The EV charging sector is poised to create hundreds of thousands of jobs and inject over €90 billion into the European economy over the next decade, according to a study commissioned by ChargeUp Europe. Despite some reports of slowing EV sales, the industry is expected to see significant growth as the proportion of electric vehicles in Europe continues to increase.
The study predicts that battery-electric vehicles will make up 44% of passenger cars in the EU by 2035, leading to a substantial increase in the demand for charging infrastructure. This surge in demand is expected to result in a 545% total growth in added value across the bloc, amounting to €92.4 billion.
However, one of the main obstacles hindering the full potential of e-mobility in Europe is the connection to electricity grids. The implementation of EV chargers needs to keep pace with the rollout of EVs, and there is currently an alarming lack of charging points across the EU. This issue is exacerbated by delays in grid connection due to a lack of investment by electricity distribution operators.
To address these challenges, the EV charging sector is calling for updated regulations at the national level to enable the expansion of charging infrastructure. Despite some concerns about grid capacity, the sector believes that once grid connection issues are resolved, there will be no major limitations to serving the market.
Industry representatives and policymakers at an event in Brussels emphasized the need for more support for the e-mobility market, including ensuring affordable EV models, boosting demand, preparing the grid, and maintaining competitive electricity prices. By overcoming these hurdles, the EV charging sector is poised to drive significant economic growth and job creation in Europe over the coming years.
Source
Photo credit www.euronews.com
