The car of the future is fast going green, and businesses are seizing the opportunities presented by a burgeoning new energy vehicle (NEV) market and the aftermarket or ancillary services they create.
At least 2.5 million electric cars will roam the Philippine streets by 2029-2034, according to the Department of Energy. This comes as a significant improvement from the industry’s current estimate of 18,000 to 20,000 by end-2025.
These NEVs (so-called because these are not powered by fossil fuel like gasoline or diesel) will require at least 14,000 charging stations and up to 66,000, going by the DOE’s “clean energy” scenario under its Comprehensive Roadmap for the Electric Vehicle Industry (CREVI).
So far, the DOE has listed 962 (CS) or charge points, indicating the wide space for growth in the CS market as a vital component of NEVs.
Future-ready charge points
The tantalizing prospects sent two conglomerates racing against each other for control or at least for a bigger share of the pie for NEV charging stations.
Last April, the Ayala conglomerate through AC Mobility launched its POW (Power on Wheels), a network of 70 existing charge points mostly stationed at Ayala malls. It targets to install 700 more CS, in its “charge forward commitment to advancing transformative mobility” nationwide. For starters, AC Mobility shall have set up 30 new stations by April, according to its well-publicized plan.
Not to be outdone, the Sy group through SM Prime Holdings in early May unveiled its plan to install 50 CS nationwide. This is in addition to the 131 CS that it already has in place across the country. It buttressed SM Prime’s bid for a “future-ready EV ecosystem”.
Like Ayala, SM Prime integrated the charge points into its SM malls with designated space. SM condos, leisure estates and office spaces are in the pipeline for the additional CS.
With more charge points in place, “range anxiety” or NEV owners’ fear of battery running out before it is recharged will now be appeased.
Not all are equal
However, in the same manner as NEVs, not all charging stations are created equal. They also vary in terms of compatibility with EVs, the charging speed and the installation cost.
New energy vehicles are classified into EVs, hybrid, BEVs, and plug-in hybrids (PHEV). The revolutionary hydrogen-powered cars may also fall under the NEV category.
Charge points are an entirely different animal or appurtenance. A charge point will entail from P20K to P50K for the hardware alone, excluding the installation cost, according to richestph.com.
The whole caboodle will probably cost three times or four times, or much more when installed in a decent location with abundant space occupying the NEV and all the works.
Then, there’s also the time element to consider. Charging time depends on the charging level, battery capacity, and the car’s charging capabilities. Level 1 charging can take 12-24 hours for a full charge, Level 2 can take 4-8 hours, and DC fast charging can add a significant amount of range in 30-60 minutes.
Level 2 charger uses a dedicated 220V charging station, which is faster than Level 1 and can add more mileage to the battery in a few hours.
On the other hand, DC fast charger (Level 3) is the fastest type of charging, available at public charging stations. It uses high-voltage direct current (DC) to replenish the battery, often adding a substantial amount of range in under an hour.
In putting up charge points as a business decision, an SM Prime executive says: Expanding our EV charging network is one way we are enabling Filipinos to adopt greener habits as part of daily life.
Meanwhile, Ayala is also charging ahead,
