Charging Ahead 3: Who wins?

The race to electrify our every move

It is probably now beyond debate that battery electric vehicles (BEVs) have won the race to drive the decarbonisation of road transport. Over the next 2–3 decades the global vehicle parc is set to undergo its most significant transformation since the advent of the automotive industry, with the main constraints on the rate of uptake currently geopolitics and supply chain issues. By 2035, we (and various industry and government bodies) expect every 1 in 2 cars in the UK to be a BEV. This will have profound implications for powering road transport: the number of miles driven annually by BEVs in the UK is expected to increase by ~4,000% between 2021 and 2035. However, the approach to EV chargers and charging remains much less clear. EV charging remains most convenient, and an order of magnitude cheaper, when at home; most Brits have off-street parking. And yet public charging is clearly rising as owner cohorts change and travel further afield, and use cases demand more reliability, convenience, and entertainment. EV charging is thus not just a substitute for petrol stations, but also a recasting of the electricity retail market, and of hospitality and leisure on the move.

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