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ChargePoint is adding 2.5M electric car chargers over a subsequent 7 years

Electric vehicles still make adult only a fragment of a cars, trucks and SUVs on a highway today. But that’s changing: The series of electric and plug-in hybrid cars on a world’s roads exceeded 3 million in 2017. By 2025, there are approaching to be 20 million electric vehicles in only North America and Europe.

And that means a universe is going to need a lot some-more chargers.

ChargePoint, the California startup that provides infrastructure for electric vehicles, pronounced Friday it will enhance a network of chargers scarcely 50-fold over a subsequent 7 years. The company, that has some-more than 53,000 chargers in operation today, has committed to a tellurian network of 2.5 million charging spots by 2025.

The infancy of these new EV chargers will be uniformly separate between Europe and North America, with smaller percentages in Australia and New Zealand, a association pronounced Friday during the Global Climate Action Summit.

ChargePoint has lifted some-more than $292 million given a initial in 2007. It’s used a supports to supplement chargers to a network, including an enlargement final year into Europe. The company secured an $82 million appropriation round, led by automaker Daimler in May 2017. A month after a association announced another $43 million in appropriation from German engineering hulk Siemens to accelerate a European expansion.

The network enlargement comes during an portentous time for automakers, a series of that are formulation to hurl out electric vehicles in a subsequent several years. Tesla has a possess network of chargers that it calls superchargers. The automaker has invested heavily to build out a network, that is now 1,342 stations with 11,013 superchargers globally.

Only Tesla vehicles can use that network, that aims to foster long-distance travel. Other automakers that are commencement to sell EVs will rest heavily on third-party EV providers like ChargePoint. It’s estimated that during slightest 40 new electric car models will be introduced in a subsequent 5 years. Jaguar will start delivering a initial EV, a i-Pace crossover, to business in a U.S. this fall. Audi skeleton to deliver a initial electric vehicle, a e-tron, on Monday.