Dailycsr.com – 02 July 2019 – Electric Vehicles are around us from sometimes. However, it has not managed to get “significant investment” to adapt and “displace the internal combustion engines” on a large scale.
Nevertheless, time seems to be changing now as EVs prepare to displace a “significant portion of the traditional ICE vehicle market, which presents interesting opportunities for Bechtel”, informed the Global Communications Sector’s head at “Bechtel Infrastructure and Power Corp”, Kelley Brown.
The mass-market release of EV batteries took place in “the mid-2000s”, while only in recent times we see a significant interest in the public for the same as more people are turning to EVs which could largely be due to “new and exciting models” of electric vehicles besides a growing concern about the ill-effects of carbon emissions.
The global auto industry has made heavy investments in developing “new mass-market EV models”. Some auto giants like “General Motors, Ford and Fiat-Chrysler” have made announcements of launching over forty “new EV models in the next five years” in the U.S. Similarly, in the Europe too many auto manufacturers have revealed that they will switch over to EV models across their vehicle line-up.
According to Reuters analysis that involved “29 large global automakers”, over “$300 billion” has been invested for developing electric vehicles across the globe. Therefore, we see several automakers are banking for a future of electric auto market. As a result, even though, at present there are many models of electric vehicles out there, soon the scenario will take a dramatic turn.
With more EV models being introduced in the market, it is expected to be a significant game changer which is likely to eat into a major “portion of the traditional ICE market”. Currently, only one percent of the vehicles running on the roads are electric vehicles, while by 2030, it is expected to rise up to twenty to thirty percent.
However, it is important to support this changing wave with “significant investment” to create “charging infrastructure”, as without adequate charging points “consumers will be reluctant” to buy electric vehicles. “In fact, the lack of EV charging stations is often cited as a key hurdle for consumers who are thinking about making the switch from an ICE to an EV”, writes Brown.
There is a global attempt to address the lack of EV charging facilities. While, Brown adds:
“If we want to be ready for the future of electric vehicles in the next three to five years, we need to think big and build the critical charging infrastructure in North America at large scale”.
Bechtel and General Motors, however, have collaborated to create “large-scale Direct Current (DC) fast-charging network in North America”, and Brown said:
“At Bechtel, we believe EV charging presents a compelling opportunity for our company as it combines three of our traditional markets – power, transportation, and communications infrastructure – and is representative of what defines us: building important large-scale projects”.
References:
3blmedia.com
Nevertheless, time seems to be changing now as EVs prepare to displace a “significant portion of the traditional ICE vehicle market, which presents interesting opportunities for Bechtel”, informed the Global Communications Sector’s head at “Bechtel Infrastructure and Power Corp”, Kelley Brown.
The mass-market release of EV batteries took place in “the mid-2000s”, while only in recent times we see a significant interest in the public for the same as more people are turning to EVs which could largely be due to “new and exciting models” of electric vehicles besides a growing concern about the ill-effects of carbon emissions.
The global auto industry has made heavy investments in developing “new mass-market EV models”. Some auto giants like “General Motors, Ford and Fiat-Chrysler” have made announcements of launching over forty “new EV models in the next five years” in the U.S. Similarly, in the Europe too many auto manufacturers have revealed that they will switch over to EV models across their vehicle line-up.
According to Reuters analysis that involved “29 large global automakers”, over “$300 billion” has been invested for developing electric vehicles across the globe. Therefore, we see several automakers are banking for a future of electric auto market. As a result, even though, at present there are many models of electric vehicles out there, soon the scenario will take a dramatic turn.
With more EV models being introduced in the market, it is expected to be a significant game changer which is likely to eat into a major “portion of the traditional ICE market”. Currently, only one percent of the vehicles running on the roads are electric vehicles, while by 2030, it is expected to rise up to twenty to thirty percent.
However, it is important to support this changing wave with “significant investment” to create “charging infrastructure”, as without adequate charging points “consumers will be reluctant” to buy electric vehicles. “In fact, the lack of EV charging stations is often cited as a key hurdle for consumers who are thinking about making the switch from an ICE to an EV”, writes Brown.
There is a global attempt to address the lack of EV charging facilities. While, Brown adds:
“If we want to be ready for the future of electric vehicles in the next three to five years, we need to think big and build the critical charging infrastructure in North America at large scale”.
Bechtel and General Motors, however, have collaborated to create “large-scale Direct Current (DC) fast-charging network in North America”, and Brown said:
“At Bechtel, we believe EV charging presents a compelling opportunity for our company as it combines three of our traditional markets – power, transportation, and communications infrastructure – and is representative of what defines us: building important large-scale projects”.
References:
3blmedia.com