EV Power Pulse Issue #11

Reader Question

In our last issue, we asked you to share which role below best represents your job title. Here are the results:

• Board Member: 4%

• C-Suite: 31%

• VPs: 12%

• Director: 27%

• Manager: 8%

• Associate: 8%

• Other: 10%

Rob and I are in the early stages of planning an in-person event focused on the business and policy of EV charging. To make this event as accessible and impactful as possible, we want to host the event in a city where many of you are based. Please let us know the city you're currently living in.

Current EVents

EV Industry Updates

GM, EVgo, and Pilot building a coast-to-coast EV charging network

General Motors has partnered with EVgo and Pilot Travel Centers to develop a "coast-to-coast" EV charging network. This initiative, known as "Pilot Flying J" and "Ultium Charge 360," showcases the prominent logos of Pilot and GM, the main financial backers of the project.

The trio recently announced the upcoming launch of the first 17 stations, with the goal of establishing a minimum of 25 stations featuring around 100 charging stalls by the end of the year. While the initial rollout includes a limited number of charging ports, GM, EVgo, and Pilot Flying J are ambitiously planning to install more than 2,000 charging stations over the next few years. 

An additional 200 stations are expected to be operational by the end of 2024. These strategically located stations will be integrated into approximately 500 Pilot Flying J truck stops and managed by EVgo.

The charging stations within this coast-to-coast charging network are designed to enhance the EV driving experience, providing familiar amenities found at high-quality gas stations. These include weather-protected canopies, pull-through charging stalls suitable for EVs with trailers, access to food and restrooms, and 24/7 safety surveillance.

This partnership marks a timely and substantial enhancement to the US’s EV infrastructure, aligning with the rising sales of EVs, despite ongoing concerns about cost and range anxiety. I’m eager to see how this partnership progresses toward its ambitious goal of establishing 2,000 charging stations across the US.

–Steve

Power and Policy

Biden Administration Updates EV Tax Credit Rules

The Biden Administration has recently introduced revised regulations for EV tax credits, aimed at reducing Chinese dominance in the EV supply chain. These new rules impose more stringent requirements for vehicles to be eligible for tax credits, reflecting a strategic shift in policy to foster a more self-reliant and diversified EV industry.

According to the newly established guidelines, a vehicle risks losing eligibility for the tax credit if it is linked to suppliers with connections to China. This disqualification criterion encompasses scenarios where vehicle components are manufactured in China or if Chinese entities control as little as 25 percent of the supplier's board seats.

The updated regulations also stipulate that American suppliers using licensed Chinese technology could be ineligible for the tax credit. Set to be implemented in January, these rules present significant hurdles for automakers, particularly those intending to utilize Chinese battery technology. This includes companies like Ford, which has already encountered a turbulent journey in its transition to the EV market.

Amid apprehensions about a possible decrease in the range of EV models eligible for tax credits, the Administration emphasizes that automakers are actively restructuring their supply chains to align with the new regulations. This tax credit, a pivotal component of President Biden's climate strategy, is instrumental in enhancing the affordability of electric vehicles, thereby making them more accessible to consumers by effectively lowering their market prices.

The response to the new regulations has been mixed. While some praise the initiative for diminishing dependence on China, others contend that these rules might unintentionally favor Chinese firms. Key industry players, such as the Alliance for Automotive Innovation and General Motors, perceive these regulations as achieving a practical equilibrium. They recognize the likely effects on the roster of qualifying vehicles but underscore the importance of these measures in supporting the overarching goal of establishing a robust domestic supply chain.

As the EV sector progresses, these policy shifts introduce an additional layer of complexity for automakers. This development highlights the ongoing challenge of striking a balance between fostering domestic manufacturing capabilities and navigating the complexities of the global supply chain.

–Rob

Emerging EV Charging Tech

Tesla Cybertruck Includes Bidirectional Charging

The highly anticipated debut of the Cybertruck has become the focal point of current EV discussions. Amidst the excitement, a standout feature has captured our attention — the Cybertruck’s "Powershare" capability. This innovative bidirectional charging feature empowers Cybertruck owners to transform their electric trucks into mobile generators.

Bidirectional charging revolutionizes the interaction between electric vehicles (EVs) and the power grid, treating high-capacity lithium-ion batteries as dual-purpose tools. These batteries not only power EVs but also serve as dynamic storage units, capable of powering external devices or feeding energy back to the grid, unlocking potential cost savings.

Tesla provides users with control over bidirectional charging through its mobile app, offering meticulous monitoring of the charging process, personalization of settings, and provides immediate access to detailed energy consumption data.

The Cybertruck distinguishes itself with a notable feature: a 240-volt outlet in its rear bed, enabling it to charge other EVs. This innovation not only sets it apart from rivals like the Ford F-150 Lightning and GMC Sierra Denali EV but also adds a practical edge, offering a solution for EV drivers needing a boost in emergencies.

Tesla's adoption of bidirectional charging marks its alignment with current industry trends, joining the ranks of Ford, GM, Hyundai, and Kia, who have already integrated this technology into their EVs. This step represents a strategic shift for Tesla, subtly recalibrating its approach to maintain its dominant position in the EV market.

Despite Tesla accounting for 50% of EV sales in Q3 2023, this marks their lowest market share to date, a 12% drop from Q1. However, Tesla's sales still outperformed the overall industry in Q3. With the anticipated launch of the Cybertruck and strategic pricing adjustments on other models, Tesla aims to recapture lost market share. Nevertheless, the evolving market landscape signals increased competition, heralding a new phase of challenges for the industry leader.

–Steve and Rob

How to further connect with us

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Until next time, stay charged!
- Steve and Rob