EV roundup: Pricing, investing, future of charging, and more
Electric vehicles are transforming the auto industry from the ground up. Detroit's Big Three are rapidly changing their vehicle lineups. But it hasn't always been a smooth ride, as General Motors (GM), Ford (F), and Stellantis (STLA) are deadlocked with the United Auto Workers (UAW) over the future of manufacturing amid this transition. Yahoo Finance spoke to experts across the industry to give investors an inside look at the state of the EV industry as part of the weekly series "EVs: The Road Ahead."
EV prices dropped for many manufacturers, including Tesla (TSLA), in Q3. Cox Automotive Director of Industry Insights Stephanie Valdez-Streaty remains positive regarding EV pricing. Valdez-Streaty said, "Consumer sentiment is changing in terms of affordability, so I think that's really going to help."
Craig Irwin, ROTH Capital Partners Senior Research Analyst, and Ronald Jewsikow, Guggenheim Securities Vice President – Automotive Equity Research, broke down the investments in EVs and why demand remains low.
Irwin explained, "To build the EV charging infrastructure out there, we probably need another $10-20 billion on top of the $7.5 (billion) that's been set aside."
Jewsikow added some insight with regard to the EV truck market. He said, "What we've seen so far, at least with the early entrants into the EV pickup market, there's been a strong preference for the gasoline-powered options."
Blink Charging (BLNK) President and CEO Brendan Jones and Plug In America Executive Director Joel Levin discussed the most important challenges behind the EV charging infrastructure.
Jones believes that consumers need to break the trend of fueling at a station rather than using reliable home chargers. He explained, "We have to break the dominant paradigm of charging by saying, you don't have to go to a depot or fuel station."
Levin believes that there needs to be more effort put into the installation of EV charging stations at apartment complexes. He said, "It's not a simple problem. It's probably the single most challenging problem we have in the EV space."
According to a poll from Ipsos and Yahoo Finance, 57 percent of respondents answered that they are not likely to purchase an electric vehicle as their next car. Yahoo Finance Senior Autos Reporter Pras Subramanian believes that "education is key" to the adoption of EVs "if the country is going to see the Biden administration's 50 percent mandate of EVs by 2030."
Christine Tezak, ClearView Energy Partners, LLC Managing Director of Research, detailed the challenges of the grid and why it could hold back the EV infrastructure rollout. Tezak explained, "High intensity fast-paced chargers. Those are like little industrial facilities and accommodating them on the grid is going to be a little trickier."
Zero Emission Transportation Association (ZETA) Executive Director Albert Gore III broke down the EV tax credits and why they could be significant for wide EV adoption. Gore III said, "A lot of work still to be done, but the pace is really accelerating very quickly."
GreenPower Motor Company (GP) CEO & Chairman Fraser Atkinson detailed the growing trend of states adopting zero-emission mandates for school buses and the infrastructure required to meet those mandates. Atkinson said, "Coming in with electric vehicles where we need to install a lot of charging stations has a significant impact on the ability of school districts to electrify in certain locations."
Doron Merdinger, Doroni Aerospace CEO and Founder, discussed the future of EVs with its flying vehicles. The company completed its first manned test flight in July. Merdinger said, "The long term is just infinite. This machine can be used for endless use cases ... this is the first couple of units already preordered, and then scale up production from there."
Video highlights:
00:00:04 - Cox Automotive Director of Industry Insights Stephanie Valdez-Streaty
00:00:14 - ROTH Capital Partners Senior Research Analyst Craig Irwin
00:00:27 - Ronald Jewsikow, Guggenheim Securities Vice President – Automotive Equity Research
00:00:41 - Blink Charging President and CEO Brendan Jones
00:00:52 - Plug In America Executive Director Joel Levin
00:01:04 - Yahoo Finance Senior Autos Reporter Pras Subramanian
00:01:23 - Christine Tezak, ClearView Energy Partners, LLC Managing Director of Research,
00:01:34 - Zero Emission Transportation Association Executive Director Albert Gore III
00:01:49 - GreenPower Motor Company CEO & Chairman Fraser Atkinson
00:02:07 - Doroni Aerospace CEO and Founder Doron Merdinger
Watch all of Yahoo Finance's special coverage "EVs: The Road Ahead."
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