First on the agenda was an outlook on EV penetration in North America and Europe. “I think in both markets we have a similar pattern of reaching an inflection point, or as our friends at ABB say, they think there is a point where there is no way back, practically.” Driving forces behind this include the oil price hike, climate change concerns and changing commuting patterns.
We also heard their expectations for the top trends within the EV industry over the next five years. While the car charging side of the business has reached peak performance, “we will see though, generally, that the truck business will ask for even higher performance.” However, the biggest trend, they posited, will be a shift towards more of a focus on the software side.
This software transition could include making EVs more user-friendly. “People want apps where they can see everything. They want to be able to potentially do trade transactions usually for storage, etc. This kind of functionality, that will be the focus.”
Looking at growth drivers, the former global head highlighted two areas: trucks and fleet. “Both need new hardware investments, on the truck side to get to the performance needed, and on the fleet side to get to the cost needed.” Whereas ABB is in “a great position” already to develop such services for trucks, they see a challenge on the fleet side arising from “aggressive” supply chains.
To access all the human insights from Third Bridge Forum’s ABB’s EV Charging Unit – IPO Prospects & Unit Economics Interview, click here to view the full transcript.
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