News

EV Infrastructure

05 Jul 2021

Electric vehicle adoption is at an inflection point, according to Bank of America analysts who identified a new way to play the trend. An increasing need for EV charging technology is set to benefit a raft of global stocks, according to the bank, including semiconductor and Big Oil companies, as well as auto suppliers.

Bank of America analysts led by Harry Wyburd flagged a rapid rise in ownership of electric vehicles, with EVs on Europe’s roads up 100% since pre-Covid.

In a research note published last week, they wrote: “Our updated charger forecasts see c. [circa] $80bn of potential charging infrastructure investment by 2040E [estimate].”

The bank estimates there are currently around nine public charging points per 100 electric vehicles in Europe and expects the number to rise as more of the cars hit the road. BofA also expects “significant” growth in home charging points, with around 60 million electric connectors by 2030.

What opportunities are currently available in New Zealand and what private companies are taking advantage of the opportunities here?