BNP Paribas warns EV growth hindered by charging and insurance gaps

BNP Paribas cautioned that a lack of charging infrastructure and rising insurance costs could slow the global adoption of electric vehicles. Speaking at the bank's annual EV and mobility conference in Hong Kong, James Kan, head of industrials research in Asia-Pacific, noted that infrastructure readiness varies by country, with China and Europe leading while the US and emerging markets lag due to aging grids. He predicted that battery EVs and internal combustion engine vehicles will coexist longer than expected. Saved petrol costs may be offset by higher insurance and maintenance expenses in some emerging markets. The forecast may temper investor enthusiasm for Chinese EV makers, whose stocks surged recently on export growth.