⚡ Mo Money, Mo Jobs: Policy Landscape Creates Electric Vehicle Jobs 💼

Happy Tuesday. This is Electric Avenue. The only e-Mobility newsletter that gets more people to buy electric cars than Tesla’s fart mode 💨.

Here’s what we have for you today:

• Idle fee vs Blocking fee - results from last week’s poll 🗳️

• On Electric Avenue ⚡

• Mo Money Mo Jobs: Policy landscape creates electric vehicle jobs 💼

• 3 Links 🔗

• Meme of the week 🤡

Let's get into it!

Idle fee vs Blocking fee 🗳️

Last week we asked y’all to vote on the better term. Here are the results:

“Blocking fee” was the term favored by almost 80%. We also received some write-ins with people’s votes:

@Electrify America, if you’re reading this - the people have spoken 😉 

On Electric Avenue ⚡

Hey y’all, Janek and Julius here. We wanted to talk to everyone on a more personal note today.

Because, exactly one year ago today Electric Avenue Vol. 1 went out.

You know what that means? 

Its a birthday!

Wow, that‘s 12 months, 52 weeks and 46 published posts. Time flies when you’re having fun, huh?

Of course, Electric Avenue is and will remain completely free. But, if you want to support us, here are two quick & easy ways to do so this week:

#1: If you have two minutes to spare, we’d be incredibly grateful if you’d consider taking this quick reader survey.

It will help us learn a little more about you and understand how we can serve you even better over the coming year.

As a thank you, we’ll also be giving away two $50 Amazon gift cards. Make sure to enter your email at the end of the form if you’d like to participate in the giveaway. The deadline to complete the survey is Monday, August 28th.

#2: If you like Electric Avenue and you know another electric vehicle nerd - whether expert or enthusiast, professional or hobbyist - it’d mean the world to us if you shared this with them 🤙🏼

- The Electric Avenue team (Janek Metzner & Julius Wilhelm)

Mo Money, Mo Jobs: Policy Landscape Creates Electric Vehicle Jobs 💼

“Electric vehicles will cut jobs.“

This a phrase that most of you will have heard in discussions with family and friends, or read in media outlets. Certainly, the transformation to electric mobility is creating new and different jobs. And a big influence on when and where jobs are created is based on a country’s policy landscape.

The current electric vehicle policy landscape in the U.S. consists of two federal legislations:

• The Bipartisan Infrastructure Law (BIL) → Over $100 billion in spending supporting EVs and clean energy policy

• And the Inflation Reduction Act (IRA) → $369 billion in spending on climate and energy policy

A recent report from the Environment Defense Fund, a US-based non-profit organization, does a great job in illustrating the impacts that EV-friendly policy can have on job creation.

To save you some time we summarized the key positive effects identified the report for y’all:

• Investment in US-based production: Manufacturers have announced investments of $165 billion in U.S. electric vehicle and battery manufacturing facilities. 56% of these announced EV investments have occurred in the last 12 months since the passage of the IRA and 80% have occurred in the last 21 months since the passage of the Bipartisan Infrastructure Law.

• Jobs: The current federal policies require onshoring of the supply chain for electric vehicle and battery manufacturing. This resulted in more than 179k announced jobs across those sectors:

  

  New EV job announcements accelerated by national policy in the U.S.

• Geographical Disparity of the Investments: 88% of the announced investments are in just 10 of the 50 U.S. states. The state of Georgia alone received over $31 billion in investment to support 36k jobs.

• ❌ A shortcoming of the report: The methodology analyzed investments and job creations in EV assembly plants, Battery manufacturing plants and Battery component plants - but it did not include related sectors like the charging station industry which clearly benefitted too. Just look at the charger manufacturers which have announced U.S. manufacturing plans in the last 12 months: ABB, Tritium, Signet, Kempower, Wallbox and many more…

Not surprisingly, the EU and its member states have launched similar initiatives. Within the European Green Deal, the EU has an ambitious strategy to achieve climate neutrality by 2050 and transform the EU into a modern, resource-efficient, and competitive economy. We will have an eye on those competing policies and how they will shape the EV industry. Certainly, it will not only be a race between the 🇺🇸 and 🇪🇺….

3 Links 🔗

• Two more for NACS🔌: Automakers Honda North America (including its brand Acura) and Fisker Inc. have officially announced that they will adopt Tesla’s NACS connector in future vehicles. (Honda, Fisker)

• 5 years late⏱️: Los Angeles-based electric car startup Faraday Future managed to deliver the first unit of its FF91 electric SUV to a customer in California. The launch edition of the vehicle will cost $309,000 USD and was originally planned for 2018. We are curious to see how the FF91 will do in customer hands and hope to get the first independent reviews soon.

• Autocharge for Rivian⚡: US charging network EVgo announced that Rivian owners can now use its “Autocharge+” feature to pay simply by plugging in their vehicle into an EVgo fast charger. Autocharge relies on a vehicle’s unencrypted MAC address for identification and account association. Meanwhile, the commonly known Plug&Charge feature uses encrypted certificates according to the ISO15118 standard. Both approaches are being rolled out more broadly and we’re keeping an eye on who’s implementing what. For a deep dive comparison check out this whitepaper by roaming platform Hubject and V2G Clarity (now: Switch EV): Link to whitepaper.

Meme of the Week 🤡

That's a wrap for this week!

Let us know how you feel (We read every single one of these reviews 🙂):

Reader Review of the Week

Selected ⚡️⚡️⚡️⚡️⚡️ Freakin´ awesome on ⚡ Return of the idle fees, Ford update on NACS adoption 🔌 and wrote:

“Blocking fee - a charger block is the worst!”

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DISCLAIMER: None of this is financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. The Electric Avenue team may hold investments in or may otherwise be affiliated with the companies discussed.