Charge-point investment is key to electrification, says ING

At a media briefing for sustainable finance, ING shared that it invested in more green loans for Electra, as charging infrastructure is the key to wide spread electric vehicle (EV) adoption.

Speakers Tim van Pelt and Evelien Hooijman, directors of transition accelerator team and co-leads of EV charging for ING advocated for the utilisation of EV charging to drive the transition to electrification forward.

Typical private sales of EVs are an important factor in the EV transition found the briefing, buyer behaviour and the differing needs of consumers play a role in what charging infrastructure is needed and where.

Making charging accessible for those who will rely on public charging was also a key focus of the briefing. By using the current forms of charging, such as slower charging used for multiple occupancy buildings and office spaces, EV adoption could become more desirable to those resistant to the move toward electrification.

There was also a point made about the way EV adoption differs between private buyers and B2B consumers. It was highlighted that fleets have a distinct focus on overall cost of ownership and this will impact their move toward electrification.

Rico Luman, sector economist for transport and logistics, said: ” Governments are very supportive in the transition to EVs, which makes a big difference in the transition.

“In countries where their infrastructure is not very developed, like Italy and Poland, are still far behind in their transition because of the lack of this lack of support.”

Authorities should also be pushing for the transition to electrification by advocating for more accessible charging and by making the most of the different technologies already available, like ultra-rapid charging, the briefing heard.