Making sure that there’s always somewhere to juice up your ride is going to be big business. That’s according to financial services firm Morgan Stanley, which, according to Bloomberg, estimates that the world will need to spend a dizzying $2.7 trillion on charging infrastructure if it’s to support 500 million electric vehicles.
(That may sound like a lot of cars and trucks, but it’s worth noting that there are over a billion on our roads right now. So even if robo-taxis erode the number of cars in city centers and autonomous trucks cut the number of 18-wheelers we need to run, it’s not a crazy number.)
The rollout of charging points is often cited as a key incentive to convice a public with range anxiety to adopt electric vehicles. Without a place to charge in a city center or, more important, beside a long and lonely highway, nobody would take the plunge and buy an electric car. In turn, that would render impotent even the most ambitious of regulatory pushes to incentivize automakers to build electric vehicles.
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