The future is REALLY electric. Are you ready?
The vroom will be missing, but the hum will remind you of the part you played in creating a better world!
Committed to its fight against climate change, the European Union (EU) has agreed to ban the sale of new gasoline/diesel cars and light commercial vehicles by 2035.
The European Council last week agreed to introduce a CO2 emissions reduction target by 2035 for new cars and vans. This means only zero-emission cars — fully electric models — will be sold in the 27-country European Union (EU) after 2035 and even hybrids will not be allowed.
The EU is the third-largest polluter in the world and over the last year is negotiating reforms to decarbonise. The latest move is part of one of its biggest carbon reduction plans – Fit for 55 – that aims to reduce the EU’s emissions by 55% by 2030 in comparison to 1990 levels. The ultimate goal is to be carbon neutral by 2050.
The proposed law now needs final negotiation with the European Parliament. Once implemented, it would be one of the strongest laws to phase out carbon-emitting cars and vans, which account for about 12 percent and 2.5 percent of the EU’s total CO2 emissions. The Parliament also plans to have more electric vehicles (EVs) in public and corporate fleets via binding targets, which would help kickstart the second-hand EV market.
EV charging world
Against the regulatory backdrop of the EU, consumers are fast adopting EVs. In Europe, EVs account for 8 percent of new car registrations. Sales have shown robust growth, up 65 percent to 2.3 million in 2021, according to the Global Electric Vehicle Outlook 2022.
However, apart from phasing out ICE vehicles in the next decade, there is a glaring need to accelerate EV charging infrastructure to avoid any potential bottlenecks to the electric future. The latest vote is likely to be followed by another law that will require EU member states to get EV charging infrastructure in place and install millions of chargers.
According to McKinsey, more than 15,000 chargers per week need to be installed within the EU by 2030. The consulting firm further states that the public charge stations need to be increased at least between 2.9 million to 6.8 million from 340,000 in 2021.
But is putting all those chargers in the ground enough?
Scalability is the buzzword
The e-mobility industry cannot thrive only with more EVs on the roads and more chargers on the ground. The EVs need to be adopted at scale and chargers need to be operational, reliable, and accessible.
Scalability in e-mobility means adjusting the business pace to meet the market demand. This means if you are a charge point operator (CPO), simply installing more charge stations will not serve you in the long term. Instead, your business needs to be scalable. And a scalable CPO business means you can easily:
- Provide 24/7 functioning, reliable, and accessible chargers
- Monitor network health in real-time
- Employ automated diagnostics and remotely resolve errors
- Handle transactional and technical concerns with automated processes
- Customise the driver experience
- Expand your charging network into new markets
- Leverage smart charging to maximise your grid interconnection investment
- Connect to broad roaming networks, attract drivers, and increase asset utilisation
- Deploy different EV charger brands and models
- Adhere to the latest market regulations
- Adjust to enhancements in industry-standard communication protocols
- Adapt your unique business model to fulfil evolving market needs
The key to a scalable, profitable CPO business model with low capital and operating costs is having a single, back-end EV charging management platform to manage all of the above.
All these features are totally attainable through a hardware-agnostic, scalable software platform that promises smooth operations, customises to your business model and requirements, and ensures your customer data is secure at the same time. And most importantly – delivers on these commitments and promises.
Electric revolution is here!
The e-mobility industry is a big business opportunity and a clear contributor to a net-zero future. This electric revolution might be happening faster than you expected, but it is certainly happening.
The EU is ready to implement stricter regulations and consumers are ready to buy EVs. Make sure your CPO business is scalable, letting you offer a seamless charging experience to EV drivers and generating revenue at the same time. Not to forget, helping you contribute to the ongoing energy transition for a better, sustainable future. Make sure to match your back-end charging platform with your business goals and the latest technologies. The future will really be electric — make sure you are keeping pace.