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Given the significant role of chargers in electric vehicle transition, the EU needs to invest €80 billion

It is no secret that transitioning to electric cars can go a long way in reducing greenhouse gas emissions. However, it is only viable if there the charging infrastructure can handle the many necessary electric vehicles. Otherwise, it will be unfair to impose the transition to people under such conditions. According to Eurelectric, a power industry group, European Union (EU) need up to 80 billion euros, equivalent to approximately $96.5 billion, if they want a charging infrastructure ample for the transition.

EU has one of the tightest timetables as far as the transition to clean energy is concerned. As for the transport industry, the number of zero-emission vehicles should be at least 30 million by 2030. If things go as planned, it will mean reducing emissions by more than 55% by then. Data from the European Automobile Manufacturers’ Association show that the EU had around 615,000 zero-emission vehicles towards 2019. With such a trend and the schedules put in place, their target is sustainable and achievable.

Less than 250,000 charging systems serve the 615,000 vehicles. So, what happens in the event that the bloc hits the 30 million electric cars mark? It goes without saying that the number of charging stations needs to rise too. Ernst & Young (EY) and Eurelectric report that this figure should be 3 million by 2030. The latter is a representative of giant power companies and various national electricity associations.

The expansion will cost the EU for obvious reasons. It will set aside €80 billion for the charging stations, with €20 billion and €60 billion going to public and private sectors, respectively. Out of all the 63 million vehicle fleets in Europe right now, the portion of electric vehicles only comprises 420,000 EVs. However, Eurelectric projects that fleet electric vehicles, both public authorities- owned or those owned by companies, will rise to 10.5 million by 2030.

Just like in parts of the rest of the world, the coronavirus global pandemic has delayed the transition. It has slowed down the development of electric trucks and vans. Consequently, very few models of such vehicles are available in the market today.

The power industry group had a high recommendation to European Union. It suggested that carmakers should have no other option other than selling zero-emission cars exclusively. Come to think about it, which would play the trick. After all, the cars’ CO2 emissions standards are giving incredible results by promoting electric vehicle sales. Making them even more strict would see the transition even fast, which has a wide array of benefits.

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