The Charging Infrastructure Needed to Promote Electric Vehicle Adoption – Report
Citing data from BloombergNEF, the experts pointed out that it is estimated that around 290 million charging points will be needed worldwide by 2040, of which 12 million will be in public places. This, in turn, requires public-private investments of $ 500 billion.
âIn order to overcome obstacles to the expansion of EV infrastructure, financial incentives and regulatory support must be provided to drive the transition from vehicles with internal combustion engines (ICE) to EVs, among other things by favoring efficiency through shared and autonomous EV journeys âSaid MÃ¼hlon.
For Palazzo, political support at the local and utility level is also crucial.
As an example, he cited that the state of California – the largest electric vehicle market in the United States – has already proposed best practices to expedite approvals for the installation of electric vehicle charging stations, potentially accelerating the growth of electric vehicles.
“Further updates to local permits and re-assessments of utility demand will be important to pave the way for EV infrastructure,” said the board.
The CEO of Electrify America also highlighted that public charging stations have a significant real estate component as they should be conveniently located on both major highways and in densely populated urban areas.
“Real estate also relates to the availability of electricity, especially when it comes to fast charging,” said Palazzo. “A site could be great from a usage point of view, but if there is no grid capacity, installation could be challenging regardless of the solutions and technologies used.”
Technical developments + cooperation
The collaboration between charging technology providers, OEMs, operators, suppliers and players in the field of renewable energies will also be of decisive importance from the point of view of the experts consulted by McKinsey.
MÃ¼hlon pointed out that some companies are already taking bold steps and diversifying their portfolios to get involved in the operation of charging stations. He spoke about the IONITY case – a joint venture between BMW Group, Daimler AG, Ford Motor Company, Hyundai and the Volkswagen Group with Audi and Porsche – which operates a network of around 400 fast charging stations in 24 European countries.
The ABB manager also mentioned that new software solutions play an important role in shaping the future of the industry.
“A cloud-based digital solution aims to optimize real-time fleet management of electric vehicles and accelerate the electrification of transport fleets by helping operators ensure 100% business continuity when converting to all-electric,” said MÃ¼hlon.
For Palazzo, charging in five to ten minutes is another development that will be groundbreaking. In his view, five-minute charges could soon become a reality as 800-volt architectures become more common in electric vehicles.
âCharging is ideally convenient, quick and seamless. What could become routine for customers, of course, requires hard work from technology professionals and a commitment to operational excellence, âsaid Palazzo. âWhen I say ‘comfortable’ it’s not just a question of location; it also means being available and online, which requires predictive maintenance made possible by data science and real-time diagnostics. “
MÃ¼hlon also pointed out the importance of convenience in the introduction of electric vehicles. In his view, plug-and-charge solutions represent the next significant evolution in vehicle refueling.
He explained that thanks to plug-and-charge, the driver can drive to the charger, plug in the plug and start charging automatically, eliminating the need for credit cards or payments via smartphone.
Another development that, according to MÃ¼hlon, could be groundbreaking is vehicle-to-grid technology with bidirectional charging. He explained that the chargers can make up for the uneven generation of renewable electricity every day, e.g.