Among the three-volume leaders in the mainstream part of the new vehicle industry - Chevrolet, Ford, and Toyota, th… https://t.co/BBGUfdUjEM
UK government consulting on mandatory EV charging points
The UK's Department for Transport (DfT) has announced that it has begun a consultation on making all new-build housing projects install electric vehicle (EV) charging points. According to a statement, it comes as part of a wider government consultation on changing building regulations in the country. At the same time, the government has also said that it is pushing for all newly installed rapid and higher powered EV charge points allowing payment to be made by debit or credit card by the end of the first half of 2020.
Significance: Demand for EVs is continuing to grow, supported by current government incentives and the growing number of products on the market. In terms of market share such vehicles remain at an exceptionally low level though , especially when taking in to account the government's target of ending the sale of gasoline (petrol) and diesel passenger cars by 2040, if not before. The government is looking at a range of other ways of easing the transition to this new powertrain type. While it is pushing for the expansion of the EV charging infrastructure in the country, with standard card payments reducing some of the need to join various charging company schemes to avoid being stuck, many drivers will end up charging most of the time at homes. Having seen the retrofit of around 100,000 domestic charging points through grant-support schemes to homes, the mandating of points in new dwellings could open the door to homeowners who had never considered an EV before. At the same time, these are also likely to be smart chargers that will help reduce the pressure on the grid through returning some electricity at peak times .
This article was published by S&P Global Mobility and not by S&P Global Ratings, which is a separately managed division of S&P Global.
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