What does the Energy Crisis mean for the E Mobility sector in Europe and the UK?

E-mobility or Electric-mobility provides a sustainable route to fight against climate change. Global carbon dioxide has touched its peak in 2021. The sole contribution of Europe is 22% of total carbon dioxide. That's why it is the set goal of Europe for decarbonised European roads by 2050, alongside preventing the globe from its harmful effects.?

In light of this, #emobility has been highlighted as a powerful factor in cutting down carbon dioxide emissions. Furthermore, 2022 has been a momentous year in the growth of e-mobility in Europe and the UK.?

Regardless of the growing popularity of #electriccars among the public, the current energy crisis is shifting the e-mobility sector's trajectory. The aftermath of covid, climate change, and the war in Ukraine has yielded an unprecedented energy crisis in the UK and Europe that has affected almost all areas of life; the e-mobility sector is no exception.?

Energy Crisis in Europe?

As reported by CNN, Europe is reliant on for nearly 30% of its oil and 46% of coal imports. Owing to the war conflict, Russia has choked off the cheap natural gas supply to Europe, on which the continent has been dependent for years to generate electricity, run factories, and heat up homes.?

This has urged a desperate scramble among the European to look for new supplies and ways, costing around 500 billion euros to save the citizens from harsh winter. This, in return, has shifted the government's focus from investing in the industry, which is certainly not a good sign to achieving the milestone agenda.?

While at the same time, vehicle emission regulations across Europe and the UK are forcing manufacturers to expedite the volume and sales of e-mobility vehicles. This indicates the necessity of handing over more and more resources to energy & utility companies.?

Energy Crisis in the UK

The UK energy market has also reached record highs in the recent week, experiencing similar consequences as Europe. Soaring gas prices in the UK have made the energy system exposed to long-standing vulnerabilities after battering from covid-19. The present energy crisis in the UK is referred to as more extensive than the covid pandemic.?

The June 2022 figures released by the Office of National Statistics (ONS) spotlight the struggle of all economic sectors, particularly the e-mobility industry, because of inflation and rising prices. This crisis is set to get worse with time.

The Consequences of the Energy Crisis on the E-Mobility sector

With the expansion of global , facilitating a smooth and fast transition into electric vehicles is one of the government's top agendas. The more the implementation of the e-mobility solution, the more will be the reduction in carbon dioxide, including other gases. But at the same time, the challenges brought up by the present crisis are worsening the situation for the e-mobility industry.?

Inflation Making Charging Difficult

Mobility, on the one hand, is road vehicles' primary purpose, while on the other hand, the efficiency of the energy system is also a relevant factor. However, a system is a general phenomenon for electric vehicles, which without , is not possible. In other words, electricity charging is fuel for electric vehicles. That's why the uptake of electric vehicles ultimately requires increased effectiveness of the electricity systems to smartly manage the charging demands.??

The crisis has caused energy prices, including , to soar. This, in return, has surged the charging cost to charge the electric vehicle. The Russia-Ukraine war is considered the grass-root for this rise in energy and electricity prices.?

Cost to Charge & Fuel a Vehicle?

The electricity cost to charge the electric vehicle through the public network is 18p per mile. Comparatively, charging the vehicle at home is cheaper but domestic bills are also rising. However, at home, the charging cost for an average-sized vehicle is somewhere around 9p per?mile. When we put it in comparison to fuelling cost, which is 19p per litre, the charging cost is still cheaper.

Elimination of Fuel-Based Vehicles

The present energy crisis has triggered one of the worst economic downturns in the UK and Europe. In the ongoing Ukraine-Russia war 2022, Europe and countries like the UK realize how much they are energy dependent on Russia. This is resulting in power and fossil fuels phasing out, and therefore, the energy industry is confronting rapid transformation.?

With inflation already at its all-time high peak, further hurting citizens' wallets with hype caused by the energy crisis in the form of towering fuel prices. As a result, this is encouraging people to increase the use of fuel-independent sources, including vehicles. Furthermore, the traditional automotive industry is dying at a faster speed and will become extinct before 2050, as per the prediction.?

Trade Blockage Collapsing Supply Chain

The unprovoked invasion of Russia into Ukraine has influenced the energy system with its far-reaching impacts, subsequently fracturing the long-standing trading partnership and disrupting demand and supply patterns. It has eventually rocketed the energy prices for many business owners and consumers, hurting , , and the entire .?

The supply chain blockages have ended up with the shortage of critical raw materials, such as palladium, nickel, neon, etc., for the production of , electric vehicle , and catalytic converters, thus putting a halt to the motive of a #sustainable future by restricting the e-mobility production.?

The Solution to the Problem

The current energy crisis in Europe and the UK has put immense pressure on government bodies to be self-sustainable in their energy needs. Within this frame of reference, the better breakthrough is to integrate the framework dependent on energy with sources. Despite the fact that the share of in Europe has lifted from 20% to 38% of total production from 2010 to 2020 still, there are miles to cover.?

Although the government is trying to protect the citizens against sky-scraping energy prices through energy bill rebates, tax cuts, and direct payments nurtured due to its crisis, they still need to find an answer to soaring energy prices to keep pace with the ever-expanding upswing of the e-mobility industry.

Summary?

The upheaval across the #energy market has both positive and negative influences on the e-mobility industry. Where the lack of charging infrastructure was already a distressing problem, the ground-breaking energy crisis of all time has added fuel to the fire.?

In order to prevent the negative consequences from outweighing the positive, there is a dire need to accomplish necessary and prompt measures in this regard; otherwise, the situation might go out of the box.?