EV Growth Prospects

EV Growth Prospects

Manufacturers around the world have been working hard towards new and environmentally friendly fossil fuel alternatives for decades. In general, environmental degradation is not a hidden consequence of global irritation. And now the need to switch from fossil fuels to a cleaner alternative is now more urgent. The world is now together and has promised to create a carbon-neutral world with zero carbon dioxide emissions. Electric cars will play an important role in achieving this goal. Countries such as the United Kingdom, France, Norway and Germany have also introduced legislation that will ban the sale of non-electric vehicles in early 2025. This makes the electric car industry one of the most exciting, important, and vital parts of today’s innovation.

The current opportunity to change the way we walk is largely due to changes in three key areas: regulation, consumer behavior, and technology.

Battery Technology is Key

Battery performance is the key to the electric car experience, driving range and charging time from car life. According to Stanford University, artificial intelligence charges as much as possible at a gas station. Stanford has developed a machine learning program that reduces battery testing time by 98%.

Mostly, researchers, industry experts, and car manufacturers agree that battery prices will magically fall below $ 150 per kilowatt-hour in the next decade. Here, according to experts, electric cars enter a huge market.

Previously, new battery technologies were tested for months or even years to determine how long they would last. The new SUVs and powertrains offer longer battery life, higher traction, and all the extra features of an average luxury car. For example, the entire Ford Electric F-150 Lighting has an EPA rating of 300 miles. The Chevy Silverado Electric needs 400 miles.

Cost Parity

The increase in the use of electric vehicles is mainly due to the purchase of cost parity with the internal combustion engine. A cheap and long electric car that can operate solely on an electric car and pass 200 miles on a charge, has been coming into the showroom. The connection of hybrids that can be powered by both electricity and gasoline has also been improved.

Although this equation is a global perspective, it will be strongly driven by the European and Chinese markets, which are expected to account for 72% of all passenger car sales by 2030. Expected by 2030, in China and Europe , 50% of all cars will be the way to be electric cars. It is link with other factors in the electric vehicle process, supporting policies, adopting the European format of CO2 regulation and Chinese credit systems for electric vehicles, fuel economy rules and urban policies restricting the sale of fuel vehicles.

Pace of Charging Station

The lack of a charging station for the so-called “range anxiety” remains an obstacle to the widespread use of electric vehicles. But other tools and equipment are changing to increase the number of charging stations in workplaces, apartment buildings, campuses, transport stations and other public places.

Reports from the National Renewable Energy Laboratory say that during the first three months of 2020, the supply of public electric vehicles (EVSE) increased by 7.6%. At the same time, the direct-current fast charger, which can be charged quickly, increased by 10.6 percent. California is the national leader in this expansion and is increasing its charging infrastructure by 9 percent.

But that is not enough to meet the expected needs of electric vehicles. According to a new article in Forbes magazine, the lack of charging infrastructure could limit the introduction of electric vehicles, blocking the future of electric vehicles.

There are three different types of charging stations: Level 1, Level 2 and DC Fast Chargers (DCFC).

  • Level 1 chargers are the slowest. They use a 120V AC outlet (in the U.S.) to add around 2-5 miles of range per hour of charging.
  • Level 2 chargers use a 240V AC outlet and add about 10-60 miles of range per hour of charging.
  • DCFCs are 480V DC and can add around 180-240 miles of range for each hour of charging. 

Currently, 80% of electric car drivers in the United States charge their car at home, usually with a Level 1 or 2 charger. But as demand for electric vehicles grows, especially for those who do not live in individual homes, the network will be expanded to public charging stations.


Governments and cities have introduced rules and incentives to accelerate the transition to sustainable mobility. Regulators around the world are pushing for emissions targets. The European Union (EU) has introduced its ”Fit for 55” program, which aims to reduce net greenhouse gas emissions by at least 55 percent by 2030 to change climate, energy, land use, logistics and tax policy, Biden administration introduces the 50 ٪ for electric vehicles (EV) 2030. In addition to this mandate, most governments also provide subsidies for electric vehicles.

The city is working to reduce the use of private vehicles and provide additional support for alternative modes of transport such as bicycles. Paris has announced that it is investing more than $ 300 million to upgrade its bicycle network and turn 50 km of car lanes into bicycle lanes. There are also rules for car access in many urban areas. In fact, the rules of use for emergencies with low emissions and pollution have been established in more than 150 European cities.

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