Company: TOGIW
Filing Date: 2025-04-23
Form Type: 10-K
Source: 0001214659-25-006296
Chunk: 34

Company: TurnOnGreen, Inc.
Filing Date: 2025-04-23
Form: 10-K
Item: Item 1A
Chunk 34
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 of ports) of the national public charging network could vary by up to 50% (excluding
privately accessible infrastructure) by varying the share of plug-in hybrids, driver charging etiquette, and access to private workplace
charging. Additionally, the national network is expected to vary dramatically by community. For example, densely populated areas will
require significant investments to support those without residential access and ride-hailing electrification, while more rural areas are
expected to require fast charging along highways to support long-distance travel for those passing through.

Continued investments in U. S. charging
infrastructure are necessary. A cumulative national capital investment of $53 - $127 billion in charging infrastructure is
needed by 2030 (including private residential charging) to support 33 million PEVs. The large range of potential capital costs found
in this study is a result of variable and evolving equipment and installation costs observed within the industry across charging
networks, locations, and site designs. The estimated cumulative capital investment includes:

  $22–$72 billion for privately accessible Level 1 and Level 2 charging ports  

  $27–$44 billion for publicly accessible fast charging ports  

  $5–$11 billion for publicly accessible Level 2 charging ports.  

As mentioned earlier, the lack of substantial
investment by federal and state entities in energy generation, grid upgrades, and energy distribution networks will significantly hinder
the adoption of electric vehicles. Consequently, this will impede our ability to achieve our growth objectives.

Our revenue growth ultimately depends on consumers’
willingness to adopt electric vehicles in a market that is still in its early stages.

Our growth is highly dependent upon the adoption
by consumers of EVs, and we are subject to the risk of reduced demand for EVs. If the market for EVs does not gain broader market acceptance
or develops slower than we expect, our business, prospects, financial condition and operating results will be harmed. The market for alternative
fuel vehicles is relatively new, rapidly evolving, characterized by rapidly changing technologies, price competition, additional competitors,
evolving government regulation and industry standards, frequent new vehicle announcements, long development cycles for EV original equipment
manufacturers, and changing consumer demands and behaviors.

We are in a highly competitive EV charging
services industry and there can be no assurance that we will be able to compete with many of our competitors which are larger and have
greater financial resources.

We face strong competition from competitors in
the EV charging services industry, including competitors who could duplicate our model.