An overview on the EV Landscape

Electric Vehicles (EVs) are amongst the fastest growing tech sectors in the world today. Notwithstanding its backing by governments, automakers, and consumers globally, this e-mobility evolution requires a platform to support its long term growth sustainably.

Governments and automakers worldwide are accelerating plans to develop their EV charging infrastructure and production. China has had a head start with over 800,000 publicly available EV charging outlets installed as at end-2020. Other countries are also hopping on this bandwagon.

Propelled by the government and automaker-led EV initiatives, the global consumer spend on EVs increased to USD 120B in 2020. This is a notable milestone from just over USD 75B the year before. Despite this rising popularity, barriers remain before broad-based EV adoption can occur. This includes [1] EV driving range, [2] price premium and [3] the relative dearth of EV charging infrastructure - commonly cited key concerns by consumers in many markets.

While it’s still early days for the EV evolution, its significant transformational potential is especially notable. Vertex’s investments within the EV ecosystem includes SES, Innoviz Technologies and Virta. They are initial investments and more importantly an expression of our confidence in this space.

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Look out for the second report from our 5-part e-mobility series: What’s charging an EV?

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