EV News Roundup – 19: Government Increases Funding For Chargepoints And Orkney Leads The Way In EV Adoption!

woman and car

Government Doubles Funding For On-Street Electric Car Charging 


UK Transport Secretary Grant Shapps has announced an additional £2.5 million to fund the installation of another 1,000 new chargepoints.   The funding will support the on-street residential chargepoint scheme. The scheme, launched in 2017, provides access to EV charging for household that do not have home charging infrastructure.  It is part of the broader £1.5 billion investment underpinned by the Road to Zero strategy.  

Grant Shapps said, “It’s fantastic that there are now more than 20,000 publicly accessible chargepoints and double the number of electric vehicle charge points than petrol stations, but we want to do much more.” The UK government is also investing £37 million to develop new charging solutions for households without access to off-street parking.  The chargepoints can be built into existing infrastructure like lampposts.  

Electric vehicle charging
Electric Vehicle Charging (credit: gov.uk)

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It is indeed good to note the continued commitment of the UK government to achieving net zero emissions by 2050.  In particular, urban areas will most benefit from on-street public EV charging infrastructure, as a significant number of households in the UK do not have access to private parking. However, we believe the government will need to commit significantly  more capital to urban areas in the UK.  Currently a number of households living in dense city centers are unable to own and drive electric cars, due to the limited available residential charging infrastructure.  


Peak ICE Well Past In UK As Electric Car Sales Surge


The July 2019, new car registrations update, is another sign of the decline of petrol and diesel cars in favour of fast increasing all-electric electric vehicles.  Another interesting observations from the SMMT market update is the much stronger performance of battery electric vehicles (BEVs) compared to plug-in hybrid electric vehicles (PHEVs).  A sign that BEVs are now maturing in terms of battery technology and range. 

The increase in EV sales is also being witnessed in other markets.  In California, EVs have reached nearly 10% of all new car sales. 

electric vehicles charging in car park to include Nissan Leaf
EVs Charging (credit: The Driven)

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There is no doubt that all-electric or pure electric car sales are increasing, in particular, capturing market share at the expense of diesel cars and PHEVs.  We at e-zoomed expect this theme to continue to dominate with BEVs gaining most from the significant decline in diesel sales.  We also predict that PHEVs will eventually be phased out, as automotive manufacturers focus on developing a portfolio of only BEVs. 


Is Orkney ‘In The Fast Lane’ On Electric Vehicles?


According to the BBC, Orkney, part of the Orkney and Shetland archipelago, is leading the charge on electric vehicles in the UK. Orkney is already known for its leadership in renewable energy, producing more than it consumes.  Wind energy commenced in the 1950s and over the past decade the island has also been involved with wave and tidal electricity.    

EVs like the ubiquitous Nissan Leaf and Renault Zoe are common sight in Orkney, with over 200 EVs on the road (2% of total cars and vans on the road).  However, the acquisition costs of EVs are placing zero-emissions cars beyond the reach of younger drivers that seek the green credentials of EVs. 

electric vehicle recharging point

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We at e-zoomed are not surprised that Orkney is fast emerging as one of the leading communities for EV adoption in the UK.  Scotland has developed significant renewable energy generation over the past decade, in particular, wind energy, establishing strong green credentials.  



Author

Ashvin Suri

Ashvin has been involved with the renewables, energy efficiency and infrastructure sectors since 2006. He is passionate about the transition to a low-carbon economy and electric transportation. Ashvin commenced his career in 1994, working with US investment banks in New York. Post his MBA from the London Business School (1996-1998), he continued to work in investment banking at Flemings (London) and JPMorgan (London). His roles included corporate finance advisory, M&A and capital raising. He has been involved across diverse industry sectors, to include engineering, aerospace, oil & gas, airports and automotive across Asia and Europe. In 2010, he co-founded a solar development platform, for large scale ground and roof solar projects to include the UK, Italy, Germany and France. He has also advised on various renewable energy (wind and solar) utility scale projects working with global institutional investors and independent power producers (IPP’s) in the renewable energy sector. He has also advised in key international markets like India, to include advising the TVS Group, a multi-billion dollar industrial and automotive group in India. Ashvin has also advised Indian Energy, an IPP backed by Guggenheim (a US$ 165 billion fund). He has also advised AMIH, a US$ 2 billion, Singapore based group. Ashvin has also worked in the real estate and infrastructure sector, to including working with the Matrix Group (a US$ 4 billion property group in the UK) to launch one of the first few institutional real estate funds for the Indian real estate market. The fund was successfully launched with significant institutional support from the UK/ European markets. He has also advised on water infrastructure, to include advising a Swedish clean technology company in the water sector. He is also a member of the Forbury Investment Network advisory committee. He has also been involved with a number of early stage ventures.

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