The future of the automotive and manufacturing industry is set to be electric. However, keep in mind that the electrification of the industry does not solely involve automobile manufacturers and their supply chains – there’s an increasing involvement of public entities as well.
As indicated by a recent analysis by Clark Hill PLC, the electrification of the transport sector includes governments and officials at every level. Whether you consider large public toll roads, local municipalities, or airports, all these entities hold substantial transport and transport-supporting assets that can – and likely will – be brought into the age of electric mobility.
This presents both challenges and opportunities for our legal industry colleagues. On the one hand, the involvement of multiple layers of public entities adds an extra dimension of complexity in terms of regulations, ownership, and management concerns. However, this growing trend also offers myriad areas for transactional work.
While many view the electric vehicle push as a significant driver of environmental sustainability, it is crucial to remember that it is also giving rise to a whole new sub-industry. As legal professionals, we must be prepared to guide our clients, whether public or private entities, in navigating this terrain effectively and efficiently.
Therefore, staying in the loop with these dynamic and evolving sectors will be essential in the coming years. A legal practitioner who understands the relationship between the automotive industry’s shift to electric devices and the involvement of all these public entities will undoubtedly be of significant value to clients.
Just consider the example of P3s (public-private partnerships) for e-mobility. They represent a substantial opportunity for legal practitioners working in transactional law. P3s have a robust history in traditional infrastructure projects, and as the report suggests, there is an ever-growing interest in using P3s to achieve e-mobility goals.
To conclude, as the shift towards electric transportation progresses, lawyers and legal teams in corporations and law firms alike will have to stay abreast of the evolving landscape. In the age of electric mobility, the legal profession’s role is to ensure the seamless transition of all stakeholders involved and to overcome any potential obstacles along the way.