EV Charging Infrastructure is being implemented at an unprecedented rate, and now with government incentives spurring installations that rapid growth continues its acceleration.
In the latest Smart City podcast, the ARC Advisory Group team discusses, in detail, answers to a variety of critical questions.
Here are some key quotes from the podcast:
Basics of electric vehicle charging infrastructure and who are the major stakeholders in this electric vehicle transition:
Clearly the stakeholders are EV makers. The EV fleet managers that include be things like school buses or commercial buses or rental car makers that are moving to electric vehicles. The real estate developers, the charging stations, and also the commercial charging providers, and of course clearly the utilities are a major stakeholder because they are providing the power to electrify transportation. On a larger level, electrifying transportation is part of the overall goal to reduce greenhouse gas emissions. And there really are very few options outside of electrifying cars and moving away from fossil fuel. I would also mention that lithium batteries will dominate for at least the next five years and there is a move toward a lithium iron phosphate chemistry which is safer. It does not use nickel or cobalt and has more charge cycles.
Demand for EVs and China as a Leader in EV Adoption:
The demand for EVs right now is just insane. We are seeing exponential growth all around the planet and huge investments in batteries and EV factories are being done worldwide, while Tesla has an early lead, China has invested heavily in electric vehicles and battery production. For example, in January 2021, only 5% of car sales in China were electric vehicles, but this jumped to 19% by November and nearly 30% by December 2021. And by the end of 2021, the US had about 2,000,000 EVs and plug-in hybrids. and about 110,000 charging stations. Europe had 5.5 million, plug-in electric vehicles and 200 and 75,000 charging stations. However, China has about 20 million electric vehicles and 2,200,000 charging stations, so it's very clear that China has a huge, huge lead.
Listen in to the entire podcast right here:
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ARC Advisory Group