Industry News 4th March 2022

As one of the world’s oldest legacy automakers accelerates its emobility plans, research shows that the global charging infrastructure market is scaling new heights and will be worth an estimated $23 billion by 2028. We take a look at some of the stories that caught our attention this week.

Ford separates EV business as it accelerates electric mobility plans

Ford has confirmed that it is undertaking a significant restructuring of its business by splitting petrol and diesel operations from its EV production creating a new distinct unit, Ford Model e and a distinct legacy business unit, Ford Blue as it seeks to win against both new EV competitors and established automakers

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Electric car sales double in February in ROI

Despite new car registrations falling by 12.2% during February, the sales of electric vehicles have jumped by 101% when compared to the same month in 2021 and by almost 400% when compared to 2019 figures. Electric Vehicles, Hybrid and Plug-in Hybrids have continued to increase their market share with a combined share of 44%.

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Mobility hubs shown to encourage active travel

A new study by Imperial College London in partnership with Enterprise and Brompton Bike Hire has shown that employees with access to a mobility hub at work are more likely to use active and shared travel options for commuting and business travel. The study was conducted over a four month period and allowed researchers to assess the impact on staff travel patterns by giving people more choices for sustainable and active transport.

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Global EV Charging Infrastructure Marketing to reach $23 billion USD by 2028

Valued at $8.8 billion in 2021, the EV charging infrastructure market is projected to reach US$23.39 billion in 2028 as the EV business continued to expand across the globe, particularly in the US and China. As sales of EVs reach new heights, major global charging infrastructure companies have been developing and implementing smart charging solutions to create a supporting, hassle free and safer ecosystem for drivers.

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Scottish Government to invest a further £60 million in Electric buses

The Scottish Government has announced plans to replace almost 300 diesel buses with new electric models with funding make available through the government’s Zero Emission Bus Challenge Fund (ScotZEB). The funding will help firms replace 276 existing vehicles with new battery powered electric models and will also help with the costs of the necessary charging infrastructure.

Find out more >>> Glasgow Times

Car finance for EVs surged 160% in 2021 according to new research

Research from Volkswagen Financial Services UK (VWFS) shows that annual finance cases for battery electric vehicles increased by 160% between 2020 and 2021 and by over 400% since the onset of the COVID-19 pandemic. VWFS reported that more finance cases were activated for the VW ID.3 than any other car in 2021.

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