Electric Vehicle (EV) Adoption is rising very quickly with the number of consumers looking to buy EVs globally has hit 52%, according to the latest EY Mobility Consumer Index.
This unprecedented number can be attributed to numerous factors including climate change, sustainability, the rising cost of gasoline, as well as California’s trailblazing Advanced Clean Cars II rule that by 2035 100% of new cars and light trucks sold in California will be zero-emission vehicles, including plug-in hybrid electric vehicles.
The Company operates in two segments: Infrastructure and Telecommunications. CRGE seeks to serve unmet needs in the large and rapidly growing EV Charging and Broadband Market.
CRGE's Infrastructure Segment provides clients with end-to-end project management services, including advising, designing, engineering, acquiring, and installing equipment, monitoring, servicing, and maintenance.
The transportation system is the largest source of climate-altering U.S. greenhouse gas emissions, making it critically important to accelerate the adoption of EVs.
With over 2.9 million plug-in hybrid and battery electric vehicles sold in the U.S. since 2010, this number is expected to explode in the coming years as more and more consumers are turning to EVs when purchasing vehicles.
This opens the door for trailblazing companies such as CRGE to make waves and snatch exciting opportunities in a fast-growing and profitable industry that is only going to explode in the years to come!
The electric vehicle (EV) adoption rate has seen unprecedented growth in recent years with only even more exciting growth projected in the years to come. The switch from gas powered vehicles to electric can be attributed to many different factors such as unaffordable gas rates, unsustainability, and harm to the environment from gas emissions, and many more.
In fact, 71% of Americans have expressed interest in buying or leasing EVs, according to a national survey by Consumer Reports.
The Infrastructure Investment and Jobs Act (signed into law in November 2021) allocated $7.5 billion to build out a national charging network for EV. The funding has focused on installing fast chargers along interstates which helps mitigate issues for long distance drivers.
The legislation also includes large investments to upgrade the nation’s power grid which is integral for accommodating rising electricity demand as EV adoption grows and well as to expand domestic battery production and recycling capacity.
The Inflation Reduction Act extended a tax credit of up to $7,500 for the purchase of new EVs until 2032 and provided that tax credits could be used for purchasing used EVs.
Many states are offering incentives for consumers who purchase electric vehicles and the state of California adopted a rule, Advanced Clean Cars II, that states by 2035 100% of new cars and light trucks sold in California will be zero-emission vehicles, including plug-in hybrid electric vehicles.
Conversely, many consumers are purchasing vehicles for the first time as the number of people using public transportation since the days of Covid-19 has plummeted. Many new car owners are turning to EV’s instead of gas-powered vehicles due to rising gas costs and overall environmental impact.
These trends present both an opportunity for OEMs and dealers to continue accelerating the shift to EVs. Major OEMs having committed $650B+ to electrification US OEMs are going 100% electric as soon as 2035!
The turn towards EV adoption is resulting in rapidly growing EV Infrastructure needs… approximately $95B investment is required to develop charging infrastructure by 2030. 60%+ of spend on a charging project is related to installation, with additional spend required on maintenance and software services.
Based in New York, Charge Enterprises, Inc. is an electrical, broadband and EV charging infrastructure company that provides clients with end-to-end project management services.
The company operates in two segments: Infrastructure and Telecommunications.
The Infrastructure segment offers broadband and wireless, electrical contracting, electric vehicle charging, and fleet services.
The Telecommunications segment provides internet-protocol-based and time-division multiplexing access for transport of long-distance voice and data minutes; domestic switching and related peripheral equipment services, and carrier-grade routers and switches for internet and circuit-based services, as well as connection of voice calls and data services.
CRGE is a group of companies creating the connectivity infrastructure of the future…
CGRE’s vision is to be recognized as a leader in enabling the next wave of transportation and connectivity.
By building, designing, and operating seamless infrastructure for electric vehicles and high-speed broadband, it aims to create a future where transportation is clean, efficient, and connected. Through knowledge, imagination, and innovation, the goal is to empower individuals, communities, and businesses to thrive in a more connected and sustainable world.
Charge plans to deploy a multi-phased strategy, initially where investment in the EV charging revolution is taking place, the nation’s approximately 18,000 franchised auto dealers.
Starting with the largest automotive OEMs, their dealers, and their fleets, our goal is to capture a significant portion of these retail dealerships, creating a dealer ecosystem that will lead to repeat customers and recurring revenue.
Complimenting this strategy will be the acquisition of strategic infrastructure entities that will provide cash flow, skill teams and knowledge to enhance the buildout of the company’s EV infrastructure strategy.
Charge is a Full-Stack Electrification Provider with custom infrastructure solutions, providing safe, reliable and scalable transport ecosystems.
Dealerships are Transitioning to a New EV Business Model…
President Currently, Mark R. LaNeve holds the position of Partner and Chairman at Franchise Equity Partners LLC and President of Charge Enterprises, Inc. He is also on the board of Audacy, Inc., Autism Speaks, Inc., Eton Academy and Angels Place. In the past Mr. LaNeve was Chief Operating Officer of Global Team Ford, Vice President-US Marketing, Sales & Services at Ford Motor Co., Chief Marketing Officer & Senior Executive VP at The Allstate Corp. and Senior Executive Vice President at Allstate Life Insurance Co. (a subsidiary of The Allstate Corp.), Chief Marketing Officer & Senior Executive VP at Allstate Insurance Corp., Chief Executive Officer at Volvo Cars of North America LLC, Vice President-Sales, Service & Marketing at General Motors Corp. and Vice President-Sales, Services & Marketing at General Motors North America.
Chief Operating Officer Presently, Craig Denson holds the position of Director, Chief Operating & Compliance Officer at Charge Enterprises, Inc. and President & Chief Executive Officer of PTGi International Carrier Services, Inc. and President at Charge Infrastructure, Inc. (both are subsidiaries of Charge Enterprises, Inc.). He is also on the board of PTGi International Carrier Services Ltd., Arbinet-thexchange Ltd. and PTGi-ICS Holdings Ltd. and Vice President-Prepaid & Wholesale at Primus Telecommunications Canada, Inc. Craig Denson previously occupied the position of President & Chief Operating Officer for Sigma Software Solutions Pvt Ltd., President-ICS Business Unit at INNOVATE Corp. and Chief Executive Officer of ICS Group Holdings, Inc. (a subsidiary of INNOVATE Corp.) and Manager-National Sales at PepsiCo, Inc.
Charge Enterprises, Inc. (NASDAQ: CRGE), is an electrical, broadband and EV charging infrastructure company with a vision to be a leader in enabling the next wave of transportation and connectivity.
The company operates in two segments: Infrastructure and Telecommunications. CRGE seeks to so serve unmet needs in the large and rapidly growing EV Charging and Broadband Market.
CRGE is a leader in making the journey to electrification simple. Equipped to capture the highest and most profitable spend in the EV Charging value chain, the company operates a sustainable business model.
The switch to electric vehicles (EV) is rapidly growing and the market is projected to reach $823.75 billion by 2030, registering a CAGR of 18.2% from 2021 to 2030 according to Allied Market Research.
Target Dealership sells 2,000 new cars per year with 6% of those sales being EV. By 2030 that number is projected to reach 50% of all sales. This transition to EV shows an unmet need that CRGE can fulfill.
Charge Enterprises, Inc. (NASDAQ: CRGE) is positioned to become a leader in the EV infrastructure as it enables the next generation of transportation and infrastructure and now is the time to be paying attention as EV dominates in years to come!
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