US DC fast charging point rollouts grew by a double-digit YoY percentage in 2024, capturing a record one-third share of all new EV public charging point installations in the country.

DC fast-charging point rollouts grew by 12% YoY in 2024

The data, revealed in Counterpoint Research’s latest US Public Electric Vehicle (EV) Charging Point Tracker, shows the growth mirrored a 12% YoY increase in new US public EV charging point installations during the same period, which was driven by growth in passenger EV sales.

Federal and state tax credits under the Inflation Reduction Act were also critical to maintaining momentum in the sector as it fuelled EV demand as well as fleet electrification efforts on the enterprise side.

Counterpoint Research associate director Liz Lee said: “Public charging station growth is a good barometer to measure the long-term health of the EV industry. The most notable aspect is the steep rise in DC fast charging points – this is the indicator we are focused on and it confirms a robust medium- to long-term outlook.”

New US Public EV Charging Point Installations by Type & EV Sales Growth

The research consultancy said it expects continued growth in DC fast-charging points to be driven by aggressive operator expansions and partnerships.

California-based EVgo expanded its DC fast-charging network through its long-standing partnership with General Motors and was conditionally awarded up to $1.25bn in loan support from the US Department of Energy’s Loan Programs Office. EVgo will use these funds to deploy up to 1,100 fast-charging stations over the next five years, focusing on 350kW high-power stalls.

Meanwhile, Electrify America expanded its DC fast-charging network by 30% in 2024, adding around 1,400 new chargers and reporting a 50% YoY increase in charging sessions.

2025 is set to be a transitional year with some EV growth risk on tariff concerns, but Counterpoint Research said it expects long-term trends to remain buoyant. In its base case scenario, 2025 passenger EV sales will likely grow 21% YoY, driven by a continued industry focus on addressing range anxiety, along with federal and state tax credits under the Inflation Reduction Act, plus corporate fleet electrification efforts.

Greg Basich, Counterpoint Research associate director, said: “Range anxiety is arguably the biggest hurdle to EV sector growth, hence an increase in charger availability is a big positive. Battery technology evolves slowly but we are seeing innovation in charging speeds. Combine that with robust EV station growth and the opening up of networks – it paints a positive long-term picture for passenger EVs in the US.”