Electric Vehicles

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Electric Vehicles: Start your (electric) engines

What are the implications of the increase of EVs on the energy and resources industry?

Electric vehicles (EVs) are coming soon to a street near you. Driven by positive policies promoting environmental improvement and technological developments that have seen car costs come down, EVs are projected to account for 55% of new car sales by 2040.[1]

Impact of EVs across the industry

The impact of EVs and this shift in vehicle types will have far-reaching impact across the whole range of sectors within the energy and resources industry, and for decades to come.

For example, the increased demand for metals and minerals will lead to more composite materials with improved conductivity, the increased use of electricity will need investment in innovative solutions such as smart grids that can support vehicle-to-grid concepts and cloud battery storage.

The shift to EVs will be a game-changer, creating opportunities for some businesses and threats for others. To capture the upsurge, companies will need to invest, innovate and transition to new business lines and models.

What will be the impact of the increase in Electric Vehicles (EVs) on the energy and resources industry?

[1] Bloomberg New Energy Finance

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