With all of the discussion surrounding the serious investments toward vehicle electrification being made these days by automobile manufacturers, an often-overlooked angle is the amount of money being funneled toward the electric vehicle charging industry. By one estimate, more than $4.8 billion has been committed toward the industry in 2022.

This money isn’t just being spent by start-ups and IPOs. Large corporations such as BP, Daimler Truck, VW, Siemens, Shell, and ABB have made significant investments.

The charging industry will need up to a trillion dollars over the upcoming decades to scale up, but 4.8 billion is a significant down payment.