The global market for electrical cars is slowly but steadily expanding. According to reports, the global sales of electrical vehicles (EVs) are going to reach the 2 million mark. This represents a 66% increase compared to car sales in 2017.
As climate change awareness increases, more people are looking to switch to hybrids or electrical cars. In response to this increase in demand, car manufacturers are now trying to improve on existing technology and increasing production output. Some of the major issues EV technology faces include:
- EV range limitations
- Inefficient Battery Charging
- Limited EV manufacturers
- Developing feasible charging portals for EVs
Despite these issues however, electric cars are soon to overtake the demand for conventional automobiles as prices fall and sustainable recharging infrastructure is developed. As time passes it is quite possible that we will see the following changes in the EV industry:
Long Range Electric Vehicles
Range Anxiety is a term used to define a fear of running out of charge in an electric car. Many owners wonder if their cars can go long distances on the charge they currently possess. Since recharging stations are yet to become a more common phenomenon, many are calling for the creation of energy efficient cars.
To eliminate range anxiety and to increase the acceptability of EVs, many automobile manufacturers are working on long range electrical vehicles. The Tesla S100D is one particular example of an electric car that can travel up to 510 kilometers with an efficiency of 18.4 KWh.
Till the foreseeable future, it is likely that we will see a greater number of energy efficient cars. Until a time when EV charging infrastructure becomes fully developed, car manufacturers are likely to continue producing increasingly efficient automobiles.
Shift from AC charged to DC Charged Lithium Batteries
The conventional EV battery was to be charged on an alternating current, due to the adoption of the current generating technique across entire countries. However these are very slow to charge and pose a significant time cost in terms of charging a battery to full capacity.
To counter the problems of both range limitations and charging time, 2019 will welcome a greater number of lithium metal batteries that are charged on a direct current. The lithium battery industry is expected to grow to a valuation of $33 billion in 2019. These will be a significant improvement over conventional batteries in terms of charge capacity and charging time.
Asian OEMs will dominate the market
Current trends suggest that the industry will come to be dominated by Asian EV manufacturers. At the moment Tesla, Nissan, GM and Volkswagen are leading global EV markets however Chinese producers might just develop a stronger foothold.
Given the rising environmental concerns in the country, many old hands in the automobile industries have shifted production to environmentally friendly cars. The FAW group is working with Audi and Toyota to produce electrical cars, while BAIC reported that their EV sales hit the 1 million mark just this past year.
The progress in the EV industry is gradual but definitely progressing. As manufacturers develop increasingly efficient electrical automobiles and as the consolidated effort to make EV ownership more convenient start to bear fruit, EVs will prove to be the next revolution in the automobile industry.