The EV Revolution
Electric vehicles are being hailed as the future of the global auto industry. But there are potential roadblocks to their widespread adoption. Our experts explore the path ahead.
October 29, 2022
Global sales of electric vehicles have gone into overdrive in recent years — reaching a record 6.6 million EVs in 2021 from just 120,000 in 2012, according to the International Energy Agency1. But a number of factors need to fall into place for EVs to become the car of choice for consumers and businesses in the U.S. and abroad.
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The EV Revolution
In this episode of the Perspectives podcast, host Candace Browning, head of BofA Global Research, discusses the challenges and promise of the EV revolution with Haim Israel, head of Global Thematic Investing Research with BofA Global Research, and Chris Hyzy, Chief Investment Officer for Merrill and Bank of America Private Bank.
They explore the infrastructure buildout needed to support hundreds of millions of electric vehicles on American roads alone, along with advances in battery technology needed to achieve shorter charging times and longer ranges. They also consider how policy initiatives such as the Inflation Reduction Act of 2022 could be a boon to additional capital investment. Finally, they offer insights into the longer-term investment opportunities emerging in related areas such as precious metals, renewable energy and electric machinery.
For insights into another game changing technology, read the article How green hydrogen could fuel our future. Also read EVs on the charge, an analysis by Bank of America Institute.
1. International Energy Agency, Global EV Outlook 2022, May 2022