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Embracing the Inevitable: Electric Mobility in Europe
In recent years, Europe has emerged as a trailblazer in the transition towards sustainable transportation. The continent's commitment to combating climate change, coupled with robust legislation.
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Europe boasts a comprehensive framework of legislation that promotes electric mobility. The European Union (EU) has set ambitious goals to reduce greenhouse gas emissions, and transport represents a significant share of these emissions. Key regulations include:
a. European Green Deal: In December 2019, the EU launched the European Green Deal, aiming for a carbon-neutral Europe by 2050. This overarching strategy provides a clear vision for sustainable mobility and emphasizes the importance of electric vehicles (EVs) in achieving emission reduction targets.
b. EU Emission Standards: The EU has implemented stringent emission standards for passenger cars and light commercial vehicles. These regulations incentivize automakers to shift towards electric and low-emission vehicles, encouraging investment in the electric mobility sector.
c. National Regulations: Several European countries have introduced measures to support electric mobility. For instance, Norway, a global leader in EV adoption, offers substantial incentives such as tax exemptions, toll discounts, and free charging infrastructure, leading to a remarkable 82% EV market share in 2020.
- Today 91% of the world's population breathes highly polluted air and 23% of CO2 emissions come from the transport sector.
- Climate change is potentially the most devastating and hardest problem that we have faced during our existence.
- Emobility is by far the best solution to fight against climate change and to improve air quality.
A robust charging infrastructure is essential to drive the widespread adoption of electric vehicles. Europe has made remarkable progress in this area, with an increasing number of charging stations and supportive policies, including:
a. EU Directive on Alternative Fuel Infrastructure: This directive mandates the installation of a comprehensive charging network across member states, ensuring a sufficient number of publicly accessible charging points. This commitment facilitates long-distance travel and reduces "range anxiety" for potential EV owners.
b. Private and Public Investment: The European Investment Bank (EIB) has pledged significant funds to support the expansion of charging infrastructure. Private companies, energy providers, and local governments are also investing heavily, creating a robust charging network across urban areas, highways, and parking facilities.
Source: BloombergNEF - EVs* Electric Vehicle - **ICE: Internal Combustion Engine
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The electric mobility market in Europe is experiencing exponential growth, driven by various factors:
a. Falling Battery Costs: The cost of EV batteries has plummeted over the past decade, making electric vehicles more affordable and competitive with internal combustion engine (ICE) vehicles. This cost reduction, coupled with increasing energy density, has led to longer driving ranges and improved performance.
b. Favorable Total Cost of Ownership (TCO): Despite higher upfront costs, EVs offer lower operating and maintenance costs compared to traditional vehicles. Reduced fuel expenses, tax benefits, and lower maintenance requirements contribute to a compelling TCO advantage, making EVs an attractive choice for cost-conscious consumers and businesses.
c. Changing Consumer Attitudes: Public awareness and concern about the environmental impact of transportation have surged. Consumers are increasingly prioritizing sustainable options, and electric vehicles align perfectly with this mindset. According to the European Automobile Manufacturers Association (ACEA), electric vehicle sales in Europe increased by 137.7% in 2020, demonstrating a clear shift in consumer preferences.
Have a look to this pictures from the fifth Avenue in New York City.
In the picture on the left we can see two combustion cars in 1900, only 12 years later, in 1913 we can see a horse-drawn carriage and the rest are combustion cars... It is an extremely rapid transformation of the industry.
Fifth Avenue NYC - 1900 & 1913
In the next 15 years we are going to experience a similar transformation on the eMobility sector.
Europe stands at the forefront of the global electric mobility revolution, and the momentum towards sustainable transportation is unstoppable. Legislative support, ambitious environmental commitments, expanding charging infrastructure, and a growing market fueled by changing consumer attitudes all contribute to the inevitable rise of electric mobility in Europe.
One of the biggest barriers to eMobility is the user experience and the charging infrastructure
Even we see big efforts in Europe in terms of electrification, the charging infrastructure is insufficient and far away from what we need. On top of that, it is a long way to go still if we talk about quality and services around the eMobility.
The information presented in this document is for informational purposes only.
The information is still under development and subject to change.
Last modified 8d ago