California now has 105,000 public or shared private EV chargers. This figure surpasses the one-fifth marker of the approximately 10,423 retail gas stations in the state, according to 2021 data from Statista.
While the state still has a long way to go before EV charging stations outnumber gas refueling stations, California is leading the U.S. in achieving multiple EV goals, especially considering its 2035 ban on new gas car sales.
See Also: Best EV Penny Stocks
California’s EV charging infrastructure and overall adoption of battery-electric vehicles (BEVs) are the highest in the country. The press release stated that if California were a country, it would rank fourth in global EV sales, following China, the U.S., and Germany. In 2023, one-third of all U.S. BEV sales occurred in California.
California has a total of 1.8 million zero-emission vehicle (ZEV) sales to date. The state recently approved a $1.9 billion plan to install up to 40,000 new public EV chargers. This announcement comes as Tesla Inc. TSLA has begun opening its Supercharger network to other EV brands, starting with Ford and Rivian.
Why It Matters: California’s EV market has seen significant growth, with Tesla dominating new vehicle sales in 2023. The state’s commitment to EVs was further underlined by a $2,000 EV credit for residents, making EVs more affordable.
However, traditional automakers like Toyota continue to sell large numbers of combustion engine vehicles in the state. The recent milestone in EV infrastructure signals a shift in this trend, with California pushing for a greener future.
Read Next: Another Blow To Tesla? Hertz’s EV Disposal Plan Jumps By 10K
Photo via Shutterstock
Engineered by Benzinga Neuro, Edited by Ramakrishnan M
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.