On Electric Vehicles, Electric Charging and More
Last week, Mercedes-Benz said, “[it] is getting ready to go all electric by the end of the decade, where market conditions allow … By 2022, Mercedes-Benz will have battery electric vehicles (BEV) in all segments the company serves. From 2025 onwards, all newly launched vehicle architectures will be electric-only and customers will be able to choose an all-electric alternative for every model the company makes.“
Mercedes-Benz CEO Ola Källenius said, “The EV shift is picking up speed - especially in the luxury segment, where Mercedes-Benz belongs. The tipping point is getting closer and we will be ready as markets switch to electric-only by the end of this decade … I am convinced that we will be successful in this exciting new era.”
Tesla CEO Elon Musk said, “We created our own [EV] connector, as there was no standard back then & Tesla was only maker of long-range electric cars … we’re making our Supercharger network open to other EVs later this year."
The City of Vancouver, CA said, “[the] City Council has approved requirements to expand access to EV charging, as more residents and fleet managers transition to electric vehicles … The new regulations require EV charging infrastructure in 45% of parking stalls in most types of new non-residential buildings, 100% of new car-share stalls, and all stalls in new hotels."
The Tennessee Department of Environment and Conservation (TDEC) announced a partnership with Rivian to install EV charging stations at over 50 Tennessee State Parks.
TDEC Commissioner David Salyers said, “As Tennesseans increasingly rely on electric vehicles, our state parks can play a significant role to enable recreation in all corners of our state … TDEC is committed to clean air, and the shift toward electric vehicles is an excellent step forward for air quality.”
Note: Rivian investors include T. Rowe Price, Amazon, Standard Chartered Bank, Ford, and Cox Automotive
U.S. convenience store operator Stewart’s Shops said, “You know that at Stewart’s Shops you can stop to fill up on gas or fill up on your favorite snacks, but did you know that you’ll soon be able “fill up” your electric car battery … These chargers are powerful enough to provide a full charge to your electric vehicle in just 15 to 30 minutes …
"The DC (Direct Current) fast chargers have three kind of plugs to make sure you and your electric vehicle of choice can stop in and get a charge on the go … but don’t worry if you have a Tesla; some charging stations will have a Tesla Adapter."
OUR TAKE
The increasing availability of electric vehicles and charging stations are critical factors to sustain positive market momentum.
Mercedes’ comment that they are “ready to go …where market conditions allow” highlights that they (and other market participants) will adapt to market demand – which can vary by geographic region, use cases, infrastructure availability, and cost dynamics.
More broadly, the nature of transportation, logistics, and mobility are changing – driven by the introduction of innovative technologies, new vehicle form factors, and new business models – mass transit, bikes/e-bikes and walking are also environmentally friendly means of transportation.