17 Electric Car Related Business Ideas For 2024

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Updated: July 24th, 2023

Would you like to start your EV business opportunities but are still uncertain which ideas will be profitable?

The global electric car market is growing exponentially, and industry estimates show that in the next decade, 45% of new car sales could be electric.

That sounds promising! Right?

As the industry starts to bloom, there are countless exciting electric vehicle business ideas you can start today. While starting your electric car business ideas sounds exciting, you must run with the right idea.

Hopefully, the electric vehicle business ideas listed here will give you some inspiration and probably an early headstart into EV-inspired entrepreneurship.

1. Start an electric car charging station

As EVs become more prevalent on the road, we expect the demand for charging stations to increase. You may be interested in setting up electric vehicle charging stations at shopping malls, residential areas, and commercial centers.

The EV charging business is typically a low capital and operational cost business. The EV charging stations also require fewer human resources, and you can manage them with less intervention.

If starting the EV charging station business, choose convenient locations and a variety of chargers to suit the motorist’s needs.

How long does it take to build: 365 days (?)

2. Become an electric car batteries refurbisher

Electric vehicle refurbishing involves repairing the failed battery so it can be placed back in the vehicle or sold as a second-hand EV battery.

EV refurbishing offers electric vehicle owners a cheaper option compared to the cost of replacing the failed battery. As electric vehicles become popular, the demand for battery refurbishing services will increase because not every EV owner might afford battery replacement.

Therefore, starting the EV battery refurbish business might offer significant profit margins.

3. Start an electric vehicles shop

Electric car shops sell, lease, and can buy back used electric vehicles for re-sale. The increased demand for electric vehicles opens up the opportunity for car dealerships.

If you could start an electric car shop, it could be a promising business opportunity for you since more people are considering EVs as an alternative to gas-powered cars.

How much you can make: $30,000 — $95,000/month

How long does it take to build: 150 days (?)

How We Started A $95K/Month eVehicles Online Retailer

Rydable, an online retailer of electric-powered skateboards, scooters, and hoverboards founded by Terry McGinnis and Kartik Gurmule, achieved break-even within one month of launch and grew their Instagram following from zero to 150k in three months through a smart Instagram strategy and focus on organic sales.

About

Kartik started Rydable over 5 years ago

Revenue

Kartik grew the business to $95K/month

Read this case study

Read by 5,308 founders

4. Start an electric car diagnostic center

Car diagnostic tests scan the EV car's components and systems to check for component issues like the engine, transmission, oil tank, throttle, and other parts.

As electric vehicles become more popular, this has created an opportunity for EV diagnostics and scanning tools.

Whether you have been in the automobile industry or venturing for the first time, starting an EV diagnostic center might be an opportunity to increase your income.

5. Become an electric car power bank manufacturer

A portable power bank for electric vehicles provides emergency and or convenience to electric vehicle owners.

The portable power banks provide EV owners on-demand power source and can be used by road rescue companies. Manufacturing a portable power bank brand for electric vehicles can be a great business idea.

6. Start an electric car repair & servicing garage

EV owners prefer finding a garage specializing in EV repair and services. This is because of the many specialized parts and the dangers associated with high EV voltages. Are you fully trained to work with electric vehicles, and can you repair or replace the electric components within the EVs? As EVs become more prevalent on the roads, starting an EV repair and servicing a garage can be a viable business idea.

To start, identify cities or towns with a high number of EVs and lease some garage space there. Find certified EV mechanics to help you repair vehicles as you market your business. Partnering with EV manufacturers can also be a great deal when it comes to expanding your business.

How much does it cost to start: $8,000 (?)

How long does it take to build: 1460 days (?)

Are electric car charging stations a good business opportunity?

The electric car is one of the hottest trends in the automotive industry, and there is no sign of slowing down. With more and more drivers making the switch to electric vehicles, the demand for charging stations is soaring.

This presents a unique business opportunity for savvy entrepreneurs. Electric car charging stations can be installed at gas stations, parking lots, and other public places. In addition to generating revenue from customers who use the charging stations, businesses can also attract new customers by offering this convenient service.

With the right location and marketing strategy, an electric car charging station can be a very profitable business venture.

How can I invest in the electric car industry?

The electric car industry is one of the most promising sectors for investors. In recent years, there has been a huge increase in consumer demand for electric cars, as people are increasingly looking for ways to reduce their environmental impact.

This has led to rapid growth in the electric car market. With the market expected to continue growing at a rapid pace, now is an ideal time to invest in electric car stocks. There are a number of different ways to do this, such as buying shares in an electric car manufacturer or investing in a company that develops batteries or charging infrastructure.

With the right investment, you could stand to make a great return on your investment as the electric car industry continues to grow.

7. Start a blog for electric vehicle enthusiasts

8. Become an electric vehicle battery manufacturer

9. Start an electric cars spraying and branding workshop

10. Become an EV charger distributor

11. Become an electric vehicle powertrain manufacturer

12. Start an electric car dealership

13. Start an EV mechanical engineering course

14. Start a self-driven electric vehicle taxi

How much you can make: $528,999/month

HIBT Lab! Cruise: Kyle Vogt

CRUISE, co-founded by Kyle Vogt & Daniel Kan, is building advanced self-driving vehicles as an independent subsidiary of General Motors to reimagine cities, redefine time in transit, and restore freedom of movement for individuals who live in dense urban settings.

About

Kyle started Cruise over 11 years ago

Revenue

Kyle grew the business to $529K/month

Read this case study

Read by 429 founders

15. Start an electric car tracker installation & repair

16. Start an electric car towing business

17. Start an electric vehicle car wash

meet the author

Pat Walls

I'm Pat Walls and I created Starter Story - a website dedicated to helping people start businesses. We interview entrepreneurs from around the world about how they started and grew their businesses.

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