Electric vehicles are revolutionizing the $13 billion parking industry, creating new revenue streams through EV charging station partnerships. This transformation is particularly significant as EVs become mainstream and rideshare services grow in popularity.

The EV Charging Landscape

EVs and charging infrastructure work together like peanut butter and jelly - both essential for industry growth. With projections showing 2.6 million new EVs by 2025 and Bloomberg predicting 50% of cars being electric within 20 years, the demand for charging infrastructure is surging.

Charging Options:

• L1 (Slowest): Home charging, ~20 hours for full charge
• L2 (Medium): Home/work charging, ~5 hours
• Fast Charging: 90 miles in ~30 minutes

Benefits for Parking Garages

Fast chargers offer several advantages:

• Attracts new customer segments
• Creates high turnover through quick charging
• Generates additional revenue streams
• Supports growing rideshare driver demand
• Fills revenue gaps from declining traditional parking

Airport parking garages exemplify this transformation, converting underutilized spaces into profitable charging stations. These locations serve both regular EV owners and rideshare drivers who need quick charging between rides.

EVgo Partnership Benefits

EVgo, the nation's largest public fast charging network, offers:

• Complete cost coverage (installation, design, engineering)
• Full maintenance and upkeep
• Turnkey "set it and forget it" solution
• Proven track record with major automakers
• Extensive experience in the industry

Future Outlook

The EV revolution continues to accelerate with:

• Growing adoption rates
• Decreasing vehicle costs
• Increasing rideshare platform commitments
• Environmental benefits
• Future compatibility with autonomous vehicles

This transition represents a significant opportunity for parking garage owners to modernize their facilities and create new revenue streams while contributing to a more sustainable future.

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