From Isolation To Electrification: Route 50's EV Evolution Sees Thousands Of New Charging Stations

Aug 16, 2023

Route 50, famously known as The Loneliest Road in America, is evolving into a symbol of the United States’ transition to electric vehicles (EVs).

Over the past year, the iconic highway, stretching just over 3,000 miles from Sacramento, California, to Ocean City, Maryland, saw the installation of 1,200 public fast-charging stations. It’s part of a broader initiative that is electrifying The Great American Road Trip.

The “loneliest” nickname comes from the stretch of Route 50 through central Nevada. Even in this desolate landscape, there are EV chargers. For example, the small town of Austin boasts just 170 residents but now has two charging stations. Departing from Denver and heading southeast on Route 50, drivers see grasslands, barns and cattle. After a 3½-hour drive, they reach the visitor center in Lamar, Colorado, which now boasts a bank of four high-speed EV chargers alongside Tesla Superchargers. These charging stations have breathed new life into sections of highway that were often bypassed for more accessible interstates.

Don’t Miss:

Until 2016 it was illegal for retail investors to invest in high-growth startups. Thanks to changes in federal law, this Kevin O’Leary-Backed Startup Lets You Become a Venture Capitalist With $100

Are Wall Street's days numbered? This platforms game-changing solution could disrupt finance forever.

The transformation of Route 50 is a reflection of its history. Decades ago, the highway was regarded as a perilous journey, earning its famous moniker because of its remoteness and lack of services. Today, it faces analogous challenges, with newer interstates diverting traffic and a scarcity of EV charging infrastructure.

The recent growth of EV charging stations along Route 50 signifies a leap forward. President Joe Biden’s plan for 50% of new cars in the United States to run on batteries by 2025 requires charging stations. Part of the plan includes $5 billion to install fast-charging stations every 50 miles along major highways. The U.S. now boasts approximately 4,800 public fast-charging stations, with more than a quarter added in the past year.

Surging interest in EVs is evident as their adoption has risen from 2.5% to 6.5% of new car purchases in the past two years. This surge is not only fueled by government subsidies but also by businesses eager to cater to the growing number of electric vehicle travelers.

Making money from remote charging stations remains challenging. Creative business models, shared costs and subsidies from utilities and governments are helping expand the charging infrastructure, even in less-populated areas.

Peter Thiel, Mark Cuban and Warren Buffet funded early-stage startups and made millions. You don’t need to be a well-connected billionaire to do the same. Click here to invest in promising startups today.

As Route 50 transitions from a symbol of isolation to an emblem of electric vehicle travel, it highlights the broader trend toward electrification in the U.S. This shift benefits EV drivers and the businesses along the route, which are capitalizing on the increasing number of electric vehicle travelers making The Loneliest Road in America a little less lonely.

Wallabing is a startup company that encourages people to get out on the road. Positioned as the Airbbnb for RVs, Wallabing helps RV owners turn their assets into revenue streams when they are not exploring Route 50 or one of the country’s other amazing journeys.

Read Next:

One real estate investment platform got Jeff Bezos to invest in its rentals that yield as much as 10.1% in dividends alone. Now, you can invest in the newest offerings with just $100. Read the full story.

Elon Musk is looking to bring thousands of new tech workers to Austin. Here’s how to invest in the city’s growth beforehand.

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

This article From Isolation To Electrification: Route 50's EV Evolution Sees Thousands Of New Charging Stations originally appeared on Benzinga.com

.

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.