Sharge upbeat on EV charger sales

Sharge upbeat on EV charger sales

Mr Peerapatr based the forecast on the state policy to increase the number of EVs.
Mr Peerapatr based the forecast on the state policy to increase the number of EVs.

The government's electric vehicle (EV) promotion policy and pandemic-induced concerns over a degraded environment are expected to help Sharge Management Co make an exponential leap in its EV charger sales to 20,000 from 250 units within five years.

Sharge managing director Peerapatr Sirichantaropart based the forecast on the government's policy to increase the number of EVs on the road by 300,000 by 2025.

The suitable quantity of charging facilities should be one charger per three EVs, according to an estimate by McKinsey & Company.

People are currently driving 40,000 EVs while the number of chargers stands at only 6,000 units.

With the 300,000 EV goal, the charger numbers must increase to 100,000 nationwide.

Covid-19 outbreaks can also be factored in to the increase in EV usage, said Mr Peerapatr.

"The pandemic makes people become more interested in battery-run cars out of their growing concern over the environment. Some of them believe Covid-19 may be partially linked with a degraded environment," he said.

The number of EVs in the global market was 1.7 million last year and will rise to 8.5 million in 2025, said McKinsey & Company.

Mr Peerapatr said 80% of EV drivers will have their cars charged at home while the remaining 20% prefer using outdoor charging services during their journeys.

Sharge expects its total revenue to reach 3 billion baht in 2025.

Last year, it sold a total of 250 chargers. Up to 200 of them are home chargers, followed by 26 installed at shopping malls and 24 installed at office buildings.

Mr Peerapatr said the charger target can be achieved if prices of home chargers become more affordable among prospective EV buyers.

Sharge's home chargers are priced at 40,000 baht per unit, but buyers have to pay another 30,000 baht to install an electricity system.

This year the company plans to team up with energy firms and utilities agencies to build more infrastructure to expand the EV ecosystem.

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