The Arcadis Global Electric Vehicle Catalyst Index 2021 starts off with the conclusion that the global transition from internal combustion engines (ICE) to low-emission vehicles is happening at a fast rate. By 2040, EV’s will constitute over half of all car sales, effectively shaping the future of travel.
The Index provides an analysis of the progress of 12 countries, plus the U.S. states of California and New York, in transitioning to low-emission vehicles. The progress is measured against three catalysts: Government leadership and incentives, EV market maturity and readiness and EV charging infrastructure.
Government leadership and incentives
As is often the case, the stimulus for change has to come from the top. Some of the strongest catalysts for global EV adoption are new governmental policies and stricter environmental regulations. More and more, societies are embracing the need for green energy. This development goes hand in hand with countries and regions banning the sales of new ICE vehicles from 2030 onwards as part of their zero emission goals. Leading by example, some local and regional governments are transitioning their fleets. In the U.S., some states have introduced vehicle emissions standards for automotive manufacturers.
Many countries show that the strongest motivators come in the form of financial incentives, such as rebate programs and toll discounts for EV’s. These kinds of initiatives have encouraged adoption and are an effective way of budding the EV-market.
EV market maturity and readiness
The increased selection of passenger vehicle and light-duty EVs on the market can only partly be credited for the rise of EV adoption, for it still has its limits. Currently there are only 400 EV models available on the market, compared to many thousands of ICE models. To enable people and organizations to seize on government financial incentives, there should be more financially viable options for a wide array of uses. When it comes to maturity regarding affordability, fit-for-purpose vehicles and production capabilities, the EV-market still has some steps to take.
EV charging infrastructure
The availability of EV charging opportunities is growing at varying rates across the globe, as it has been largely led by individual markets. The adoption of EV’s is inextricably linked to charging infrastructure. Therefore, it is crucial that people and fleet owners have access to charging points near their homes and businesses, where ever they are going or coming from.
Investments should be made in improving technologies for compressing the duration of a charging session and increasing the driving range. This can maximize efficiency and make driving EV’s useful to everyone. This requires special consideration for users who live and work in rural or semi-rural locations, people with disabilities and communities that cope with varying disadvantages.
Get ‘free of charge’ access to more than 300 valuable EV Market Insights via www.EVMarketsReports.com, the world’s largest e-Mobility Reports and Outlooks database. Enjoy reading!