_{^{CHAPTER 3}}
Market ecosystem

EVs are changing the world
for the better

Inside this chapter:
- Electric transport is good for the economy

- Electric transport is good for cities

Electric transport is good for the economy

The e-mobility sector has entered a new phase, typical of many emerging industries, where a fragmented market with dozens of early stakeholders is ripe for consolidation. Mergers and acquisitions could mean that larger industry players will help shape the sector over the next five years.

Regardless, local economies stand to benefit from the momentum in EV charging through the creation of job opportunities in green energy and the development and installation of charging infrastructure.

In 2023, the European Union and the United Kingdom invested £326 billion into the clean energy transition. Of that investment, £142 billion, or 44%, went towards electrified transportation.

The European Union had the second-largest economy for global energy transition investment in 2023 with £270 billion, 43% (£116 billion) of which was towards electrified transport. This was a 43% increase in investment in electrified transport compared with the £81 billion invested in 2022.¹⁵

BNEF predicts £826 billion more will need to be invested in Europe by 2030 to reach net-zero goals.

According to a study done by EuropeOn, an electric contractors’ association, around 200,000 electricity-related jobs will be created in Europe by 2030 to support the electrification of transport. In addition, the European Commission is predicting up to 4 million new battery-related jobs will be created by 2025, driven by the formation of the European Battery Alliance.

15, 16 BNEF, Energy Transition Investment in Europe, 2024

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In 2023, £25.5 billion was invested into electrified transport in the United Kingdom.¹⁶

Electric transport is good for cities

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According to the European Commission, nearly a quarter of all GHG emissions in Europe are tied to transportation,and 76% of overall transport emissions in the EU are from road transport

specifically.In the United Kingdom, according to GreenMatch, 28% of all emissions are from road transport.

EVs are a significant piece of the puzzle when it comes to emissions reductions, benefiting cities with reduced air and noise pollution. In addition, EVs can be integrated with renewables like solar and wind power, helping cities decrease their dependence on fossil fuels and resulting in a more sustainable energy grid.

As of August 2023, the city of London had more than 1,000 e-buses on the road.

According to the European Environmental Agency (EEA), GHG emissions of electric vehicles can be 17% to 30% lower than the emissions of petrol and diesel vehicles. And the emissions to produce electric vehicles is expected to continuously decrease and could be cut by at least 73% by 2050.

EV charging is good for business

EV charging can certainly be a standalone offering, as with charging hubs set up for the primary purpose of allowing EV drivers to plug in and get a charge, but more and more organisations, from workplaces and retailers to fleet operators and auto OEMs, are realising that EVs are here to stay, and charging can enhance their existing business.

Commercial real estate
EV charging is a valuable amenity that helps attract and retain tenants while increasing property values at multifamily communities. Developers can benefit by achieving green certifications and complying with the latest environmental building codes.

Retail and hospitality
EV charging allows businesses to attract customers to their locations. Custom branding and integration with an organisation’s loyalty programs can promote customer engagement and encourage repeat visits, helping to put businesses on the map for millions of EV drivers across Europe.

EV drivers can access 23,000+ public ports in the UK using the ChargePoint app.¹⁷

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17 Internal ChargePoint data

Fleets lead the charge

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Commercial fleet
While diesel bans and sustainability goals have spurred fleet operators to make the switch to electric, a lower total cost of ownership (TCO) is an added motivator. Fueling an EV is around a third of the cost of its fossil fuel counterpart, while maintenance costs are a whopping 40% less.¹⁸ EV charging management software integrates with other fleet systems — including telematics — to help reduce costs, ease complexity and optimise operations every step of the way.

Fleet mobility
Many organisations are now offering electric options as part of their company car fleet. In some regions, employees who choose electric can get significant tax breaks. Integrated charging software makes it easy for employers to set up, monitor and pay for the charging activities of all the drivers who use a company car, no matter whether they charge at home, at work or in public.

Faced with the challenge of converting a hundred buses to 100% electric in one year, ChargePoint has established itself as a simple and effective solution for all our charging needs. ChargePoint now allows us to monitor in real time the autonomy of the vehicles, the charging at the terminals and our energy consumption."

Sandrine Boutry
Energy Transition Director, Keolis Alpes Maritimes

Forecast for yearly EV sales for commercial vehicles and eBus in Europe

European electric bus and commercial vehicle sales — Globally, at the end of 2023, more than 2.3 million electric buses and commercial vehicles were on the road.¹⁹

18 ChargePoint internal data
19 BNEF, Long-Term Electric Vehicle Outlook, 2024