Steven Hilfinger Comments on EV-Charging Industry Consolidation

24 November 2022 Insider News

Foley & Lardner LLP Partner Steve Hilfinger is quoted in the Insider article, “Automakers need way more plug-in stations to make their EV plans work. That has sparked a buying frenzy as big charging players gobble up smaller ones,” discussing the difficulties smaller electric vehicle (EV) charging companies face as consolidation in the industry heats up.

“For the smaller companies, it’s hard to scale up on their own,” Hilfinger said. “They really need larger partners. This is going to take a lot of capital.”

Hilfinger explained the importance of a robust charging infrastructure to the EV space, saying, “The automakers obviously want to make sure that at the end of the day, there’s an EV ecosystem that will support their EV-production plans.”

“If you can rely on the government-infrastructure funding, if you can rely on some of these other sources to help with that capital burden, it makes the overall cost lower. It will continue to be an active space, even with maybe a little bit of a pullback in the economy,” he added.