![]() ![]() So far, investors have been largely supportive of these moves. Last October saw green bond issuance break through $1 trillion mark allowing automakers to tap debt markets at a lower cost to power their EV transition. Many automakers have done this through tapping the sustainable finance market. For incumbents, these investments are often existential decisions. It will take a huge amount of investment from automakers to make this transition. The hope is that this becomes a virtuous circle, where consumers increasingly step-up demand which is satisfied by a broader range of EV models at different price points. Last month, the leading auto lobby group called for broad slate of government support to help overcome hurdles to consumer EV adoption. ![]() In a country where luxury taxes can add up to $20,000 to the cost of a new vehicle, they’re a powerful incentive.īack in the U.S., the incoming Biden administration has pledged $400 billion in public investment in clean energy, including battery technologies and EVs. Looking at Norway, the government offers a wide range of EV incentives and exemptions. So far, regulation has been the key driver of EV adoption. What factors drive this change? As the CEO of EVgo, Cathy Zoi, highlighted at our recent Dealbook session, industry transformation is ideally driven by a trifecta of consumer demand, regulation and visionary leadership. In December, Norway became the first country in the world where EV sales outstripped all others, with EVs accounting for two-thirds of new auto sales in the last few months. ![]() In the U.S., EVs are starting to grow in popularity as highlighted in a recent analysis by our Auto Research Analysts about global Electric Vehicle (EVs) adoption, but it’s notable that the EV revolution is happening faster in other countries. ![]() Regulation as the catalyst for investment ![]()
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