The rise of electric vehicles (EVs) will bring about both enormous opportunities and challenges for the power industry. With planned investments and policies, the utilities will be able to serve new markets. Utilities should collaborate with EV manufacturers to boost EV charging offerings, vehicle-to-grid (V2G) services, energy storage, and renewable energy sources, says GlobalData, a leading data and analytics company.

According to GlobalData estimates, there were 10.74 million EVs on the road globally by the end of 2021. Production of battery EVs more than doubled in 2021 compared with the previous year. This growth is impressive considering the general declines in vehicle sales and production due to COVID-19 and the associated chip shortage.

On Thursday, 07 December 2022 at 3:00pm (GMT), the Power team at GlobalData will host a webinar on Electric Vehicles – Opportunities for Power Companies.

Register to Join GlobalData’s Director of Power Practice Harminder Singh to find out:

• Present state of the electric vehicles sector
• Market size and growth
• Factors impacting growth
• Opportunities for Power companies

Singh comments: “Electric vehicles provide a very attractive opportunity for power utilities. This industry is expected to show the fastest growth in power consumption as compared to other segments. The electricity demand from the global EV fleet is estimated to reach 780 TWh by 2030. Power utilities have a major role to play in boosting vehicle electrification and there is ample opportunity for utilities that are willing to invest in EV infrastructure and customer engagement. The improvement in utilisation rates of public charging will greatly enhance the prospects for charging station operators.”