20% of cars in Europe are electric

Sales of electric vehicles are increasing exponentially. Globally, electric vehicle sales doubled in 2021 and saw a further jump of 55% in 2022, accounting for 13% of total vehicle sales.

More in detail, based on the data of the new study by EY and Eurelectric, in 2022, electric vehicle sales reached 27% of total vehicle sales in China, in Europe they formed just over 20%, while in the US, they increased to more than 7%.

The study also highlights the need for cooperation and coordinated action by all stakeholders in the electrification ecosystem, particularly in the context of achieving decarbonisation targets, with electricity generation and trading companies playing a central role in this.

As pointed out in the study by EY and Eurelectric “To maintain this momentum, however, the parts of the eMobility ecosystem will need to work together around six key priorities for the mass adoption of electric vehicles.”

The biggest challenges for the future of electric mobility

The future of electric mobility rests on six main priorities, among which the top one is related to the strengthening of charging infrastructures.

As the demographic profile of electric vehicle buyers develops to include an increasingly broad group of consumers, with more common expectations than early adopters, having and operating charging infrastructure for all is critical.

According to the study, it is estimated that, by 2040, the total number of urban, private and public chargers needed in Europe will reach 140 million (88% of which will be for home charging), to serve around 239 million electric vehicles.

In the US, a total of 91 million chargers (85% for home charging) will be needed to service 152 million vehicles over the same period.

To build charging infrastructure faster and more equitably, the study suggests installing chargers – through regulatory incentives – in places where people work and live.

Cooperation between network operators and public authorities to prepare the development of networks, taking into account the expected growth of electric vehicles and assessing infrastructure needs and required investments, is also a critical parameter.

The catalytic role of electricity companies

The study argues that, in the transition to electrification, electricity generation and trading companies can play a central role, relying more on technology.

To succeed they will need to work more proactively with urban planners, and continue to develop networks that will allow renewable and other forms of distributed generation energy to be connected to the energy grid. In addition, they will need to manage new energy loads at the charging points and seek to integrate new technologies that will allow energy to flow bidirectionally along the grid.

Source: Digital Life! by www.digitallife.gr.

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