Sustainable and inclusive

growth: Briefing note #8,

August 11, 2022
A more inclusive approach to mobility will lead to faster decarbonization.
Our weekly digest of McKinsey insights explores that topic.

© Sombatkapan/Getty Images

August 2022
 The e-mobility revolution holds implications for
sustainability and inclusivity: decarbonization will
happen faster if everyone is on board. This week,
McKinsey surveyed the preferences of Black
automotive consumers, whose spending is expected
to reach $190 billion by 2030. McKinsey research
suggests that 40 percent of Black consumers
expect to purchase an electric vehicle (EV) in the
next ten years—but the industry’s relationship with
these buyers will depend on its equitable treatment
of them. Two other vehicle-focused pieces looked
at growth opportunities for chemical companies
supplying EV manufacturers and at changes in the
investment allocations of shared-micromobility
funders. Elsewhere: an interactive timeline
visualized shifts in spending, output, and job
creation in eight key sectors as we advance toward a
net-zero world.
A McKinsey survey discovered that Black
respondents were three times more likely than
other respondents to express interest in disruptive
mobility trends such as EVs. Black consumers
are, however, particularly concerned about the
availability of charging stations. Senior partner
Shelley Stewart III and coauthors advise EV players
to distribute charging infrastructure equitably,
ensuring there will be no “charging deserts” in
Black neighborhoods.
Web 2022
Micromobility investment
Exhibit 2 of 3
Exhibit
About 90 percent of micromobility investments now go to e-kickscooters.
About 90 percent of micromobility investments now go to e-kickscooters.
Share of publicly disclosed investments into electric micromobility companies by form factor, %1
E-kickscooter
2018–22 62
2018–19 39
2020–22
1
Figures may not sum to 100%, because of rounding.
Source: McKinsey Center for Future Mobility analysis
2 Sustainable and inclusive growth: Briefing note #8, August 11, 2022
EV manufacturers are searching for materials that
improve the efficiency of parts such as batteries,
motors, and wiring and are increasingly willing
to pay higher costs for superior performance. In
light of this, senior partner Chris Musso, senior
expert Dennis Schwedhelm, and coauthors advise
chemical companies to consider more participation
in the automotive industry and to assess whether
they might provide profitable solutions.
E-kickscooters have come to dominate the
shared-micromobility segment. Bikes were winning
prepandemic, but electrified stand-up scooters
now attract nearly 90 percent of investment, with
mopeds a distant third (exhibit). Kersten Heineke
and coauthors note that a growing share of funding
is directed toward parking and charging solutions,
which are vital elements for shared-micromobility
fleets.
Decarbonization will upend markets and force
reallocation of capital. Along the way, it will create
trillions of dollars in opportunity. Senior partners
Hamid Samandari and Humayun Tai offer an
interactive look at what the march toward net-zero
will mean for particularly exposed sectors such
as steel, cement, and forestry. Clicking through a
detailed timeline to 2050 reveals projected shifts
in emissions, capital spending, output, and jobs.
Total investment,
Bicycle Moped
$ billion
36 2 ~8.4
59 1 ~4.5
89 9 3 ~3.9

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Here are this week’s other notable findings from
our research:
— McKinsey’s 2022 summer reading guide has
arrived. We asked leaders from around the world
for book recommendations. Their suggestions
included works from the realms of history,
memoir, fiction, and poetry.
— Senior partners Thomas Kilroy and Emily
Reasor and coauthors offered four strategies
for retail marketplaces to ensure effective
pricing: vet the sellers, encourage competition
among them, scrape lots of data, and enable
customer loyalty programs.
— Building new businesses has become a key
trait of resilient companies. Senior partners
Ari Libarikian and Kurt Strovink and coauthor
suggested five ways for CEOs to support the
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Sustainable and inclusive growth: Briefing note #8, August 11, 2022
business-building process. Among them:
resolve issues quickly and have the courage to
absorb criticism.
— McKinsey’s Violet Chung spoke with Arthur
Wang, CFO of WeBank. As China’s first digital
bank, WeBank has been at the forefront of
using AI to cut costs while servicing a huge
customer base.
Our latest edition of Author Talks features Andrew
Leon Hanna, an Egyptian American lawyer and
human rights advocate, speaking about his new
book, 25 Million Sparks: The Untold Story of
Refugee Entrepreneurs (Cambridge University
Press, May 2022). In an interview with McKinsey
Global Publishing’s Joyce Yoo, Hanna suggested it
would be financially “foolish” to ignore the plight of
refugees, who are among the most entrepreneurial
people in the world.
3