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Future of World Transport and the Rise of the Electric Vehicle

Published On: 8th June 2018

Future of World Transport Conference (19th to 20th June)The UK government is certainly not found wanting when it comes to its Electric Vehicle (EV) ambition – to be a global leader in clean transport.

Other countries such as China and USA seem to be forging ahead. Gemserv’s research suggests we will struggle to meet the rapid growth of EVs that is currently being spearheaded by other countries who also want to dominate the EV space. But why is this?

On the plus side, we have over 100,000 EVs in the UK, a number that is projected to grow to a million by 2022. However, this is still just a 10% of all new registrations by 2022. How do we then achieve our goals? What are the key challenges that need to be overcome to enable a rapid EV uptake in the UK?

Gemserv commissioned a YouGov survey to find out what will motivate consumers to purchase an EV. Interestingly, tax breaks were not top of their list, whereas availability and access to infrastructure was clearly a key concern. For example, 50% of the survey said they would be most likely to purchase an EV if charging stations were easily available, and 36% said if the cost of charging the electric vehicle was low.

So how do we deliver against the UK’s global ambition? Clearly, there are challenges to be addressed. We believe that creating the right market conditions is paramount if the UK is to realise its ambition to be a global leader. What we need is a greater political and regulatory thrust for EV charging systems to accelerate mass EV adoption.

If you want to find out more about our latest thinking on the priorities for supporting the growth of the EV market in the UK, please come and join us at the Future of Transport World Conference on 19-20th June, where our Rubina Singh will be presenting on how reshaping energy markets will support future EV transport infrastructure.

 

Article Author.

Tony Thornton

Head of Strategy
Tony is the Head of Strategy for Gemserv, bringing over 30 years of energy market experience, including the management of... Read More From Tony Thornton

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