The transportation sector is in the early stages of a profound transformation driven by accelerating Zero Emission Vehicle (ZEV) penetration. The mix of vehicle sales is changing fast in key large markets, with strong policy impetus. Fueling the transportation fleet of the 2030s and 2040s will require a different supply mix that includes more electrons but also more low-carbon liquid or gaseous fuel. What are the capital structures, policies and infrastructure needs of tomorrow’s transport sector? Is the “polilticization of EVs” going to be a challenge in the United States and other markets?