{"id":84517,"date":"2021-02-16T04:47:25","date_gmt":"2021-02-16T04:47:25","guid":{"rendered":"https:\/\/www.alj.com\/?post_type=perspective&p=84517"},"modified":"2022-08-29T07:58:21","modified_gmt":"2022-08-29T07:58:21","slug":"recharging-ahead-how-to-keep-electric-vehicles-topped-up","status":"publish","type":"perspective","link":"https:\/\/alj.com\/en\/perspective\/recharging-ahead-how-to-keep-electric-vehicles-topped-up\/","title":{"rendered":"(Re)Charging ahead: how to keep electric vehicles topped up"},"content":{"rendered":"

By 2030, there will be over 100 million plug-in electric vehicles (EV) on the road globally.[1]<\/sup><\/a>\u00a0 More than half of these are sold in China, but the rest of the world is catching up rapidly; over the next five years, sales will double in the United States and quadruple in the EU-27 plus the UK.[2]<\/sup><\/a>\u00a0 EV adoption will become widespread as prices and charge times decrease, while choice and ranges increase.\u00a0<\/p>\n

The technology is already many miles ahead of where it was ten years ago.\u00a0 When the all-electric Nissan Leaf was introduced in 2010, it had a maximum range of around 70 miles.\u00a0 Compare that to RIVIAN<\/a>, the fledgling US-based EV manufacturer, and the darling of recent high profile investment funding rounds including big hitters like Amazon, Ford and Cox Automotive, and in which JIMCO<\/a> (the Jameel Investment Management Company) was a critical early investor.\u00a0 RIVIAN is introducing a pick-up and SUV in 2021 that are capable of traveling more than 400 miles per charge \u2013 opening up a new frontier for EV, quite literally with their focus on all-road four wheel drive vehicles.\u00a0 McKinsey estimates that EVs could account for 30% of passenger vehicle sales across China, the EU-27, and the United States by 2030[3]<\/sup><\/a>.\u00a0 Toyota alone, one of the global pioneers in electric vehicles, aims to sell over 5.5 million per year by 2030[4]<\/a>.\u00a0 This brings the prospects for cleaner vehicles and cleaner air much closer \u2013 provided we don\u2019t run out of charge en-route.<\/p>\n

Finding the power<\/h2>\n

Global charging infrastructure has doubled in the past three years.\u00a0 Again, China leads the way with over half the chargers[5]<\/sup><\/a>, followed by Europe, and the US as a distant third[6]<\/sup><\/a>.\u00a0 But there is a long way to go.\u00a0 McKinsey estimates that 22\u201327 million charge-points will be needed in China, the EU-27 plus the UK, and the United States, by 2025.\u00a0 By 2030, that number will rise to 55 million, raising power demand from 180 TWh to at least 525 TWh per year[7]<\/sup><\/a>. \u00a0<\/p>\n

\"ALJ<\/p>\n

The market is currently dominated by home chargers and slower public chargers, often in sub-optimal locations, with a customer experience that leaves much to be desired. \u00a0Even so-called rapid chargers take around 45 minutes, far-longer than filling up with gasoline (and an eternity if traveling with children).\u00a0 To facilitate EV adoption, the world needs more chargers, more supporting infrastructure, and more power.<\/p>\n

It will take scalable, consumer-focused business models, widespread collaboration, massive investment, and government backing.\u00a0 According to McKinsey, an estimated US$ 110 billion to US$ 180 billion must be invested from 2020 to 2030 to satisfy global demand for EV charging stations, both in public spaces and within homes[8]<\/a>.<\/p>\n

So, what are the technologies and business models that can help us meet these requirements? \u00a0And what bumps can we expect in the road ahead?<\/p>\n

Who are the influencers?<\/h2>\n

Just about everyone.\u00a0 The EV charging industry encompasses numerous operators across the private and public sectors, including:<\/p>\n