Itselectric: The Company Changing Cities' EV Charging Model
The lack of charging infrastructure for EVs is becoming a problem, especially in urban environments.
Itselectric, a start-up from Brooklyn in New York, USA, has stepped in to bridge this gap by providing curbside charging solutions.
The idea is straightforward enough: it installs chargers in front of residential and commercial properties, allowing property owners to earn by supplying electricity.
It's a way for property owners to make passive income - thousands of dollars per year, according to Itselectric's estimates - whilst also providing EV users with far greater access to charging stations.
How to increase access to urban EV charging
As the US targets a future where half of all new cars are electric by 2030, the pressure to enhance EV infrastructure is intensifying.
New York City in particular anticipates a dramatic increase in EV ownership, anticipating the numbers to soar from 62,000 in 2024 to an estimated 3 million by 2030.
This growth underscores a significant challenge for urban residents who rely on street parking, making the availability of nearby charging options a critical need.
Itselectric's tactic, encapsulated in its slogan “Power from the People,” aims to substantially grow NYC's EV charging stations.
From its current count of 1,400, it is forecasting a leap to 10,000 charging points by 2030, all tailored to the city's landscape and usability demands.
From humble beginnings to a market disruptor
Itselectric has partnered with Hyundai, Switch, the New York City Economic Development Corporation (NYCEDC) and local governments around the world to expand its EV charging portfolio - but how did the company's story start?
Tiya Gordon and Nathan King are both life partners and business partners. Previously, Tiya worked on sustainable hardware and software projects, whilst Nathan worked as an architect specialising in sustainable design.
In 2021, they decided to buy a car after many years of using public transport in Brooklyn, but they quickly realised that there were very few options for charging in the area.
They wanted to do something about this and subsequently established Itselectric with the simple mission of reimagining the way EV charging infrastructure works.
In the years since, the company has accrued millions of dollars in funding from investors, partnerships with huge corporations, a burgeoning global consumer base and even an artistic endorsement from Talking Heads frontman David Byrne.
The Hyundai connection
In 2023, Itselectric scored one of its largest corporate partnerships with South Korean vehicle manufacturer Hyundai.
The partnership was a result of Itselectric's excellent performance in Hyundai CRADLE's EV Open Innovation Challenge, which sought scalable ideas to improve global access to EVs.
Consequently, Hyundai helped the Tiya and Nathan build a new series of charging points in Brooklyn, with some additional help from the NYCEDC.
“The team at Hyundai has been incredibly supportive and we could not have envisioned a better place than Brooklyn, where it all began, to put our first chargers into the ground,” Nathan said at the time.
“The United States has high goals for electric vehicle adoption, but the country is not currently prepared for what this means in terms of accessible charging.
“Our technology is specifically built for cities to ensure that every community - no matter the median income or prevalence of driveways and garages - has access to clean transportation.”
The team at Hyundai was very enthusiastic about the project too. “Hyundai CRADLE Silicon Valley is excited to be launching this pilot program in collaboration with HMNA and Itselectric,” said Henry Chung, former SVP and Head of Hyundai CRADLE Silicon Valley.
“Curbside charging is an important part of the EV charging ecosystem that can provide access for those who rely on public charging, and we look forward to exploring this opportunity.”
The uniquely smart design of its electric chargers
The chargers designed by Itselectric are notably compact, integrating flawlessly into urban settings.
Nathan highlights their aesthetic appeal: “We've removed the big, the bad and the ugly from charging stations.”
Comparable in size to a fire hydrant, these chargers not only blend into their surroundings but also offer a cost-effective charging solution.
Users can initiate a charging session for approximately US$10 through a dedicated app or by using a credit card, making it accessible and simple.
Most importantly, a significant portion of the revenue generated is passed back to the property owners who host these chargers.
“We're just putting a little charger in front of someone's building on their curbside. And they're potentially earning thousands of dollars per year—offsetting their annual electric bill and putting money in their pocket,” says Tiya.
By employing a separate meter, the homeowner's electrical costs remain unaffected, ensuring a beneficial arrangement for all involved.
According to Itselectric, a typical New York homeowner could earn about US$3,500 annually by hosting a charger.
The plans for expansion
As the business matures, plans are already in place to expand operations to other cities like Boston, Jersey City, Los Angeles and London in 2025.
As urban densities increase and the shift towards sustainable transport gathers momentum, companies like Itselectric are crucial in making EV adoption a feasible option for more people.
Tiya summarises the outlook that she and Nathan share: “I will never consider getting a gas car again.”
“As people start to encounter EVs, they're going to get them… I am very optimistic.”
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