With worsening climate conditions, investing in solutions that target greenhouse gas (GHG) emissions is crucial. In 2020, the EPA found that transportation was responsible for 27% of GHG. Surging oil prices and government subsidies have helped to propel a technological solution that can help mitigate the impact of transportation on GHG: electric vehicles (EV). The industry has indicated a commitment to EV acceleration. Major auto manufacturers, including GM and Ford, have pledged to invest billions in EVs through 2025. Our Chief Impact Officer, Erika Karp, spoke with Wallbox’s Matthew Tractenberg, Investor Relations Officer, and Austin Wood, Director of Corporate Development & ESG, about the impact of EV charging, accelerating adoption rates, and associated supply chain challenges. Wallbox approaches EV charging through a consumer electronic framework. As 70% of charging is done at home, Wallbox produces user-friendly charging docks.
Impact of Electric Vehicles – Key Discussion Topics
- What is the current state of electrification in the transportation industry, and how is it evolving?
- How are near-term economic and geopolitical challenges affecting the broader adoption of electric vehicles?
- As the sector continues to mature, what business models are best positioned to succeed, and how should investors consider the opportunities?
Key Discussion Takeaways
Key takeaways from the discussion are highlighted below. Please also see the Resources listed at the bottom for links to other sources of information Wallbox cited. To access the webinar replay, click here.
- The automotive industry is approaching a critical point where there is price parity between electric and gas-dependent vehicles.
- Since cars sit idle for 90% of their lifetime, and 60% of trips are under six miles, electric vehicles have sufficient range to meet the daily travel requirements of the average driver.
- According to Wallbox, the American electricity grid can sufficiently support the predicted increase of electric vehicles.
If you have any questions or would like to discuss the webinar, Electrying Impact – the State of Electric Vehicles, please contact us.
Please see the PDF version of this article for important disclosures.
Resources:
Dennis, Maggie. “Are We on the Brink of an Electric Vehicle Boom? Only with More Action,” September 16, 2021. https://www.wri.org/insights/what-projected-growth-electric-vehicles-adoption.
Desilver, Drew. “Today’s Electric Vehicle Market: Slow Growth in U.S., Faster in China, Europe.” Pew Research Center (blog). Accessed May 31, 2022. https://www.pewresearch.org/fact-tank/2021/06/07/todays-electric-vehicle-market-slow-growth-in-u-s-faster-in-china-europe/.
“How Tax Credits and Government Subsidies Have Aided the Electric-Vehicle Market – WSJ.” Accessed May 31, 2022. https://www.wsj.com/articles/how-tax-credits-and-government-subsidies-have-aided-the-electric-vehicle-market-11637583826.
“The State of Electric Vehicle Adoption in the U.S. and the Role of Incentives in Market Transformation | Center for Sustainable Energy.” Accessed May 31, 2022. https://energycenter.org/thought-leadership/blog/state-electric-vehicle-adoption-us-and-role-incentives-market.
US EPA, OAR. “Electric Vehicle Myths.” Other Policies and Guidance, May 14, 2021. https://www.epa.gov/greenvehicles/electric-vehicle-myths.
“Fast Facts on Transportation Greenhouse Gas Emissions.” Overviews and Factsheets, August 25, 2015. https://www.epa.gov/greenvehicles/fast-facts-transportation-greenhouse-gas-emissions.
“Sources of Greenhouse Gas Emissions.” Overviews and Factsheets, December 29, 2015. https://www.epa.gov/ghgemissions/sources-greenhouse-gas-emissions.
White, Annie. “Here Are All the Promises Automakers Have Made about Electric Cars.” Car and Driver, June 26, 2021. https://www.caranddriver.com/news/g35562831/ev-plans-automakers-timeline/.
