Beam Global Powering Any EV Charger and Charging Any VehicleWouldn’t it be nice to find one company that benefits no matter who is winning in the $6 trillion EV charging space? One such company already exists... Beam Global
Powering any EV charger and charging any vehicle makes Beam’s products the common solution in a disintegrated but rapidly growing $6 trillion space.
Not too long ago there were widespread doubts about whether or not electric vehicles were going to take off. But let’s face it, those doubts existed exclusively in the minds of people who still owned gas or diesel-powered cars. Ask any EV driver if they would go back to an internal combustion engine (ICE) vehicle and they will simply chuckle and shake their heads.
EVs are the future and, increasingly, the present. Tesla’s meteoric share price increase has been accompanied by fantastic valuations for new entrants like Canoo, Nikola and Fisker who have recently used special purpose acquisition companies (SPAC) to enter the public markets at multi-billion-dollar valuations. But it’s not all new players, Ford has announced plans to release an all-electric version of the U.S.’s top selling vehicle, the F150, in 2021 along with a host of other electric vehicles like the Mustang Mach E. Ford has also invested $500M alongside Amazon’s $700M in electric pickup and SUV company Rivian (watch the Rivian tank turn video by the way). The pickup space seems especially hot with both new entrants like Workhorse, Lordstown, Rivian, Bollinger, Nikola and Tesla joining the legacy Detroiters, GM, Chevrolet and, as mentioned, Ford. And every other vehicle class is being addressed by all of the auto manufacturers. In fact, it’s impossible to find a single large auto OEM that has not committed to an electric future.
Electric 18 wheeled big-rigs are coming too. Daimler, Kenworth, Volvo, Freightliner and Peterbilt have all announced electric 18 wheelers and, of course, Tesla and Nikola have no shortage of press coverage on their offerings in this space. In March, Beam announced a partnership to provide charging infrastructure products for Volvo’s new line up of electric construction equipment already taking off in Europe.
Whether it’s got 2 wheels, 3 wheels, 4 wheels, 18 wheels or caterpillar tracks, it’s going to be electric in the coming years – not just in the US where the consumer will demand it but in the EU and the rest of the world too. If the consumer doesn’t demand it, governments will make it happen. Almost all EU nations have announced the outright banning of sales of ICEs starting in 2025 in Norway and wrapping up in 2040 elsewhere.
All those electric vehicles will need a lot of charging infrastructure. Companies like ChargePoint that recently raised another $127M to add to over $500M already raised, and Blink are getting a lot of attention because of the broader interest in EVs and the realization that EVs can’t happen without EV charging infrastructure. Electrify America, a Volkswagen subsidiary, is spending $2B on EV infrastructure. Other vehicle OEMs are joining the fray as well. Ford has announced its own EV charging network and so has GM. The utilities are getting in on the EV charging game too. In California they already plan to spend billions and many states across the nation are working on programs to encourage more utility involvement in the build out of charging infrastructure.
EV OEMs and EV charging companies are operating in an increasingly competitive environment. It’s not clear who the winners and losers will be. Goldman Sachs has forecasted that $6 trillion dollars will be spent on EV charging infrastructure in the coming years. But who will that money be spent with?
There is not an electric vehicle in production or planned that cannot charge on Beam’s products. There is not a single quality EV charger brand that we can’t or won’t support. Our products are in over 100 municipalities (see map) across the U.S. and in three nations powering EV chargers from all the major vendors in the space. We currently deploy more ChargePoint chargers than any other brand because many of our customers are already on their network. But we equally support Blink, Enel, Bosch, Aerovironment and any other quality brand. We don’t compete with those companies, our products just provide the fastest deployed (see video), most scalable and most robust infrastructure solution for them. We support Level I, Level II and DC fast charging, regardless of the vendor of the charger. Electrify America (VW) is already a customer and so is GM and a couple of other auto OEMs I am not allowed to name. Just last week we announced that Baltimore Gas and Electric (BGE) has ordered our products because they are faster and less disruptive to deploy and because we take the strain off an already at capacity grid (note blackouts in CA this week and three million without power on the East coast during Isaias – our products continue to work during those events.) BGE is one of three current utility customers but there are more in our pipeline – all for the same reasons.
We are the one stop shop for all EV charging companies, and their customers, who don’t want to go through the onerous, time consuming and expensive process of doing the permitting, construction and electrical work to get a traditional utility grid tied charger to work. That process, which takes 24 months in New York City (our biggest customer) and 18 months in California (second biggest) takes us as little as 4 minutes (watch the video again and note that there is a ChargePoint charger on our product). That’s right, we deploy in minutes not months. Our products pay for themselves on day one through avoided construction costs and then provide a lifetime of free energy. They are immune to grid failures because they generate and store all of their own electricity and they will provide a charge for any sized electric vehicle from an electric scooter to a full-sized electric passenger bus or a semi-truck or a piece of Volvo’s electric construction equipment.
Beam is a Nasdaq listed company (BEEM) with no debt and years of operating capital on the balance sheet. It’s a company with a proven track record of winning the world’s best customers and executing on their orders. We compete with nobody in the EV or EV charging infrastructure industries. We enable all of them by delivering a product which displaces the highly disintegrated ecosystem of general and electrical contractors, engineers and consultants. We make it possible for our customers to have the EV chargers of their choice without ever getting a utility bill and without the risks of black outs or other grid failures. Our products are the most rapidly deployed and highly scalable permanent EV charging infrastruture solutions available.
Beam Global truly is one company that can always win, no matter what business model or technology wins out in the EV and EV charging industries.
Authored by Desmond Wheatley
CEO of Beam Global
This article was authored by the CEO of Beam Global and contains his thoughts, observations and opinions and is not intended to be viewed as anything more than an expression of what he believes. It contains links to other materials available on the Internet. Beam Global is not responsible for the information posted at those links. This article may contain forward-looking statements. All statements in this article other than statements of historical facts are forward-looking statements. Forward-looking statements are generally, but not always, accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “target,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may,” or other words and similar expressions that convey the uncertainty of future events or results. For questions related to this article or any other questions about Beam Global please contact : BeamTeam@BeamForAll.com