17 Electric Car Related Business Ideas For 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.
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.
Terry McGinnis and Kartik Gurmule are the Co-Founders of Rydable. Terry is an alumni of Massachusetts Institute of Technology and Oxford University and has immense experience in the fields of fashion, marketing and e-commerce. Kartik is a teenage entrepreneur from India who started KASA. Together, Terry and Kartik have started multiple ventures in the fields of e-commerce, online services and fashion.
Rydable is an online retailer of electric powered skateboards, scooters and hoverboards. We have leaders in electric vehicle brands like Zimo, Taluer and also Rydable branded skateboards. We launched our website in January 2020 and have seen substantial growth in the community and social media.
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.
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
Kyle Vogt & Daniel Kan co-founded CRUISE a year after leaving Twitch and Justin.tv, fulfilling a childhood dream of making self-driving cars a reality.
Kyle Vogt is an American engineer, entrepreneur, technology executive, and robotics pioneer. In 2013, Vogt founded Cruise Automation, serving as the company’s President, Chief Executive Officer, and Chief Technology Officer.
Dan Kan is an American entrepreneur and technology executive. He is the co-founder and chief operating officer of Cruise Automation. Kan later joined Vogt at Cruise Automation in 2014 after the company participated in Y-Combinator, a startup accelerator that mentors up-and-coming entrepreneurs.
The company is headquartered in San Francisco, California, and was founded in 2013. Cruise is building advanced self-driving vehicles to safely connect people with places, things, and experiences they care about.
Cruise develops self-driving car technology and, since being acquired in May 2016, operates as an independent subsidiary of General Motors. They are building self-driving cars that will help save lives, reimagine cities, redefine time in transit, and restore freedom of movement for individuals who live in dense urban settings.
15. Start an electric car tracker installation & repair
16. Start an electric car towing business
17. Start an electric vehicle car wash
Hey! 👋 I'm Pat Walls, the founder of Starter Story.
Get our 5-minute email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
"An amazing network of founders that truly want to help each other grow their business."