How does electrification strengthen Europe’s energy security?
Aside from reducing the cost of running a vehicle, thanks to cheaper charging rates and the lower maintenance costs associated with the simpler electric powertrains, electric vehicles also increase resilience against future oil price shocks.
An increased focus on renewable energy means electric vehicles can be charged in a cleaner and greener fashion, while encouraging things like solar in the home allows the general public to break free from the grid and negate any hikes in energy prices.
There’s also the subject of Vehicle-to-Grid technology (V2G), which allows EV batteries to balance out spikes in the grid by delivering energy during peak times. When coupled with renewables, this becomes a powerful tool in reducing the reliance on fossil fuels and natural gas.
“To me, the direction is becoming clearer every day: this is no longer just about cars. It’s about building a system people can rely on,” Polestar’s CEO says.
Polestar’s CEO believes that short-term fiscal relief on the spiralling cost of fossil fuels only has a temporary impact – it has “no bearing on customer behaviour whatsoever”.
“It is time to focus on the things that matter by continuing to invest in infrastructure that strengthens Europe’s energy resilience and helps more people choose the future,” Lohscheller says.
“Done right, this will make Europe stronger, more competitive, and more resilient,” he concludes.