KPMG - Charging ahead addressing the EV cost hurdle

This report focuses on the challenges and opportunities related to the adoption of electric vehicles (EVs) in Europe. It highlights the importance of national governments in promoting the uptake of EVs and the development of charging infrastructure through regulations and financing. The report suggests that national governments have the biggest impact on the rapid uptake of EVs and further penetration of EV charging infrastructure. The report also emphasizes the need to address cost hurdles related to the initial purchase price and operating costs of EVs. It suggests that efforts should be targeted on use cases with clear operating cost advantages over internal combustion engine (ICE) vehicles, such as smart home energy and charging solutions, dynamic electricity contracts, and cheaper publicly available charging stations. The report also recommends pan-European standardization across the EV value chain to simplify the usage of EVs and cross-border transportation. The report highlights the challenges related to battery raw material prices, electricity prices, and geopolitical issues that impact the supply and availability of critical battery raw materials and disrupt the electricity supply to Europe. The report concludes that comprehensive EV offerings that meet or exceed consumer expectations remain a distant reality, and there is a need for collaboration among EV value chain players, including consumers, automotive OEMs, battery manufacturers, Charge Point Operators (CPOs), service providers, and governments to address the challenges and opportunities related to the adoption of EVs in Europe.