Accelerating Electric Vehicles Adoption: Considerations for Power Utilities and Automakers

Abstract

Electric vehicles (EVs) are the biggest disruption the automotive industry has witnessed in several past decades and are expected to play a wider role in the global vehicle industry going forward. The study reviews existing literature to identify certain drivers such as zero emissions, low operational and maintenance costs and barriers around low range, less matured charging infrastructure and high price. To expedite EVs adoption by tackling these barriers, players across the EV value chain need to focus on certain practical considerations. Power utilities need to stress on building charging infrastructure, planning renewable capacity additions and reducing charging time. While for automakers, focusing on increasing investments in R and D leading to better range and lower costs, developing or acquiring EV expertise, raising awareness among others may increase EV penetration. The study also explores several areas of strategic partnership between them.