Sam Tiltman
Sharing Economy and Mobility Industry Practice Leader, UK
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United Kingdom
Charging infrastructure for electric vehicles (EVs) has been on the radar for many nations as demand grows for a sustainable future. Marsh McLennan’s report, Time to recharge: Accelerating the rollout of EV charging infrastructure, explores the challenges on progressing the rollout ambitions and suggests recommendations for key stakeholder, supported with global examples.
The origins of EVs dates back to 1830, and by the turn of the century they accounted for one-third of vehicles in the United States. Initially, EVs were favored over gasoline-powered vehicles which were noisy to drive and needed cranking by hand to start, however over long-distances the disadvantages of EVs became apparent. Lengthy charging times, inadequate charging infrastructure, and ‘range anxiety’, are all concerns that the contemporary EV industry is familiar with.
The demand for EVs is undeniably on the rise as 2024 sees the introduction of the Zero Emission Vehicle (ZEV) mandate. Additionally, there are only 12 years left until the Government’s 2035 deadline for all sales of passenger cars to be battery electric vehicles (BEVs) or hydrogen fuel cell electric vehicles (FCEVs).
Although various countries have made some progress, there is still a long way to go to satisfy the projected demand for EV charging infrastructure for 2030 and beyond. Establishing a reliable network is crucial to meet national EV targets - a key part of achieving national net-zero goals.
As focus on the risk dynamics intensifies in an uncertain commercial environment, the insurance market must understand business models and true risks through engagement with EV-charging stakeholders.
Sharing Economy and Mobility Industry Practice Leader, UK
United Kingdom
Renewable Energy Director, Marsh