Mumbai, Nov. 28 -- Cumulative electric vehicle (EV) sales are set to increase to 34 million in 2025, 121.2 million in 2030, and 636.7 million by 2040, driving the cumulative power demand from 11,612.6 TWh in 2018 to 19,756.8 TWh in 2040.
"Utilities will play a bigger role in the transportation electrification revolution with offerings such as EV-specific dynamic pricing, integration with decentralized storage units, vehicle-to-anything (V2X), and workplace charging incentives," said Frost & Sullivan's Energy & Environment Analyst. "Collaborative efforts between various stakeholders in the automotive and energy value chain are critical for utilities to offer competitive bundled services and products."
Frost & Sullivan's recent analysis, "I...