Renewable tech and profitable business go hand in hand. Take away one and you'll eventually lose the other. So what's the situation for eMobility?
Right now EV innovation is at an all time high, almost all of the major car brands have an electrification program and infrastructure is also growing. But is this innovation translating into a sustainable change? How do you create value for your company with EV business models so that it's more than a vanity project? On July 29th that’s exactly what we discussed as part of the EVBox Webinar series.
EVBox Webinars brings together strategists, developers and decision makers from the mobility sector. It’s designed to be a dialog, that’s why it includes short talks, a panel discussion and audience polls.
Here are our top 5 takeaways:
Early adoption is over, mass growth starts now
Balraz Singh, Everon, Business Development, looked to the past to show how EV adoption has passed its nascent phase. Buying an EV today no longer makes you a trend setter or “lighthouse customer”. Despite ICE dominance, EV’s are driven by millions of people, their infrastructure has grown and market penetration has been achieved. The focus is now moving from innovation to scale, the business model of the future also needs to grow.
39% of people think purchasing an EV is still too much and 18% think a home charging station is too expensive
Price is a barrier for many industries and eMobility suffers the same difficulty. Despite studies showing the long-term price benefits, research by Accenture shows that it remains an issue. Lasse Kari, Accenture’s European Lead for Utilities explained that, this figure could get worse with the financial impact of COVID.
29% of people have no plan to buy an EV, they simply are not interested. (Accenture, 2020)
There’s work to be done! A third of consumers still don’t see the benefits.
EV charging will shift from 60% in the home to 40%
Alexander Krug, Partner at Arthur D Little, gave us a sneak peek of what the EV charging market will look like in 2030. As the current share of home charging decreases from 60% to 40% we will see charging as an activity change too. DC charging will increase but so will home smart charging. The business models for both environments need to take these elements into consideration.
58% of the webinar guests thought proposition management is the biggest barrier in creating a successful EV charging business
With 100+ webinar guests from a range of industries, we had the perfect chance to collect some data. Given a choice of potential barriers, it was clear that proposition management ranked number 1 as the most difficult. Interestingly Lasse Kari discussed smart bundling as a solution. Whilst there is variety in the purpose of current players the EV drivers just don’t care about the details, they want to charge. Perhaps bundling can simplify the propositions?
This instalment of EVBox Webinars highlighted many opportunities and challenges in the pursuit of a perfect business model. The truth is, one solution isn’t enough. Huge growth is expected, by 2030 there could be 250 million EV drivers using more than 400 different types of vehicle. Is your business ready for the change?
View the full webinar:
That’s not everything
You can watch the EVBox webinar series on YouTube, you’ll find topics such as:
If you want to learn more about eMobility sector you can check out our articles here.