This is a part of the EV Innovation Intelligence series
A once-in-a lifetime-pandemic can also become a once-in-a-lifetime period when many things – even some of them fundamental – change.
COVID-19 is still on, and it will perhaps be only by end of 2021 when we can breathe easy – literally. But there is little doubt that many things will not be the same again even after the world has seen the last of the virus.
And what could be the changes that COVID-19 has already brought (or will bring) to the EV sector?
Higher emphasis on sustainability & climate change
World over, a much higher focus on sustainability in all facets of industry and personal lives could possibly be the biggest change COVID might bring about.
Until COVID struck, sustainability was just a fashionable world for many business stakeholders. Climate change and global warming were taken relatively more seriously, but even for these there was far more talk than action. COVID has quite likely resulted in a significant shift in perception and industry stakeholders – and also many consumer segments – today have perhaps gotten a taste of what a global large environmental catastrophe could be. This could make their actions towards sustainability and climate change far more robust. Electric vehicles stand to gain a lot from such a change in perception as it contributes positively both to climate change mitigation and air pollution reduction.
China angle
If the hardened stance many western countries had taken against China during the pandemic holds for a while, one can see significant changes happening in the EV ecosystem – especially in the upstream OEM and component manufacturing components of the value chain.
Near-sourcing & local sourcing
With many nations keen on using the COVID crisis as an opportunity to retune many of their industrial value chains, with perhaps solid government support and aid, expect far more near shoring and local sourcing of EV components and solutions to happen.
Local employment
Such near shoring or local sourcing will also result in significant local employment, something many national stakeholders will be happy about.
This is a part of the EV Innovation Intelligence series
Posts in the series
Tesla’s Valuation | EV’s in different countries | Purpose built EVs | Mainstream Fuel Cells | IT in Emobility | EVs versus ICEs | Advent of China in Emobility | Charging vs Swapping | Micromobility & EVs | Electric Aviation | Li-ion alternatives | Million Mile Battery | Battery Startups versus Giants | Sales & Financing Models | Ultrafast Charging a Norm | Heavy Electric Vehicles | Material Sciences in Emobility | Lithium Scarcity | Solar Power in EV Ecosystem | EV Manufacturing Paradigm | Innovations in Motors | EV Startups – a speciality | Oil Companies’ Strategies | EV Adoption Paths | Covid-19 affect on the EV Industry |
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