Dedicated charging for heavy-duty vehicles is the next frontier
Electric HDVs can generally use the same charging points as LDVs, but the larger size of both the vehicle and battery, and the resulting longer charging times required can disrupt normal operations, ultimately creating a need for dedicated equipment and facilities. HDV charging facilities of this kind are still in the early stages of large-scale development and deployment.
Progress is being made globally on developing standards for megawatt-scale chargers, with the aim of achieving maximum interoperability for electric HDVs. This will be essential to enable a fast roll-out of the charging technology, and mitigate any potential risks and challenges faced by vehicle manufacturers, importers, international operators and equipment providers. In 2023, the EuropeanUnion and UnitedStates produced a set of recommendations for charging infrastructure, including the harmonisation of standards between the two regions. In essence, this provided recognition of the adoption of the megawatt charging system (MCS) – which allows charging capacity up to 3.75MW – by international standardisation organisations such as SAE International and the International Organization for Standardization (ISO). Some companies such as Kempower, who mainly operate in Europe but are expanding globally, are expected to introduce chargers designed to operate at up to 1.2MW in 2024, ahead of the formal standardisation of the MCS, though this is not expected to cause issues of divergence. In Asia, predominantly in China and Japan, the ChaoJi-2 began demonstration in late 2023. Although ChaoJi-2 has a lower power rating than the MCS (up to 1.2MW), it allows for compatibility with existing standards in the region.7
In March 2024, the United States released the National Zero-Emission Freight Corridor Strategy. This sets out a phased approach to electrifying road freight, starting with establishing charging hubs at locations such as rail yards and airports, before expanding the network with the aim of achieving full coverage sometime between 2035 and 2040. Smaller demonstrations have also been undertaken, such as the Run on Less – Electric DEPOT scheme, through which around 140charging points were installed at 10depots across the United States. According to data collected by the Atlas EV Hub, a further 210 charging points are already operating in the UnitedStates to serve electric trucks, and another 1020 are planned, around 75% of which are due to be completed in 2024. The weighted average capacity of chargers whose power was included in the database is 180kW, with almost 95% being direct current fast chargers.
To date, there are around 160 truck-specific charging points deployed in Europe. In early 2023, Europe’s first truck charging corridor was launched along a 600km stretch of the Rhine-Alpine corridor, one of the busiest road freight routes in Europe. All 6 public charging locations are fitted with 300kW charging points. The company behind the corridor, BP pulse, is also electrifying one of the largest truck stops in the United Kingdom.
Looking forward, the EU AFIR details the progressive roll-out of minimum coverage and capacity for HDV charging stations, specifying that each station must include at least one charger of at least 350kW power output by the end of 2025. Alongside national policies, AFIR has sparked the creation of several pilot programmes dedicated to charging HDVs using MCS charging, such as HoLa, ZEFES, HV-MELA-BAT, and a joint ABB and Scania project. In late 2023, Milence, an independent joint venture established by Traton, Volvo and Daimler, presented their HDV charger. In collaboration with Hitachi Energy, they plan to build 1700 public charging points across Europe by 2027, based on the MCS.
Although high-powered charging can enable the decarbonisation of freight, it may also present challenges for the electricity grid, like fluctuations in power quality or supply-demand imbalances. These imbalances can cause grid congestion at the local level, and could affect entire regions where there is a large electric HDV fleet. Some countries, such as the Netherlands, are already developing policies to anticipate these issues. One way to mitigate challenges and avoid peak demand is through stationary storage batteries that are co-located with high-powered chargers. This solution would require significant capital expenditure (CAPEX) for the installation of large, stationary batteries, but it could also offer new revenue streams to charging station owners, such as through electricity price arbitrage or grid services provision. Co-locating renewable sources close to charging hubs can also decrease the stress on the local power grid. The electricity grid is a key enabling technology for HDV electrification, and careful planning and investment will be required in order to accommodate new loads. For further analysis of the impacts of HDV charging on the electricity grid, see the Outlook for electric vehicle charging infrastructure later in this report, as well as the recently published Electricity Grids and Secure Energy Transitions.
FAQs
In 2024, electric car sales in the United States are projected to rise by 20% compared to the previous year, translating to almost half a million more sales, relative to 2023. Despite reporting of a rocky end to 2023 for electric cars in the United States, sales shares are projected to remain robust in 2024.
What is the EVSE market forecast? ›
Over the course of the projection period, the market for electric vehicle supply equipment has grown at a CAGR of 33.19%. The global market for electric vehicle supply equipment is expected to generate approximately USD 30.24 billion in sales in 2023 and USD 398.82 billion by 2032.
How many electric cars are sold each year? ›
Notes: California had approximately 903,620 light-duty electric vehicle registrations in 2022.
What is the growth forecast for the EV industry? ›
Electric Vehicles - United States
The Electric Vehicles market in the United States is projected to reach a revenue of US$82.8bn in 2024. It is expected to show an annual growth rate (CAGR 2024-2028) of 18.20%, resulting in a projected market volume of US$161.6bn by 2028.
What is the EV outlook for 2025? ›
Total EV sales reach over 20 million in 2025 and over 40 million in 2030, representing over 20% and 30% of all vehicle sales, respectively.
What is the EV forecast for 2027? ›
Gartner predicts that by 2027, 15% of EV companies founded since the last decade will be acquired or bankrupt. “This does not mean the EV sector is crumbling. It is simply entering a new phase where companies with the best products and services will win over the remaining,” said Pacheco.
What is the projected demand for EV charging stations? ›
Key drivers and trends in charging
And energy demand for public EV charging is forecast to increase by 50 times between 2023 and 2050. Another key growth factor is the change in demand in different EV charging use cases, which is shifting from charging electric vehicles at home to public charging.
What is the future growth of ChargePoint? ›
For the first quarter of fiscal year 2025 ending April 30, 2024, ChargePoint expects revenue of $100 million to $110 million.
What is the future of EV supply chain? ›
The rise of EVs poses a particular risk for auto suppliers. Major systems that are essential to vehicles with internal combustion engines are absent from EVs. Makers of exhaust systems, fuel systems, and transmissions face the prospect of disruption as EVs become more mainstream.
What is the #1 electric car? ›
The best electric car is the 2023 Chevrolet Bolt, with an overall score of 8.4 out of 10. The best luxury electric car is the 2024 Lucid Air, with an overall score of 8.5 out of 10. What is the best electric SUV? The best electric SUV is the 2024 Hyundai Ioniq 5, with an overall score of 8.4 out of 10.
The Tesla Model Y is #1 again in the electric vehicle market. Registrations were up 63% year over year (YoY) in January, to over a million units. China's market was the main driver of growth. Share-wise, 2024 started with plugin vehicles getting 16% share of the global auto market (10% BEV).
Why are EV sales declining? ›
Firstly, and most importantly, EVs are expensive. An EV's average price in the U.S. for 2023 was around $60,000. Even as the variety of EV models available rises and prices fall, and the U.S. brings in tax credits, EVs remain much more expensive than their gasoline-powered counterparts.
What is the long term forecast for EV? ›
Global EV sales are forecast to grow 5x from 13.6 million units in 2023 to nearly 67 million units by 2035, representing a compound annual growth rate (CAGR) of 14.2%. Supportive policies by both governments and traditional automakers underpin the robust long-term growth outlook.
What will EV trends be in 2030? ›
Outlook for 2030
It is expected that EV sales will grow exponentially in the next decade, driven by cost reduction, technological improvement, and support from public policies. By 2030, it is expected that: Annual EV sales reach 30 million units. The global EV fleet reaches 125 million units.
How many EV charging stations are there in the US? ›
There are 64,187 EV charging stations across the U.S. in 2023, an increase of 20% over 2022 when there were 53,492 stations. Correspondingly, there were 175,575 charging outlets in 2023, an increase of roughly 22% over 2022 when outlets totaled 143,771.
Will all cars have to be electric by 2025? ›
As part of the Advanced Clean Cars II regulations, all new passenger cars, trucks, and SUVs sold in California will be zero-emission vehicles by 2035. In October 2023, staff launched a new effort to consider amendments to the Advanced Clean Cars II regulations.
Is EV a growing industry? ›
In the United States, EV sales reached a market share of 7.6 percent last year, and according to some estimates, that figure could climb to 67 percent over the next decade.
What is happening to the EV market? ›
Cantor and colleagues forecast late last year that the US would see somewhere between 1.6 million and 2.1 million new battery-electric and plug-in hybrid vehicle sales in 2024. Now, Cantor says, totals could come in closer to the lower end of that spectrum. Even so, US sales this year should jump by nearly a third.
Is EV demand growing? ›
EV sales will remain strong but with a slower growth rate
We forecast global EV sales growth to increase by 36% year-on-year in 2024, compared to an estimated 62% in 2023.
