In April, global energy, technology, and utility provider Hitachi Energy announced a $1.5 billion investment program to ramp up global transformer production by 2027. IDTechEx’s research into electrical grids indicates that transformers are a critical component and potential supply bottleneck for large-scale grid upgrades. These upgrades are essential as society shifts from a transportation sector fuelled by petrochemicals transported in tankers to a sector powered by electricity carried by wires. In its market report, “Off-Grid Charging For Electric Vehicles 2024-2034: Technologies, Benchmarking, Players and Forecasts,” IDTechEx explores the challenges utility grids face amid vehicle electrification.