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What do thriving businesses do differently than their competitors? What is their competitive edge? The answer’s simple: they possess the ability to anticipate future trends, adapt to them quickly, then position themselves as leaders in these emerging markets.

Right now, with the electric vehicle industry becoming one of the most rapidly emerging markets around the world, forward-thinking companies are considering entering this space by creating their own EV charging station business – and through doing so, they plan to utilize this unparalleled opportunity for innovation, profitability, and long-term impact. 

But why is EV charging such an intriguing business prospect? Not just because the EV demographic is growing – although of course it is, and the data shows us that drivers are also typically linked to higher disposable income rates, making them a particularly valuable customer base. But the growing financial support for charging station businesses (in the form of various grants, incentives, and rebates on a local and global level) can offset initial costs and decrease the need for capital investments considerably, making electric transportation an especially attractive investment. 

(Committing to a sustainability-centred business can also add brand value and make a company that much more alluring to potential customers, as well as becoming a financially rewarding effort.)

With all these benefits attached to launching an EV charging station business, it’s easy to forget that there are several different factors to consider when entering this particular market.

While the EV revolution is definitely gaining ground each day, the practicalities of charging – from the necessary technology, equipment, and hardware to the multiple business models and revenue strategies to choose from – mean that creating an EV charging station is a significantly complex project. Which is why we’ve collected all you need to know into this quick overview, based on our own experience of working with new entrants into the EV industry here at Monta: 

  • funding opportunities, 
  • business models, 
  • the different elements of an EV charging station business, 
  • compliance guidelines
  • cost savings
  • the most frequently asked questions from our own clients,

all of which will illuminate your company’s road towards becoming a future-ready, financially stable EV charging station business.

Finding funding for your EV charging station business

The number of grants, rebates and other types of financial support for EV charging companies has been steadily growing for the last few years. As part of a global push for more sustainable energy sources, the Connecting Europe Facility (CEF) for the Transport Programme – Alternative Fuels Infrastructure Fund (AFIF) in the EU recently chose 42 companies to support with 424 000 000  EUR – but funding opportunities don’t stop there.

In fact, EV charging initiatives on both sides of the Atlantic have multiple options by now to secure financial support on different levels: 

All these different grants and incentive programs have the same goal: to offload your charging infrastructure costs and increase the chances of your charging station’s success. And with new programs appearing continuously, the first thing you need to do when planning your new business is explore which of these programs you qualify for – it will significantly decrease your financial load. 

Which business model fits your EV charging station?

Finding funding – while important – isn’t the only strategic element of your future company. One of your most important early decisions will be your chosen business model: it will determine your way forward into this fascinating world of the electric vehicle charging, the technology you’ll need to purchase, the locations you’ll need to explore.

In our comprehensive overview of EV charging station business models, we grouped the most popularly used business models according to several factors (from revenue strategies to ownership structures) and even up-and-coming hybrid models, like charging systems that switch between pay-per-use and free charging according to how they’re used. One thing’s certain: there are several alternatives to consider. 

And while this may seem like yet another complexity of launching your own EV charging station business, in reality, it’s a blessing in disguise. With so many models to choose from, you can evaluate the parameters most relevant to your business – based on your capital investment, which revenue strategy-based business model is the most financially viable for your new company, let’s say – and make your decision accordingly.

If your chosen business model aligns with the reason why you’re entering the EV charging universe in the first place (as well as your previously explored funding background), it will be a good fit.

Would you like to discuss your many charging station business model options with someone to help you decide on the perfect choice? Here at Monta, we’ve supported dozens of companies making their first steps in the world of EV charging infrastructure – just let us know, and we’ll set up an online chat with you in the next few days.

The main elements of your electric vehicle charging station business

Once you’ve chosen the perfect business model for your new company, several things will fall into place – from the type of EV charging infrastructure you’ll want to purchase to the partnership and location options for your new station itself. Whether you’ll be building and managing it yourself, choosing an e-Mobility Service Provider (EMSP) to provide your driving customers with access to a charging network, or even buying some existing stations to speed things up, you’ll need an understanding of what an EV charging business consists of. Luckily, it’s fairly straightforward: the two main elements are the charging station itself, and the operations surrounding it.

What type(s) of infrastructure do you need for your EV charging station?

When it comes to the EV charging station itself, your fundamental components will be:

  • Chargers – depending on your business model, you’ll want to purchase AC or DC fast chargers as the core ingredient of your new station. Since your charging speed will determine how much time your customers spend at your site, you’ll need to decide which option is more valuable to you: providing slower AC charging to serve customers staying for a longer time, or DC fast charging for faster top-ups for drivers on the go.
  • Cables and connectors –  so your customers will find all the equipment they need to connect to the EV chargers at your station. Plan for different types of connectors to ensure your compatibility with different brands.
  • EV charging software platform – this will enable your customers to manage their charging experience themselves (hopefully with an integrated payment system), as well as become a two-way communication system that tracks and manages your charging data for you. Here at Monta, our powerful Monta Hub platform combines these features with a uniquely user-friendly interface, enabling drivers to self-serve at EV charging stations with ease and confidence.
  • Supporting structural elements – finally, whether you’re extending an already existing gas station or building your EV charging station in a previously untouched location, physical features like roof structures, beams, and posts will become crucial parts of your final structure, not just to provide shade or shelter for your customers but also to help preserve your equipment from excess rain, sunlight etc. 

What will the business operations surrounding your charging station be like?

Because the different components of EV charging stations are prime feats of modern engineering, the businesses built around them will have to prioritise two specific functions (or teams):

  • Maintenance – to keep your EV charging infrastructure in working order, regular and ongoing maintenance will be essential. If this isn’t a true priority for your business, repair costs will significantly impact your long-term budget and availability – so be proactive and create a maintenance protocol that keeps your existing electrical infrastructure functional and up-to-date all through the year.
  • Support – since EV charging is, by and large, a self-serving process for your customers, top-quality support is essential to deal with any occasional hold-ups or charging issues they may experience. Not only does this mean that a robust Support team will be necessary for your business, but that you should provide the necessary technology for your customers to contact them (and for them to support your customers) as needed.

Regulations and compliance for your EV station business

Now that you have a clear overview of what you need to launch your EV charging station business, it’s also essential to know that it’s compliant with all local and/or regional regulations. By now, the EV industry has become strongly regulated – mainly in order to unify an originally somewhat fragmented landscape, as well as guaranteeing accessibility for drivers everywhere – and non-compliance mostly results in heavy penalty fees, making it all the more crucial to be aware of these regulations and how they affect your business.

In the EU, country-level regulations (such as the UK’s enhanced public charging regulations in 2024) are key to consider first. However, higher-level compliance protocols like the AFIR regulations or the recently introduced NIS2 Directive for cybersecurity standards in the EU are also important to keep in mind (so much so that we’ve even put together our own whitepaper on the matter).

Meanwhile, the Alternative Fuels Data Center in the US has a list of requirements for all newly established EV charging stations, and the previously mentioned NEVI program also lists a set of criteria for all participating companies. (International standards such as the SAE International should also be on your checklist, although most regional regulations already include their safety requirements for stations and infrastructure.)

One more thing to remember when talking about industry regulations is that – because of the ever-evolving industry itself – the regulations of today may become slightly altered tomorrow, in order to remain synchronized with the latest technological developments in EV charging.

public charge point regulations in the UK

As a charging station business, you should always keep your finger on the pulse of upcoming regulations and protocols; or better yet, choose an EV charging software platform that’s proactively compliant (like our own Monta Hub), so you never need to worry about it again. 

What else do you need to know about your EV charging station business?

Naturally, all this information about funding and launching your new business (as well as ensuring its compliance with EV regulations) is just the tip of the iceberg. Here at Monta, we’ve noticed that the companies we’re supporting on their journey to a successful EV charging station business still have some questions during their first few steps – some of which we’ve collected and answered here to help you on your journey too.

How will my EV charging station be technologically compatible with different EV brands?

This is an absolutely valid concern: once you’ve invested your capital into a specific charging infrastructure, it makes sense to want to reach the broadest range of customers possible. With such a wide variety of electric vehicles on the road, the best solution is to adopt the OCPI/OCPP protocols to promote interoperability within our chargers, offer several different connector types so that all customers can connect to our EV chargers and update our charging software regularly.

click update integration button monta portal
Integrating a charge point to Monta's EV charging software

This is something our Monta Hub product does automatically. From a strategic point of view, you can also prioritise compatibility, interoperability, and roaming features when choosing charging networks to partner with for your EV charging station.

How do I make sure to choose the best location for my EV charging station?

This is where your chosen business model will help narrow down your options. Whether you’ve decided to install your EV charging station as a home charging station, a public charging station, a workplace charging station, or you’re even considering a destination charging setup, as a general rule, you’ll want to select a high-traffic area with great accessibility.

You can use EV adoption data to analyse your locations if you want to safeguard your selection, or even leverage your pre-existing partnerships with e.g. property owners to increase your expected utilisation rates.

In such a fast-evolving industry, how can I future-proof my EV charging station business?

When it comes to the EV charging industry, scalability is key. This means that you need to make your EV charging station business scalable from its inception. On a practical level, this can mean choosing modular charging hardware that’s easier to update if necessary, as well as staying informed about regulations, emerging markets (like e.g. heavy-duty electric vehicles), and upcoming trends that might significantly impact the entire industry – like renewable energy integrations such as solar panels or energy storage systems.

How much will the ongoing maintenance of my charging infrastructure cost?

Like we said before, proper maintenance is essential for the long-term health of your EV charging station business – and while it will cost you less than the alternative, it still has its own price tag. While there’s a large variation of charging-related maintenance costs around the world, a ballpark amount for Level 2 chargers would be 200–500 EUR per charger (which would cover basic inspections, software updates, and minor repairs). For DC fast chargers, which require slightly more intensive maintenance, related costs could range from 1500-3000 EUR each year, depending on usage rates and the complexity of the hardware itself.

How can I ensure that my EV charging station business is attractive for drivers?

Perhaps the most essential question of all – because, ultimately, your EV charging station business will only be as viable as it is popular. From what we’ve seen here at Monta, the two most attractive elements for EV drivers in their charging experience are dynamic pricing and a stellar user experience (which is why we’ve made these a cornerstone of our own offering as well).

Reliability, accessibility, and a truly robust Support function are also crucial assets. And if you still want to go the extra mile, think about your charging station as the ultimate destination charging experience: You can offer perks like WiFi, comfortable seating areas, or retail options to keep your customers coming back whenever they need to charge their electric vehicles.

Set the tone for a greener tomorrow with your EV charging station business

Taking a step back, it’s clear to see that the industry is gaining ground each day for a reason: charging is an essential process of our collective future on this planet, which makes it an intriguing opportunity for progressive businesses. While there are, admittedly, some complexities attached, once your business finds the ultimate combination of funding, the right model, the most valuable partners, and satisfied customers, you’ll never look back. 

And if you’ve already decided to take the leap and start working towards launching your own EV charging station business: here at Monta, we’re here to help you every step of the way.

Let’s get talking about your EV charging goals – we’re happy to help.

Monta

Monta is the operating platform powering the EV ecosystem serving drivers, companies, cities, and the electricity grid with one integrated software solution.