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TAP TIMES -25-
EVs and charging industry are
ready for takeoff — TrendForce
TAIPEI, Taiwan — According to Trend-
Force research, sales of electric ve-
hicles (EVs) that can be externally
charged or refueled such as BEVs,
PHEVs, and FCVs are estimated to ex-
ceed 25% of global new vehicle sales
by 2025.
Worldwide decarbonization
The main driving force in the market
comes from accelerated worldwide decar-
bonization.
To meet the goals of carbon neutrality, na-
tions and corporations will eliminate in-
ternal combustion vehicles that are highly
dependent on fossil fuels and also major
carbon emitters.
Many industries have ascended along with
EVs and charging facilities are one of the
largest non-vehicle business opportunities.
The extensiveness of charging facilities is
key to the sustainable growth of EVs in
any given country.
Budgetary allocations
According to TrendForce’s observations,
national budgetary allocations will acceler-
ate towards supporting the construction of
charging facilities and establishing systems
and standards.
In addition, the ratio of chargers per EV
has also been separated from evaluation
benchmarks based solely on quantity of
chargers constructed.
Instead, proper planning is to be carried
out according to different locations and
specifications which means there are many
developmental aspects of charging facili-
ties worth noting, not just quantity con-
structed.
SEPTEMBER 2022
The Honda Prologue, an all-electric SUV, is slated for introduction
in 2024. It is a joint development effort with GM.
According to TrendForce, the development
of charging technology is closely linked to
vehicles and facilities including high-volt-
age fast charging, vehicle-to-grid (V2G),
and Plug & Charge, all of which require ve-
hicle and facility collaboration.
Global net zero
In addition, the imminence of global net
zero not only accelerates the production
and sales of EVs, it has also focused atten-
tion on power sources for supplying EVs.
Therefore, the use of renewable power
generation in charging stations has also be-
come an important trend.
Taiwan plans to ban the sale of internal com-
bustion vehicles in 2040 and the “pledge
to zero-emissions vehicles” signed at the
COP26 United Nations Climate Change Con-
ference also aims to achieve zero emissions
for new cars and vans worldwide by 2040
and zero emissions in leading markets be-
fore 2035.
Surge in EV development
This period will see a surge in the develop-
ment of the EV and charging industries.
trendforce.com
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