⚡ What are the costs of building a fast charging hub?

Happy Monday. This is Electric Avenue. We’re like sunshine on a cloudy day - ready to brighten up your mood and push some electrons through the solar panel into your Electric Vehicle. 🌤️🔋

Here's what we have for you today:

• 1 Video 🖼️

• 3 Links 🔗

• Meme of the week 🤡

Let's get into it!

1 Video 📹

In a video by a German blogger Car Maniac, IONITY COO Dr. Marcus Groll gave some insights about the costs of building a fast charging hub and the operational issues harming their network uptime. To save you some time, we summarized the most interesting facts:

What are the costs of building a charging hub?

• Grid connection: between 30k - 120k € but can sum up to several hundred thousand based on local power grid operator with a big influence by the length of the cables and power - 1,2 Megawatt for 6 charging stations

• Transformer (standard product): 120-200k

• Earthworks (laying cables between transformer and charging stations)

• Rent for property or purchase of the land (for larger charging hubs, IONITY prefers to purchase the property)

• Charging stations: 300k-400k € (for 6 charging stations)

Total costs for a charging hub with 6 stations: roughly 1 Million Euro

• optionally IONITY started to equip some charging hubs with a roof-top which adds 100-200k and prolongs the construction because of building regulations

Insights about repair and maintenance of the charging stations

• Cables, displays, and charging station controllers are the top three reasons for on-site repair

• IONITY operates a spare parts warehouse in Munich to shorten delivery times and mitigate shortages

• In-house electricians (equipped with E-Vito Vans - Nice 👏) are ready to be dispatched across Europe

• The internal system allows remote diagnosis and repairs through remote updates or resets

• Internal target of three days for repair of charging stations

Video in  🇩🇪

3 Links 🔗

• EV Road-trip video by new Electrify America CEO 🐾: "Eating your own dog food" 🐶 - We like to see managers working within the EV industry putting themselves into the shoes of the customers and being honest that not everything works as it should. The future CEO of Electrify America took a 2,800 miles trip in an IONIQ 5 and recharged at 28 Electrify America charging stations.

• Ford EV earnings aren't looking pretty 📉: For the first time the company published the EV segment financial results separately. Because of retooling its factory in Mexico to boost production of the Mach-E, Ford EV wholesale unit decreased to 12k (compared to 18k in Q1 2022) with an increased loss of $0.7B and -102% EBIT margin. Additionally, with the reopening of orders for the Mustang Mach-E, Ford cuts prices (up to $4,000) to stimulate demand.

• Google Built-In Update 🍿: Over-the-air software updates will add some nice applications for cars with Google Build-In, among them:

  • video calls - Microsoft Teams, Zoom, Webex by Cisco

  • video streaming - YouTube (owned by Google)

  • games - GameSnacks platform that offers bite-sized games like Beach Buggy Racing 2, and Solitaire

  • navigation - community based navigation service Waze which recently got EV capabilities

  • for more details about Google Built-In, check out our recent article "⚡ iPhone on wheels vs. Android tablet in your car"

Memes of the Week 🤡

That's a wrap for this week! Let us know how you feel:

Reader Review of the Week

Selected ⚡️⚡️⚡️⚡️⚡️ Freakin´ awesome on  ⚡ InCharge V2X chargers, Tesla impact report and wrote: 

"“Felt like getting a cold cup of mineral water straight into the face, again fresh delivered interesting information”"

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DISCLAIMER: None of this is financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. The Electric Avenue team may hold investments in the companies discussed.