Thursday 01 September 2022

*UKHotViews Extra* The EV future is fast approaching

EV ChargingElectric vehicles (EV) continue to see high demand and increasing investment, reshaping the automotive industry, as well as national infrastructure. EV’s certainly seem to be the future but how far are we from that future becoming mainstream?

Well maybe it is getting that bit closer with the UK government unveiling a £20m plan to upgrade the UK’s electric vehicle (EV) infrastructure that will see 1,000 charge points installed across nine UK locations including Dorset, Durham, North Yorkshire, Nottingham and Suffolk.

The funding is part of the £20m Local EV Infrastructure (LEVI) pilot scheme which builds on the success of the On-Street Residential Chargepoint Scheme (ORCS) which has seen nearly 2,900 chargepoints installed so far.

While the number of EV’s vehicles on our roads continues to increase, challenges for adoption remain, especially around the current price of newer EV models, the need for accessible charging infrastructure and possible mileage distances. But there are also opportunities both for existing auto manufacturers and new entrants like Tesla, as well as for tech providers like chip manufacturer Nvidia who is quickly growing revenue providing chips for in-car systems and cloud platforms to test AI models. Retailers are also set to benefit from EV adoption by driver higher footfall with EV charging stations installed and personalised offers for EV drivers.

TechMarketView subscription service clients and UKHotViews Premium subscribers can read more details around the current state of EV’s and how these different challenges are being addressed in our UKHotViews Extra article here.

Posted by Simon Baxter at '15:28' - Tagged: autonomousvehicles   EV