Video | Solactive says 'EU infrastructure to charge EV vehicles is lagging behind upcoming sales'
Tesla has recently significantly expanded their Supercharger service in Europe by offering it to non-Tesla EV owners. We expect this move will encourage more EV manufacturers to join the trend of granting cross-brand EV owners access to chargers. Pure-play EV charging infrastructure companies may have further and deeper cooperation with local authorities or commercial partners to expand the current public electric charging infrastructure network.
Despite the global difficulties on supply chain and rising inflation, the EV sales have a robust growth. In the U.S. and Europe, new EV registration numbers in the first quarter of 2022 have increased more than 60% in both regions comparing with last year. Since more semiconductor factories and EV factories are under construction, and COVID restrictions are eased in most countries, we can expect that the EV sales would have better results as manufacturing would have stronger capacity and capability in the coming months.
According to a recent survey by University of California, Berkeley, more than 1/4 of the public charging stations in Greater Bay Area are not functional. We believe the industry still has huge potential to improve the system instability identification process and also the current product quality, which will bring the industry one step closer to a mature industry.
International Energy Agency launched Global EV Policy Explorer and summarized major national and local policies that support EV development. We expect the strong growth in revenues and charging sessions to continue as international organizations and governments continue to incentivize electric vehicle purchases to meet net zero carbon emission goals. This is likely to further accelerate as purchasing bans for combustion engine cars start kicking in towards the end of the decade.
Learn more about our EV charging ETF here.