While many states, including California, which is seen as a role model in terms of designing policies to enable the transition to electric vehicles, have put emphasis on the “sticks” in the carrot-and-stick approach to facilitating the change, Colorado wants to get rid of the stick and emphasize the carrot in order to achieve 100% electrification of its transport industry by 2050. Last week, the state launched a plan geared to promote the rapid uptake of electric forms of mobility without instituting a ban on internal combustion engine (ICE) automobiles.
Leaders say that the reason for taking this stance is that the politics and geography in Colorado is different from other places where ambitious plans to ban ICE vehicle sales have been announced. For example, in a first for the entire country, Colorado plans on making e-bikes a key pillar of its electrification push. Other states are focusing their planning efforts on trucks as well as cars, but Colorado has opted to pay state-level attention to electric bikes. The reason behind this decision is twofold: reduce emissions and also address gridlock during rush hour and other peak travel times.
To this end, the state wants to give low-income earners in the state at least 10,000 electric bikes to ease their mobility. This year, the state legislature approved $12 million for transport electrification, which could partly fund this plan; the plan stipulates that the targeted 10,000 bikes have to be on the road by 2025.
Will Coloradans embrace the e-bikes? Chances are that they will, given how popular an earlier pandemic-era scheme in Denver was. Replicating that initiative throughout the state is therefore likely to get widespread support from residents. Governor Jared Polis’ plan also includes conducting pilot projects involving electric cargo bikes to ease the delivery of packages and small amounts of goods to residents.
Colorado doesn’t want to ban ICE vehicles because they are vital in the rural and mountainous regions where the cold would make EVs inefficient due to compromised battery function.
Notwithstanding, the state plans on boosting the charging infrastructure by installing 1,700 DC fast chargers as well as 5,800 level 2 EV chargers in three years. The state government expects to finance the installation of at least 1,000 chargers each year, with the rest being covered by private entities and funding from the federal government.
The state has a track record of hitting the targets it sets. For example, back in 2018, a goal to have at least 23,500 electric vehicles on Colorado roads by June 2022 saw a total of at least 26,700 of these vehicles by the target date. This current plan is therefore good news because companies such as Lordstown Motors Corp. (NASDAQ: RIDE) are likely to find a home in Colorado as the electrification plan is implemented.
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