Trends in EV mobility in 2023￼
Many developments took place in the field of electric vehicles during 2022. In 2023, things are looking even brighter for the sector. The technological advancements in the sector are moving forward quickly although the manufacturers were put under severe strain due to supply chain disruptions. 2023 is all set to become one of the better years for the electric vehicles market. Here are some of the significant trends anticipated for 2023 in the EV sector.
1. Improved EV batteries
The technology used in batteries has come a long way in the last decade or so. There is a bigger demand for technology with an 85% reduction in cost. Top companies are preparing batteries for the 3rd generation vehicles that will hit the track in 2023.
Engineers are developing batteries that will do what no other battery has done before. They will be looking to put 600 KW of power in and out of the battery and deliver a massive quantity of energy in the process. The newer car models coming up during the next year are all set to come with a 350-to-500-mile range on a single charge. This is sufficient to get you through from London to Glasgow.
2. Better charging infrastructure
People making a switch to electric vehicles have been worrying about the lack of proper charging infrastructure. But there is every chance that we will get a bigger push for this throughout the world with various schemes appearing constantly.
Some governments across the world have pledged to invest millions of dollars into developing EV charging infrastructure to raise EV adoption in their countries. It means there will be a greater number of charging forecourts, a greater number of subsidies for developing charging stations, and more companies offering charging facilities.
3. A shift to EV transmission system
The transmission system used in electric cars is expanding as a result of fluctuating fuel prices. Car owners that used to own diesel, petrol, or gas-powered cars will now opt for clean mobility solutions. With many original equipment manufacturers entering the fray, various automakers are bringing in some cost-efficient alternatives for electric vehicle models. Apart from that, they are taking advantage of developing technology for the creation of stronger and smoother acceleration with minimal maintenance needs compared to fuel-powered cars.
4. Battery management systems with IoT
IoT and AI will play a crucial role in the EV sector shortly. The E-mobility sector is adopting IoT in a big way for battery management systems such as control and monitoring. This will let the electric vehicle owners have a remote data logging facility that will help in monitoring crucial battery activities.
A greater EV adoption also means more need for a better battery management system that will ensure security, reliability, and safety. It is expected that the new technology will embed IoT, AI, and cloud in the enhancement of battery management systems.
5. A better and safer mobility infrastructure
Various governments are making continuous amendments to the EV battery standards for making them safer for car owners. This means stringent safety standards for battery management systems, battery cells, and thermal propagation that will lead to fire and short circuits.
Various transport ministries around the world are taking an active part in the creation of safe and clean mobility solutions. We are expecting to witness many government policies being implemented that will result in a significant raise in the sales of electric vehicles.
6. Better EV financing
The EV ambitions of various countries are beginning to gain stronger momentum. However, there are no EV financing alternatives available in semi-urban and rural areas. Due to the emergence of disruptive fintech and EV start-ups in 2023, it is expected that we will witness a massive shift in digital lending solutions for EV users. The electric vehicles market is expected to welcome a brand new trend in terms of green financing that can aid the semi-urban and rural population in adopting this green technology with some simple lending solutions.
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7. Emergence of smart grid technologies
The rising energy prices have made several people nervous about the capability of the government sector in fields such as National Grid to cope with the extra burden of charging electric vehicles. But there are some additional steps taken for making these grids green and more efficient. Many schemes are being offered to leverage the tariff for encouraging the charging when there is less demand on the grid. So, fewer amounts of energy needs to be created to keep up with the requirement.
In some areas, Vehicle -to-Home chargers also known as bi-directional chargers are being offered, for allowing users to keep aside EV batteries at home for power at peak times. This will again take the pressure off the national grid. After this, the power is re-routed back to the EV during nights when the use of power is at its lowest. It means you make the most of the available power.
Expanding the market share of EVs
The U.S. has so far lagged behind the European sector in terms of the development of electric cars. But the recent trends indicate that electric car sales are on the rise in the U.S. and have improved quickly in recent years. There are several reasons for this such as higher prices of gasoline, and the availability of newer and more compelling products such as pick-up trucks and vans.
This has led to greater momentum for EV adoption in the U.S. There is an impressive market share in existence for EVs on the East and West coast areas. This trend is moving inland now. In several areas, EVs are a better alternative not just for ecological reasons but for performance and economic reasons. EV charging infrastructure is expanding pretty rapidly in America with the challenge of keeping up with this rise in demand.
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Electrification of heavy vehicles is going ahead
Although almost 10% of the cars sold globally were electric in 2021, this number for HGVs is close to 0.3% in the same period. Electric HGVs have been employed successfully in China only. They are supported by government funding here.
Many other countries have announced their plans for HGV electrification and makers are expanding their portfolios suitably. By 2030 we will see many electric HGVs on the road. We will get to a point where the electric alternative to the conventional diesel HGVs will reach a tipping point.