In April 2023, the US Environmental Protection Agency (EPA) and the Biden Administration set out ambitious new carbon reduction targets. As part of the proposal, the automotive industry will need to cut all vehicle emissions by 56% by 2032. Achieving this goal will require even greater emphasis on and adoption of electric vehicles (EVs).
To date, Reuters states that the US industry has invested more than US$1trn in automotive electrification technologies. However, analysis from trade association and lobby group Alliance for Automotive Innovation highlighted that EV charger infrastructure remains highly uneven nationwide. As of 2022, most charge points are located on the East and West Coast, with several ‘charging deserts’ in the Midwest.
In its report Building the electric vehicle charging infrastructure America needs, McKinsey & Co stated that approximately 50% of potential EV customers in the US continue to cite charging issues as a top concern prior to purchase. “It’s no stretch to say that the nation’s limited network of charging stations probably discourages many prospective buyers,” it said. Therefore, focusing on building a comprehensive network could be the key to solving the US industry’s regulatory and commercial challenges.
