Is now the right time for an EV?
Transport needs to de-carbonise to help curb the impact of climate change. A recent State of Climate Action report identified transport as an area ripe for exponential change, by 5x the percentage of electric vehicles we purchase.
So, is now the right time for your EV?
Whilst price is a key consideration, convenience is just as important. Where can I charge? Will the charger be working? How many different accounts, logins, passwords, and account cards am I going to need? Seriously, why can’t I just use contactless/chip and pin, right?!
But you don’t have to buy an EV to be part of the electric revolution.
Investing in EVs, component parts, and the charging infrastructure is nothing new.
Long-term investment has driven down EV purchase costs, and we can also invest in convenience solutions. If we can charge an EV in the time it takes to buy a cup of coffee, then we can expect exponential growth in purchase rates.
A new lithium-ion battery, reported in the journal Nature, can charge a car in just 10 minutes.
The process was developed in a US university start up (same place that inspired Ben & Jerrys!) but a factory is now being built to start mass-producing the batteries. The aim is to reduce charging time from an hour to around 5 minutes, that’s more than that 5x acceleration required in the sale of electric cars. These speedy batteries should also be smaller and need less of the precious minerals the planet is struggling to provide.
The firm’s founder said “Our technology will let automakers make more electric vehicles with the same quantity of materials. We hope that [sic] our method will result in large numbers of truly affordable economy electric vehicles on the road.”
When it comes to your sustainable investment preferences, our portfolios do not invest in early-stage start-ups. This is because they are high risk, and we need to manage your financial needs appropriately so you can lead your richer lifestyle. However, they do invest in larger, more established companies that will benefit from this sort of new technology to reduce costs and improve demand for their goods and services.
Sustainable transport is a compelling investment theme and solutions that get us to our destination quicker are worthy of a portfolio parking spot.
If leading a Richer Lifestyle whilst supporting the transition to net zero sounds good to you, contact me here: https://www.somersetwm.co.uk/call/
*Please note that capital is at risk and these investments are designed for the long term.
Breakthrough tech can charge a battery in just 10 minutes (anthropocenemagazine.org)
Source: Chao-Yang Wang et al. Fast charging of energy-dense lithium-ion batteries. Nature, 2022.
State of Climate Action 2022 | NewClimate Institute
Photo by CHUTTERSNAP on Unsplash
