2023電動汽車的六大要素

SixessentialsformainstreamEVadoption

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|Eurelectric

Aboutthisstudy

Disruptivegeopolitics—notably,thewarinUkraine,alongwitheconomicheadwinds,supplychaindisturbances,andclimateandregulatoryuncertainty—arefrustratingeffortstocurbgreenhousegasemissionsinthetransportsector.

Together,theyhighlightthefragilebutinterdependentrelationshipsbetweensixessentialcomponentsofthee-mobilityvaluechain:aresilientsupplychain,cleanandgreenpower,accessiblecharginginfrastructure,asmartgrid,digitalisationandskilledlabour.

Atthesametime,theEVindustryisnearinganinflectionpoint.Globally,EVsalesdoubledin2021andjumped55%in2022toaccountfor13%ofallvehiclessales.Thistrendlookssettocontinue,makingmass-marketadoptionimminent.Itwillbringwithitirreversibletransformationinroadtransport.But,iftherestoftheecosystemisneitherreadynorsufficientlyscaled,EVadoptioncouldstutterandfail.

Thisstudyexaminestheroleandinteractionofthesesixessentialsandexplorestheneedforacollaborativeandcoordinatedresponsefromecosystemplayersinpursuitofdecarbonisationgoals.ItisinformedbyexpertsattheEuropeanenergyindustrybodyEurelectricanditsmembers.ItiscuratedandaugmentedbyEYprofessionalswithextensiveexperienceinenergy,automotive,governmentandtechnology.Itincludesexperiencesandinsightsfromglobalindustryleadersintheecosystemofsupportingbusinesses,includingautomotive,utilities,fleetmanagement,cityplanningandcharginginfrastructure,aswellasexpertsfromindustrybodiesandtradeassociations.Wethankthemforsharingtheirexperiencesandopinionssoopenlywithus.

Foreword

By2035,inmostdevelopedeconomies,EVswillbetheonlychoiceforcustomerswhowanttobuyanewcar.Europe(EU27plustheUKandNorway),theUSandChinaleadthecharge.However,customersentimentissplit.

Somecustomerstakeaninterestinenergysecurityandsustainabilityandwanttoplayanactiveroleinthefutureenergysystem.Theyarealerttosolutionsthatcutpetrolandgasconsumptionanddelivereconomicandenvironmentalvalue.Theyaretheearlyadopters,whohavegotbehindEVs,boostingglobalsalesto13%oftotalvehiclesales.

OthercustomersmightlikeanEVorsolarpanelstooffsettheimpactofrisinginflationandhigherenergycosts.Buttheyaretooexpensive.YetitispreciselythesecustomersthatEVsmustreachifadoptionistoaccelerate,andtheassociatedbenefitsofreducedcarbondioxide(CO2)emissionsandacleanerplanetaretoberealised.Thesemass-marketconsumers—thenext60%ofdriversyettobefullypersuaded—needafewticksintherightboxesbeforetheycommittoapurchase.Thenthereistheremaining20%,thereluctantadopters,whoswitchtoEVsnotbecausetheywantto,butbecausetheyhavenochoice.

SalesfigurespaintapictureofanEVmarketgainingtractionglobally.Chinaisalreadyat27%EVadoption;Europehasseentwoconsecutiveyearsofstronggrowth,reaching17%in2021andjustover20%in2022;theUSiscatchingup.ButaretheconditionsrightforEVstotakeoffinthemassmarket?

Foreword(cont.)

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AcceleratedEVadoptionmuststartwithsettingtheambitionandsupportingitwithmandatesorregulation.Ifthathappens,themarketcanadvancewithcertaintyandattracttheinvestmentneededtosecurearesilientsupplychain.AndonlythencanEVcostsbegintocomedown,makingthemmoreavailableandmoreaffordableforall.Butthevehicleitselfisonlypartofthestory.Itmustbesupportedbyadequatecharginginfrastructure,intheplacesandspaceswherepeopleneedit.Itmustbeenabledbyasmartgridthatallowsthetwo-wayflowofgreenenergyandsupportedbydigitaltechnologiesthatmakeEVownershipsimple,flexibleandlikeable.Gettheseessentialsright,ande-mobilitybecomesthenewnormalforroadtransport.

Regulatorsdevisetherightframeworks.Automakersdelivernewpowertrains.Andutilitycompanieswillplayahugeroleinpushingthisfast-maturingindustrypasttheinflectionpointandintomassadoption.Theymustengageproactivelywithcityplannersandcontinuetobuildoutnetworksthatallowrenewables,andotherformsofdistributedassets,toconnecttothegrid.Theymustmanagenewloadatthepointofchargingandpursuenewtechnologiesthatenablethetwo-wayflowofenergyacrossthesystem.

EVnumberswillcontinuetorise,aconsequenceofmarketdynamicsandtechnological,regulatoryandeconomicdrivers.But,aswespeedtowardsthepointofnoreturn,utilitycompaniesmustcontinuetoplaytheircriticalroleindeliveringtheEVsolution.

TheEVmarketinnumbers

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Whereweare

26.8mn

globalEVstockin2022

10.5mn

GlobalBEVandPHEVsalesin2022

13%

ofallnewcarssoldin2022wereelectric

PublicchargerswillbeneededinEuropeby2035

>5mn

DevelopingEVecosystem Growingconsumeracceptance

2035banonthesaleofnewICEvehiclesintheEU

21EUMemberStatesofferedincentivesforthepurchaseofEVsattheendof2022,upfrom17in2021

US$1.2tncommittedbyOEMsthrough2030onEVs,

batteriesandmaterials

>300batterygigafactoriesinconstructionorplannedaroundtheworldwith>30inEurope

52%consumersplantobuyandEVastheirnextvehicle

38%ofconsumersstateenvironmentalconcerns

asthemainreasonforchoosingelectric

90%

consumersarewillingtopayapremiumforEV

>480kpubliclyaccessiblechargingpointsinEurope

139tariffsandservicesavailableinEuropeforEVsmartcharging

Bottlenecks/painpoints

34%

UpfrontcostofEVsis30%higherthantheequivalentaverageICEvehicle

availabilityofchargingstationsarethemainbarrierstoEVpurchase,followedbyrangeanxietyandcost

14.5mn

projectedBEVandPHEVsalesin2023

By2030,EYestimatesthatsalesofBEVsandPHEVswillmakeupoverhalfofglobalvehiclesales.Thatisthreeyearssoonerthanpredictedin2021.InEurope,thatcouldriseashighas74%and,intheUS,43%.EVsalesinEuropewillsurpassotherpowertrainsby2027.

Sources:

GlobalEVSalesfor2022,

\h

EV-Volumes

,2022

“

\h

Zeroemissionvehicles:first‘Fitfor55'dealwillendthesaleofnewCO2emittingcarsinEuropeby2035

”,EuropeanCommission,28October2022

\h

Overview–Electricvehicles:taxbenefits&purchaseincentivesintheEuropeanUnion(2022),

ACEA,2022

\h

EYMobilityLensForecaster

2022

\h

Thetimeisnow:smartchargingofelectricvehicles

,RAP,2022

EYMobilityConsumerIndex2022

\h

EUalternativefuelinfrastructure",EuropeanAlternativeFuels

\h

Observatory

,EuropeanCommission,accessed15February2023

“

\h

Exclusive:AutomakerstodoublespendingonEVs,batteriesto

\h

$1.2trillionby2030

”,Reuters,2022

EYChargingInfrastructureForecast2023

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Theglobaloutlookfore-mobility

01

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|Eurelectric

EVsalesareresilient

Ordinarily,economicheadwinds,acost-of-livingcrisisandrisingenergycostswouldweakengrowthinanewmarketsegment.Butthatdidn’tholdtrueforEVsin2022.

Onthecustomerside,higherenergycostsimpactedpricesatthechargingstation.Whetherathomeoronthepublicnetwork,itcostmoretochargeanEVin2022thanin2021.BritishroadsideassistancecompanyRACsaidthecostofrapidpublicchargingintheUKincreasedby42%betweenMayandSeptember2022.1

Ontheindustryside,theCOVID-19pandemicandthewarinUkrainedisruptedglobalsupplychains.Shortagesofchipsandescalatingpricesforsemiconductorsderailedautomakers’productionprocesses,forcingthemtoscalebackEVrollout.

EVsalesareresilient(cont.)

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Yetthemarketcontinueditsupwardtrajectory.Growthwasdrivenbymultiplefactors:

Regulatorsprovidedcertaintyinthefuturee-mobilitydirectionwithcommitmentsandtargets.Morecountriespledgedtophaseoutsalesofnewinternalcombustionengine(ICE)vehiclesorsetambitiouselectrificationtargetsforthecomingdecades.

GlobalEVsubsidiesandincentivesreachedUS$30bnbytheendof2021andcarriedoverinto2022.2InEurope,nearlyallMemberStatesnowoffersomeformoffiscalsupporttostimulatemarketuptakeofEVs.3

StrongsocietalandpoliticalurgencytodecarbonisewasbolsteredbyrenewedfocusonthesecurityoflocalenergysupplyandtheroleofEVsinreducingdependencyonfossilfuels.

Globalautomakerscontinuedtobuyintoe-mobility,committinginvestmentsofnearlyUS$1.2tnby2030toproductionfacilities,technology,EVbatteries,newproductsandthefuturesupplyofrawmaterials(primarilysemiconductorsandbatterymaterials).4

UtilityinvestmentinEVinfrastructureandcustomerprogrammescontinuedtogrow,drivenbycustomerdemand,revenueopportunitiesandsustainabilitygoals.5

Abumperyearfore-mobility

EVuptakeisacceleratingmuchfasterthananticipated.Wearealreadymovingintomass-marketadoption.

Globally,in2022,10.5millionnewbatteryEVs(BEVs)andplug-inelectrichybrids(PHEVs)weredelivered,anincreaseofmorethan55%on2021,makingup13%ofalllight-dutyvehicles(LDVs)sold.6EVstockgrew60%to

26.8million:

BEVandPHEVsalesand%growthfor2022vs.2021(million)

+15

%

0,7

+48

%

0,3

0,6

+89%

3,4

2,3

1,1

6,2

2,7

+55%

GrowthintotalEVsalesin2022

Million

Europe

Chinaisalreadyat27%EVsalespenetration.In2022,itaccountedfor59%ofglobalEVsales.DespiteCOVID-19lockdownsandsupplychaindisruptions,electricpassengervehiclesalesincreased82%on2021.7Therearenow15millionEVsontheroadinChina.

InEurope,EVsalesaccountedforjustover20%oftotalvehiclessoldin2022,upfrom17%in2021.Intotal,2.7millionweresold.TherearenoweightmillionEVsinEurope.8

IntheUS,EVsalesgrew48%in2022,topping1.1million

China

NorthAmerica

Others

2021 2022

+82%

vehiclesforthefirsttime. Source:EVVolumes-

\h

GlobalEVSalesfor2022

|Eurelectric

EVdemanddrivers

Industrycommentators,indiscussionwithEYanalysts,pointtoreasonswhytheEVindustrygloballyhasnotsuccumbedtoexternalmarketheadwinds.

CO2

emissionsrules

Ambitioustargetsforreducingtailpipeemissionsofnewcars,vansandtrucks

Electricpowertrainshift

Automakerscommittingtoanelectrifiedfuture

BanonICEvehicles

Effectivebanonthesaleofnewfossilfuelcarsfrom2035inmanycountries

Financeincentives

GovernmentsupportforEVsthroughincentives,rebates,taxcreditsforconsumers

Changingconsumerattitudes

GrowingcustomerconfidenceinEVsandinfrastructuresupportsincreasedsales

Morevehiclechoice

Betterperformance,rangeandtotalcostofownershipparitywithICEvehicles

Source:EYanalysis

|Eurelectric

Driverbackelectric

11|Eurelectric

“

Peoplearequicktoworry.Whataboutmyonce-a-year,1,000-miletriptoSanTropez?Theeverydayrealityisthatwedrivetothesupermarket,popinonmumanddad,visitfriends.Mostofthetime,we’redoingsmalltripsaroundtown,andwe’recertainlynotusinghugeamountsofrangeinonego–andwhenwedo,wecanrelyonrapidchargingontheway.

NatalieBerry

PublicAffairsManager,Fastned

Supportiveregulation,bettervehiclechoice,shortenedchargingtimesandbetterunderstandingofe-mobilitytechnologyarewinningovercustomers.So,too,istheenvironmentalargument.TheEYMobilityConsumerIndex9findsenvironmentalconcernsarethemainreasonforchoosingelectric(38%),withpenaltiesongasolinevehiclesalsoapersuadingfactor(34%).

TheEYMobilityConsumerIndexalsofindsthat:

Fifty-twopercentofrespondentsareleaningtowardsafullyelectric,PHEVorhybridvehicleastheirnextpurchase—upfrom20%in2020.ThisisthefirsttimethatthebalancehastippedinfavourofEVs.

Preferencesforfullyelectriccarshavetripled,from7%in2020to20%in2022.

Thegeographicalsplithasnarrowed.EuropeancustomersaremostlikelytobuyanEV(55%),comparedwith54%intheAsia-Pacificregionand39%inNorthAmerica.

Twenty-sevenpercentofrespondentssaytheupfrontcostofanEVisaconcern,downfrom50%in2021.

Fifty-fourpercentofEVownerssayretaillocationsarethemostconvenientnon-residentialplacestocharge.

Driverbackelectric(cont.)

12|Eurelectric

EVbuyingintent—%ofrespondentsplanningtobuyacar

52%ofcarbuyersareleaningtowardsnon-ICEvehiclefortheirnextpurchase

TopmotivationsforbuyinganEV

EnvironmentisthetopmotivatorforconsumersbuyinganEV

41%

30%

52%

19% 21%

16% 12% 20%

Environmental

concerns

Risingpenalty

onICE

Lowercostofownership

38%

34%

25%

7%

7% 10% 10%

2020 2021 2022

Fullyelectric/plug-inhybrid FullyelectricPlug-inhybrid Hybrid

Source:EYMobilityConsumerIndex2022

Monetaryincentives

EVshavenowlongerrange

Source:EYMobilityConsumerIndex2022

25%

24%

Momentumbuildsincommercialmarket

By2050,medium-andheavy-dutyvehiclesarepredictedtoachievenet-zeroglobalemissions.

GovernmentandcorporateeffortstoelectrifytransportprovideasolidbasisforgrowthincommercialEVsales.Penetrationislikelytoincreasetoaround5%in2023,upfrom3%in2022and1%in2021.

Chinaleadstheway.Itwillaccountforaround30%ofcommercialEVsalesin2023.GermanyandFrancecaneachexpect7%,withtherestofEuropelikelytoaccountfor15%.TheUSwilltrailat6%.Overall,aroundonemillioncommercialEVsareexpectedontheroadsgloballyin2023.10

Short-haultrucks,whichtypicallytravelwithina250-kilometreradiusandcoveraround50kilometresperday,andlightcommercialvehiclescanbechargedindepots,makingthemgoodcandidatesforelectrification.ThenumberofEVmodelsisincreasing,andcostsareimproving:

IntheUS,EVdemandalreadyoutstripssupplyinthecommercialsector.Thisisdue,inlargepart,tothe2022InflationReductionAct(IRA)andotherinitiatives.Theyhavepusheddownthetotalcostofownership(TCO),calculatedonadollar-per-milebasis,makingEVtrucksandvanscheaperthanICEequivalents.

AcrosstheEU,datafromTransport&Environment11suggeststhatlightcommercialvehicleshavealreadyreached,orwillreach,TCOparitywithdieselwhenpurchasesubsidiesareincluded.The

|aEvuererlaegcetrieclectricvanisnow25%cheaperthantheaveragedieselvan.

Heavy-dutypotential(cont.)

Moreelectricheavy-dutyvehicle(eHDV)modelsarenowavailable,withelectricbusesandtrucksbecomingcompetitiveonaTCObasis.

InEurope,nationalandcity-leveltargets12forpublicprocurementofzero-emissionbuses,aswellastheEUCleanVehiclesDirective,13areboostingelectricbussales.Meanwhile,designatedroutesandmandateddriverbreaksshouldmakeitrelativelystraightforwardtolocatetruckandbuschargingfacilitiesatappropriateintervalsalongmajorhighways,subjecttolandavailabilityandgridcapacity.

eHDVsaleswillpickupgraduallyasbatterydensityimprovesanddemandfromlong-haultruckinggrows.

Successfuldeploymentwilldependonproofofeconomicandsocietalbenefits,growingdriverfamiliaritywithEVs,andadvancesintechnology,aswellascharginginfrastructurethatcancaterforreturn-to-baseoperations.

Around15,000eHDVsweresoldgloballyin2022,up88%yearonyear.In2023,salesofapproximately33,000vehiclesareexpected,up116%yearonyear.OftotalcommercialEVsalesin2023,eHDVswillaccountforaround3%.14

|Eurelectric

Heavy-dutypotential(cont.)

“

Ourmissionistobuild1,700chargepointsatpubliclyaccessibletruckchargingpoolsalongsideEurope’smajorhighwayswithinthenextfiveyears—wellaheadofthemarket

demand.Weexpectthebattery-electricheavy-dutytruckfleetinEuropetogrowtomorethanonemillionvehiclesinthenext10years.

KoenNoyens

HeadofPublicAffairs,Milence

CharacteristicsofelectricLDVsandHDVs

~5.5xdistancetravelled

HDVstravelonaverage~62,000miles(99,800kms)annually,~5.5xthedistancetravelledbyatypicalpassengercar.

Upto13xenergyusage

TheenergyusagerequiredforeHDVscanrangefrom0.5kWhto5.2kWhpermilecomparedwith0.2kWhto0.4kWhpermileforlight-dutyEVs.

4xchargingcapacity

ChargingHDVsatmorethanonemegawattis~4xthechargingcapacityofaTeslaModel3.

3x

typicalchargetime

80–100minstoreach60%–80%ofstateofchargeforanHDVcomparedwith20–30minutesforalight-dutyvehicle.

Complexandheavychargingcables

Needforheavychargingcableswithincreasedsizeandcomplexity(i.e.,increasedweightandcost),orincreasedchargingvoltage.

Source:EYanalysis

|Eurelectric

Conditionsalignforself-sustainingEVindustry(cont.)

Wearemovingfromanincentiveandpolicy-ledmarkettoonethatisself-sustainingandbackedbycustomerdemand.Itishelpedbypricecorrectionsforcriticalminerals,followingrecordhighsin2022,whichwillfeedthroughintocheaperbatteriesandmoreaffordablevehicles.Assupplycatchesupwithdemand,globalsalesofplug-inandfullyelectricvehicleswillclimbfrom10.5millionin2022to14.3millionin2023:15

InChina,EVsubsidieshavemostlyexpired.YettheChinaPassengerCarAssociationprojectsaggressiveuptake,with8.5millionpassengerEVsalesin2023,equivalenttoaround32%ofvehiclessales,andupmorethan30%on2022.16

InEurope,EVsalesareprojectedtoclimb30%in2023assupplychainbottlenecksease.Customerswhopre-orderedin2022,totakeadvantageofexistingEVincentives,willboost2023salesfigures.Momentumisalreadybuilding.January2023registrationsofBEVsandPHEVsaccountedfor17%ofnewvehiclesales.17Germany,whichcutitsEVsubsidiesatthebeginningof2023,promptingaflurryoflast-minutepurchasesinDecember2022,expectstoseeitsEVsalesincrease26%over2022.18

IntheUS,theIRAwillhelpboostsalesofpassengerEVsto36millionvehiclesby2030,19upfrom2.4millionin2021.20NewandusedEVs,andbothpassengerandnon-passengervehicles,areeligibleforIRAtaxcredits.

|Eurelectric

Conditionsalignforself-sustainingEVindustry(cont.)

17|Eurelectric

TotalEVprojectedsalesin2023

14.3mn

“

Thepriorityissystemchangeandthealignmentofconditionsacrossthefiscal,financial,technicalandregulatorylandscapes.Youcanhaveprogressineachofthese,butyouneedtoprovethattogetheritiscohesiveandharmoniousandorchestratedinawaythatmakessense.

LucieMatteraSecretaryGeneral,ChargeUpEurope

BEVandPHEVsalesandoutlookfor2023(millions)

14,3

10,5

8,1

6,2

6,8

3,4

2,32,63,4

0,7

1,1

1,9

China

WestandCentralEurope

NorthAmerica

0,30,61.0

Restofworld

Global

2021 2022 2023e

Source:EVVolumes-

\h

GlobalEVSalesfor2022

and

\h

GlobalEVSalesfor2021

EVsalestomakeupmorethanhalfoftotalsalesby2030

18|Eurelectric

TheEYMobilityLensForecaster21estimatesthatbatteryEVsalesinEuropewillsurpassotherpowertrainsby2027.ItisatrendthatwillbemirroredinChinaandtheUSby2030.Comparedwith2021predictions,EuropeandChinaarealreadyoneyearaheadofwheretheyexpectedtobe;theUSisfouryearsahead.

By2030,EYestimatesthatsalesofBEVsandPHEVswillmakeuphalfoftheglobaltotal.Thatisthreeyearssoonerthanpredictedin2021.

Electriclightvehiclessalesforecast,byregion,2020–40

“

Thedirectionoftravelisclear;theroadaheadisnot.Thephase-outofICEvehiclesstarts

in2035.Itmightseemalongwayoff,butwecan’tjustkickthecandowntheroadandactoncethedeadlinegetscloser.Weneedtostartmovingnow,forthesakeoftheclimate,butalsotoensurethatthistransitionissmoothandmaximisesthebenefitsforall.

DominicPhinn

SeniorPolicyManager,TheClimateGroup

EVsalesexpectedtooutstripallotherenginesalesby2030100%

80%

60%

40%

20%

0%

20202022202420262028203020322034203620382040

China Europe US

GlobalEVsales>50%by2030

Source:

\h

EYMobilityLensForecaster

2022

Costsmustcomedownformass-marketEV

adoption

Globally,automakersareinvestingbillionsinelectricpowertrains.Greaterinvestmenttranslatesintogreatervehiclechoice.Attheendof2021,morethan450electriccarmodelswereavailableglobally.IntheUSalone,134modelswillgoonsalein2024,morethandoublethe2021figures.22

EVshavemovedbeyondtheluxurysegment,withmoreofferingsnowavailableatlowerpricepoints.Butcostremainsabarriertoadoptionandriskscreatingasocietaldivide:

EVsare27%moreexpensiveinEurope(€55,800)and43%moreexpensiveintheUS(€63,900)thantheirICEequivalents.TherearenoEVsavailableforlessthan€20,000inEuropeortheUStoday.23

InChina,whereEVstendtobesmallerthaninothermarkets,andcostlesstodevelopandmanufacture,vehiclescostinglessthan€15,000makeupalmost20%ofitstotalEVoffering.

19|Eurelectric

Costsmustcomedownformass-marketEVadoption

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“

WeneedmorevisibilityfortheoverwhelminglypositiveaspectsofelectricmobilityandEVcharging.WeneedtotalkmoreabouthoweasyandfunitistodriveanEVandhowsimpleandconvenientitistochargeit.Today’spublicdiscourseoftenrevolvesaroundpresumedlimitationsinavailablerenewableenergyandcharginginfrastructure.However,thesefearsarenotreflectedintherealworld.

Weneedtosharethepositiveexperiences.

StephanWunnerlich,

SeniorManager,e-mobility,EnBW

(cont.)

TheTCOgapmustbecommunicatedandunderstoodifEVsaretofindtheirappealinthemassmarket.ThoughmoreexpensiveupfrontthanICEequivalents,EVsarecheapertooperateoverthelifetimeofthevehicle.Andgovernmentsubsidies,whilestillavailable,canbeasmuchas20%ofthepurchasepriceofanEV.24

Otherincentives,likeroadaccessprivilegesanddedicatedparkingspaces,makeastrongcaseforswitchingtoEVstoo:

EVsaretwotofourtimesmoreefficientthanICEvehicles,sodrivingthesamedistancecostsconsiderablyless,creatingongoingfuelcostsavings.

EVshavefewermovingpartsthanICEvehicles,solesscangowrongandlessmaintenanceisneeded.

PolicythinktankEnergyInnovationestimatesthattheTCOforEVownersis,onaverage,€6,000lowerthanforICEownersoverthevehicle’slifetime.25

Regulationsetsdirection

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“

There’stheissueofland.DoestheecologyministryhaveaproblemusingfivehectaresoflandforHDVchargingandassociatedrenewablegeneration?Probably.Whataretheenvironmentalimpactsofusinglandforthispurpose,asopposedtootherpurposes?These,forsure,willbethequestionswedebateinthecomingyearsarounddedicatedeHDVcharginglocations.

AaronFishboneDirectorofPublicPolicy,GreenWayNetwork

RegulationisabigleverforEVadoption,givingconfidencetoconsumers,automakersandinvestorsaboutthedirectionoftravel.

InEurope,regulatoryinterventionsbuildtowards2035,whenbansonthesaleofnewICEvehiclescomeintoeffectinmanyjurisdictions:

TheAlternativeFuelsInfrastructureRegulation(AFIR)ensuresthattheswitchtolow-carbonorzero-carbonroadtravelissupportedbyadequatecharginginfrastructure.

TheRenewableEnergyDirectiverequires32%ofenergyconsumedinEuropeby2030toberenewable.

TheEnergyPerformanceofBuildingsDirective(EPBD)aimstoimproveenergyefficiencyinbuildingsandreducecarbonproduction.ItalsoincludesprovisionsforEVcharginginbuildingsandthe“righttoplug.”

CO2emissionperformancestandardssetmandatoryreductiontargetsforcars,vansandHDVs.

Regulationsetsdirection(cont.)

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“

Wecan’twaituntil2035andsay,ok,nowwego100%electric.Weneedclearlydefinedinterimsteps,withatrajectorytowards2035.

PhilippeVangeel

SecretaryGeneral,TheEuropeanAssociationforElectromobility(AVERE)

IntheUS,Californialeads.IthasvotedinfavourofbanningsalesofnewICEvehiclesby2035.Already,16%ofnewvehiclessoldinthestateareeitherzero-emissionvehicles(ZEVs)orPHEVs.Andsixstates,whicharehometo20%ofthemedium-andheavy-dutyfleetintheUS,haveadoptedCalifornia’sAdvancedCleanTrucks(ACT)rule.ItrequiresmanufacturersofClass2b-8vehiclestosellzero-emissionsvehiclesasanincreasingpercentageoftheirannualsalesfrom2024to2035.26

TheIRAandBipartisanInfrastructureLawfurtherincentiviseEVsalesintheUS.Morepackagesareanticipatedthisyear,includingUS$80bntosupporttheEVbatterysupplychain.

Regulationsetsdirection(cont.)

23|Eurelectric

DeclaredGreenGrowthStrategy—100%EVinpassengerLDVsalesby2035

JPY100bntosupportfactoriesforadvancedbatteries

DoubleditssubsidiesforpassengerZEVsregisteredfromDecember2020

150kchargingpointsby2030

BanICEsales,targets300kpublicchargingstationsby2030

UnderUK’sATF’upto￡1bninvestmentindevelopingahigh-valueend-to-endelectrifiedautomotivesupplychain

Fundingof~￡500mnduring2021–24formass-scaleEVbatteryproductionand

￡1.3bnforcharginginfrastructure

CO2emissionstargetforcars:15%reductionfrom2025onwardsand37.5%reductionfrom2030onwards

13mnpassengerZEVstockby2025and30mnby2030

BanonICEsalesby2035

1mnpubliclyaccessiblechargingstationsby2025and3mnby2030

KeyEUdirectivesandregulationsforEVadoptioninclude:AlternativeFuelsInfrastructureDirective;European

EnergyPerformanceofBuildingsDirectiveandBatteriesRegulation

Germanytargets10mnEVsby2030

EVpurchasesubsidyextendedto€9k

Investmentof€2.5bnforexpansionofEVcharginginfraandbatterycellproduction

Canada:InMarch2022,CA$1.7bnannouncedforZEVsincentivesaspartoftheERP

FederalbudgettoincludeaninvestmentofCA$2bnforacceleratingproductionandprocessingofcriticalminerals

requiredforEVbatterysupplychain

Keytransportpoliciesandtargetsbycountries

BEV/PHEV/FCEVstomakeup50%ofUSsalesby2030

Government’splanstoreplaceitsfleetof

~650KvehicleswithEVs

InvestmentofUS$7.5bninbothpubliccharginginfrastructureandelectricbuses

Buildanationalnetworkof500,000EVchargersacross35states

FasterAdoptionandManufacturingofHybridandEV(FAMEII)schemeoutlaysINR86bnforpurchaseofEVsandINR10bnforsupportin