EV Charging Sees Investment


As more EVs (electric vehicles) hit the roads, drivers need more convenient places to recharge. Companies are interested in the potential of the charging space, and their interest is translating into investment dollars.

One EV charging provider, Car Charging Group, www.carcharging.com, recently announced it has received a $1 million investment, and it expects to receive an additional $1.5 million investment within 60 days of the initial financing. The company is headquartered in Miami with offices in California, and it provides an electric-vehicle charging service to commercial and residential property owners.

According to Car Charging Group, there are significant opportunities for EV charging in Europe, in addition to the U.S. The investment will help the company to speed up its initiatives in Europe, and investors will receive rights to 5% of Car Charging Europe, a foreign subsidiary Car Charging Group is in the process of forming.

EVs are seeing significant interest in Europe, partly due to factors such as high fuel prices and government support.

In the United States, major automakers continue to invest greatly in EVs, all looking to provide that next great fuel-efficient vehicle experience. It was recently announced, for example, that the 2012 Ford Focus Electric, www.ford.com, has been certified as the most fuel-efficient five-passenger vehicle in the United States with its 100 mile-per-gallon equivalent city rating, according to the U.S. Environmental Protection Agency.

Packed with all the latest that Ford has to offer in the area of in-vehicle connectivity, the 2012 Ford Focus Electric is a good example of a vehicle that is vying to provide drivers with the right blend of safety, convenience, and infotainment.

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