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In this blog series, we’ll unpack the latest smart mobility news in a little more detail. Each week, we’ll focus on fresh topics, covering emerging stories and research that has caught our attention.
Ready for a recap on all the latest and greatest in smart mobility this week? Today, we’re talking you through the current outlook for the electric vehicle market and how retailers can capitalize on EV charging infrastructure. We’ll also be taking a look at autonomous vehicle adoption in the US and how we can achieve safer roads for all. Let’s go…
The landmark Inflation Reduction Act will see up to $12 billion invested in clean vehicle credits – extending to the EV tax credits of up to $7,500 per vehicle. However, in order to qualify for the full tax credit, EVs are subject to strict requirements – including price caps on vehicles , income caps on customers, the final assembly must be in North America, and various stipulations on battery and materials origins. Despite these regulations, US electric vehicle sales (including plug-ins and hybrids) are projected to grow to $1.4 million in 2023, positioning the US market to achieve Biden’s goal of 50% of all vehicle sales to be EVs by 2030.
Raising retail revenue with EV charging infrastructure
To truly embrace the EV revolution, we first need to ensure proper charging infrastructure is available at a national level. By installing EV charging points, not only will retailers clearly demonstrate their commitment to sustainability to their customers, but they will also become a go-to destination for EV drivers looking to charge while they shop. If you’re a retail store owner looking to boost brand loyalty while offsetting your carbon footprint, join us on May 16th for our webinar discussion on how we can optimize EV charging for US retailers. We’ll talk through the basics, such as why EV charging infrastructure is important to consumers and how to leverage charging points to generate more revenue.
Did you know that road-related accidents are one of the leading causes of death in the US? An estimated 40,000 people suffer traffic fatalities each year. Cruise, General Motors’ autonomous vehicle (AV) unit, is determined to reduce this number by removing human error from the equation. The question is: are drivers ready to let technology take the wheel? Many Americans remain wary about riding in an autonomous vehicle, stating they wouldn’t feel safe in a car that drives itself. However, where humans cause 1.34 deaths for every 100 million miles driven in the US, Cruise has cleared over 100 miles without a driver or any accidents resulting in “life-threatening injuries or fatalities.”
Driving towards an autonomous future
In case you missed it, we joined mobility experts earlier this year for a three-part partnered podcast series with The New Statesman. The third and final episode saw us explore the future of autonomous vehicles (AV) – including the barriers standing in the way of AV adoption and how we can start tackling them. Richard Barlow, Wejo founder and CEO, explained the measures Wejo are taking to accelerate the adoption of AVs – including our unique Autonomous Vehicle Operating System (AV-OS) technology.
The National Highway Traffic Safety Administration released its preliminary report for the motor vehicle traffic fatalities in the US last year. According to the data, an estimated 42,795 people died in crashes in 2022 – compared to 42,939 the previous year. Though this demonstrates around a 0.3% decrease, the figure remains staggeringly high. It’s worth noting that these are preliminary estimates based on the data currently available and will be subject to change once new police crash reports and other information is gathered.
Leveraging funding from the IIJA to improve road safety
One of the biggest reasons behind the extremely high rate of motor-related fatalities in the US is the aging infrastructure and poorly maintained roads. The more a road deteriorates, the more it poses a hazard to drivers. For example, potholes, uneven road surfaces, sinkholes, and cracks are all issues that could interfere with the operation of a vehicle or cause a driver to swerve unexpectedly. Fortunately, Biden’s historic Infrastructure Investment and Jobs Act will inject over $110 billion into the repair of US roads and bridges. To help you find out what’s available and secure funding for your community, we’ve created an entire Infrastructure Bill Resource Hub.
For further insights into the goings-on in the mobility industry, check out our resource center, or speak to our team by filling out the form below.
As always, if you’ve come across a story that you think is worth sharing, or you want to give your input on what we’ve featured this week, send us a message.