Q1. Since the inception of the company in September 2021, how has the charging infrastructure developed in Puerto Rico and other states in your opinion?

Following the national trend, Puerto Rico has seen a surge in electric vehicle adoption. In 2021, we took a historic step by establishing the island’s first public fast charging station within a shopping center. This move was met with overwhelming customer support, validating the demand in the market. Buoyed by this success, we extended our reach, installing three more charging areas along the main expressways of Puerto Rico, resulting in a total of 16 available chargers for EV enthusiasts.

Local data suggests that there are approximately 8,000 fully electric or plug-in cars on Puerto Rico’s roads, constituting about 3.9% of the market. When aligning with the future projections in the United States, indicating a 50% increase in EV adoption by 2025, it’s evident that we’re on the right track.

Our steadfast commitment to creating a comprehensive and user-friendly charging network across the island has been pivotal in driving this transformation. Taking into account the recent growth in the market, we are thrilled to announce our most significant expansion yet. We’re adding more than 15 chargers across four additional locations in Puerto Rico, from our initial station in Canóvanas to our latest addition in Bayamón. These strategically positioned charging stations are integrated into places that align with customer behavior, such as shopping centers. This approach empowers both residents and tourists to fully embrace electric vehicles, enjoying the benefits of sustainability and convenience while taking advantage of the existing amenities.

Alternatively, the government and private sector must collaboratively evolve the existing landscape, crafting new legal frameworks and regulations to establish robust tools for enhancing customer transparency, setting installation standards, and streamlining charging procedures. This encompasses addressing various aspects, from condominium facilities to highway amenities and beyond. Currently, the predominant focus is on the act of charging electric vehicles, but what’s equally crucial is education and the promotion of EV adoption.

Q2. What is Velocicharge’s plan for expanding its network of charging stations to other US territories and states?

As we continue to make substantial progress in Puerto Rico, our sights are also set on broadening our presence across the island. Our achievements here have equipped us with valuable knowledge and a successful blueprint that we’re confident can be applied to new locations. Looking ahead, we’ll actively pursue partnerships and collaborations with local stakeholders who are aligned with our vision for advancing electric mobility. While we’re committed to staying firmly rooted in Puerto Rico, we’re also open to exploring potential opportunities in other markets and services that align with our mission.

Q3. What are some of the ways that Velocicharge is giving back to the Puerto Rican community?

Our dedication to Puerto Rico extends well beyond infrastructure development. We’ve proactively connected with local communities, actively participating in events to raise awareness about electric mobility and sustainability. Looking ahead, our vision includes launching initiatives to educate and engage local schools and environmental organizations, furthering our mission to promote sustainable transportation. Additionally, we aim to serve as a bridge to potential secondary economies related to electrification, offering insights into industry trends and data. Supporting and collaborating with the vibrant Puerto Rican community is deeply ingrained in our identity.

Q4. As we are seeing a constant upsurge of the usage of AI in variety of fields, how are you thinking of adopting AI in your venture?

Artificial intelligence is poised to transform virtually every aspect of our lives, and that includes the electric vehicle charging experience. We see immense potential in this technology to offer significant advantages in trend detection and enhancing our customer service.

Our strategic business partner, ABB, has taken a pioneering step by launching the ABB Industrial AI Accelerator program. This initiative aims to propel startup collaborations that will drive the next phase of the industrial revolution. We firmly believe that AI applications hold the power to elevate user experiences, streamline charging station operations, and enhance energy management to unprecedented levels of efficiency.

Q5 What are your thoughts on the role of government policy in supporting the growth of the EV industry? Is the National Electric Vehicle Infrastructure Formula Program to provide $5 billion over five years enough considering the upcoming demand and the need of EVs?

In Puerto Rico, government policies play a pivotal role in propelling electric vehicle adoption. We’ve been vigilant in our efforts to closely track and engage with local authorities to ensure that policies and incentives are in sync with the surging demand for EVs. The National Electric Vehicle Infrastructure Formula Program represents a significant stride forward, and in the context of Puerto Rico, it promises to be a formidable catalyst for expanding the EV charging infrastructure.

However, we firmly believe that lasting success will hinge on the synergy and sustained collaboration between local policymakers, private sector stakeholders like us, and federal programs. Together, we can lay the foundation for robust, long-term, and sustainable growth in the EV ecosystem.

Q6. Being such a capital intensive industry, what in your opinion should be the ideal approach for a producer looking to enter this market?

Establishing a foothold in Puerto Rico’s electric vehicle market requires a deep understanding of our unique local dynamics. Our achievements can be attributed to our comprehensive, 360-degree approach. On one front, our partnerships with local businesses, especially shopping centers deeply ingrained in the local culture, have proven invaluable. On the other front, our unwavering commitment to excellence involves thorough planning and rigorous validation of each installation, adhering to the industry’s best global practices. This is made possible through our partnership with Visotek, a leader in electrical installations. Additionally, we prioritize the reliability of our hardware, entrusting a company with over 130 years of experience, like ABB.

Simultaneously, our emphasis on innovation, service uptime, and data security, all integrated into a customer-centric software, places a seamless, hassle-free experience at the forefront.

We’re steadfast in our belief that Puerto Rico can lead the charge in the electric mobility industry. Our success is born from this holistic perspective, where local connections, customer service, quality assurance, reliability, innovation, and an unwavering commitment converge. This ethos is proudly reflected in our slogan: “Carga Confiado” (Confident Charging).