Acknowledging the headwinds facing the electric vehicle (EV) charging ecosystem in Europe, we’re cautiously optimistic around the opportunity for the landscape to evolve into a mature, seamless offering for consumers, and this view is supported by four key themes:
- Incentivizing quality of charging infrastructure: It’s critical for the consumer to enjoy a seamless experience, so providing incentives and recommendation systems that can guide consumers towards quality will be a key determinant for winners in the market.
- Predictable and affordable pricing: Consumers want certainty over their charging costs, with contracts that more closely resemble a mobile phone subscription than a transactional petrol station refuel.
- Smart energy: Mobility service providers are looking to negotiate with electricity grids to enable EV owners to earn money from their battery asset via smart charging.
- Payments experience: The payments experience for consumers remains complex and cumbersome via multiple apps and payment methods. Simplifying this interaction will be a key consideration for market participants to grow the overall ecosystem.1
Electric-vehicle ecosystem
Electric-vehicle ecosystem
Original equipment manufacturers (OEM) leads into EV Drivers: Individuals and Fleets
EV drivers leads into Roaming Hub, which works with e-Mobility Service Providers (eMSP) and Charge Point Operators (CPO)
Roaming Hub leads into CPO locations:
- Residential/Parking
- Retail and Hospitality
- Fuel Retailers
- Workplaces/Fleet Depot
CPO locations leads into Electricity Distributor
Emphasizing quality infrastructure
While the quantity of EV chargers is often cited as a key issue, the quality of the charging infrastructure is equally critical for the consumer to enjoy a seamless experience—providing incentives and recommendation systems that can guide consumers towards quality will be a key determinant for winners in the market.
In addition to a high-quality charging experience, consumers want certainty over their charging costs, with contracts more closely resembling a mobile phone subscription than a transactional petrol station refuel.1
Advancements in charging technology
The deployment of ultra-fast charging stations is a game-changer, significantly cutting down charging times and addressing range anxiety issues, making EVs more practical for longer journeys. To facilitate a smooth, cross-border EV experience, there is a growing emphasis on standardizing charging systems and protocols. This approach is essential for creating a cohesive and user-friendly network across Europe.1
Seamless charging solutions
The EV charging market focus has shifted towards delivering a seamless charging experience. Innovations required include simplified payment processes, real-time charger availability updates and user-friendly interfaces, all aimed at reducing friction for EV users.
“Each part of the energy ecosystem contains more complexity than meets the eye, and EV charging is no exception. At J.P. Morgan Payments, our role is to enable our clients to navigate this complexity and provide future-ready solutions to help ensure a connected customer experience.”
Tristan Attenborough
Global Head of Energy, Power, Renewables, Metals & Mining Payments and Global Head of Advisory
Sustainable EV charging
For many consumers, an EV represents a commitment to sustainability that extends to their entire energy ecosystem. This includes generating energy from renewable sources, managing power with home EV chargers and battery storage, and accessing digital information about charging status, pricing and demand flexibility events from power providers.1
Smart charging and the grid
As the energy transition continues to evolve, grid operators will come under pressure to support growing electrification across transport, industries and households. Dynamic charging through smart technology gives eMSPs and their customers the opportunity to both support the grid and provide economic benefits to the end users.
Curious about how our mobility payment solutions could enhance your payment services? Let’s explore the opportunities together.
References
Source: J.P. Morgan, "Mapping the road ahead for electric vehicle charging providers"
