The UK government wants to be a leader in low-carbon mobility and accelerate the adoption rates of electric vehicles (EVs). Moreover, concerns around air quality is a major issue across many large cities in the UK and therefore underpinning the need for a shift in mobility patterns. With this in mind, the government has set a target of banning the sales of all new petrol and diesel cars by 2040. In October 2018 parliament’s business select committee recommended the target be brought forward to 2032.
PwC and Strategy& (PwC’s global strategy house) identified electric vehicle charging ‘infrastructure’ and ‘experience anxiety’ as critical catalysts to stimulate electric vehicle adoption in the UK. This is a complex, arcane and highly competitive and innovative market in its infancy. We are witnessing a proliferation of companies competing with very different business models. Many of these charge point operators are looking to build market share in evolving charging segments. These segments range from charging at home and in the workplace to newer modes, such as destination charging (at supermarkets for example) and rapid charging.
They also believe the charging market while nascent is reaching a critical tipping point. Major energy companies (from integrated oil and gas companies to European utilities) are interested in this emerging segment and significant investment is flowing in. Knowing how to play in this market, identifying which business model is more likely to succeed and understanding the distinct dynamics of each charging segment are core elements of our thought leadership campaign.
The strategic relationship between Energy UK and PwC has been critical to the success of the report, to analyse the evolving business models required to succeed in charging. Whilst also developing a perspective on the outlook of different charging segments. The report, Powering ahead! was part of an ongoing campaign where they had already launched a broader paper (Charging ahead!) advocating the need for a government-led roadmap for upscaling the UK electric charging infrastructure.
The net result of this campaign has been to reinforce PwC and Strategy& as thought leaders in this emerging and critical area. PwC and Strategy&, alongside Energy UK have helped establish an ecosystem of key stakeholders, elevating the importance of charging, as well as educating the investment community and charging players (existing and potential) on the operating fundamentals of this sector. By bringing this community of interested parties together and mapping out a road map on business models, their collaboration has acted as a catalyst to stimulate the successful evolution of charging infrastructure
in the UK.
View the PwC company profile in the MCA Members Directory.