While the automobile sector struggled in 2020, the global shift toward net-zero emissions suggests that electric vehicles may now be ready to flourish. Although it is difficult to foresee exactly how many people will make the switch to electric vehicles in the next few years, there are a few significant figures that indicate that EVs and EV drivers have a bright future. We live in a dynamic economy that is always changing due to rising market developments, new technological advancements, governmental sustainability regulations, and shifting consumer preferences regarding vehicle ownership. Automobiles will undergo the same revolutionary changes as other industries that have experienced increased automation and digitalization. Even though the EV industry is still quite small in comparison to the whole automobile market, it is expanding annually. As it is unquestionably the direction we’re going, it is poised for an explosion in the very near future. There are many exciting advancements to look forward to in the next few years, if recent EV trends are any indicator.
Current EV indications point out to certain factors that will lead EVs grow, these are:
- Support for the EV Market
It seems that every automaker is making investments in electric vehicles of some kind. While several hybrid alternatives presently dominate the electric car sales, all-electric versions are quickly overtaking them as the hot topic in the sector. Each manufacturer is aware that, for the time being, their tried-and-true gasoline and diesel models continue to be the top competitors for boosting sales. But if what they’re predicting is to be believed, electric vehicle (EV) models will eventually take their place.
Not only this, the EV industry has also been supported by the government. through its various schemes and policies. There are also tax benefits offered which pushes customers to opt for environment friendly options. You can read about the national level policies on EV here.
- Expansion of Electric Vehicle Charging Infrastructure
Many potential drivers have range anxiety, which is one of the main reasons why some people might be hesitant to move from a gas-powered vehicle to an EV. For the majority of users, range anxiety—which according to Automotive world, is the worry that an EV will run out of power before getting there—is a huge worry. The expansion of this EV charging network is imminent. Range anxiety will be less likely to occur as a result of this installment’s update on the availability of EV charging stations on public roads.
- Better Batteries on the Way
Many people are concerned that an EV charging and that it would fail and leave them stranded. They want an electric substitute to be just as thrilling as their muscular gasoline-powered wheels and larger batteries, which result in larger, heavier vehicles, solving this problem. The newest SUVs and pickup trucks come equipped with all the frills seen in mid-range luxury vehicles, as well as a long battery range and excellent towing capacity. As and when the Electric Vehicle battery becomes bigger and better , the demand will grow.
- Customer loyalty towards EVs
More consumers are recognising that electric vehicles are the way of the future. While EV purchase consideration survey findings can vary greatly, they often show a high level of consumer interest. According to a survey, almost 60% of American consumers would think about buying an electric vehicle. A separate survey that included questions with more detailed and useful considerations revealed a more moderate but still large percentage of respondents who were considering buying EVs, precisely 23% of Americans. According to yet another survey, 48% of Americans would think about purchasing an EV. Regardless of the precise proportion, these studies tend to suggest that it is higher than double digits, indicating a general trend of rising interest in buying electric vehicles.
This electrification movement has seen a significant shift in the public’s perception of electric automobiles. In the past, many people might have said, “I will never buy an electric car,” and they might have believed that electric vehicles would not succeed. However, today, more and more cultural attitudes are centered around ideas like, “What if all cars were electric?,” “Why EVs are the future,” and catchphrases like, “the EV revolution.” It’s crucial to remember, though, that buyers are seriously contemplating purchasing electric automobiles. According to the data, sales of electric vehicles are growing more quickly, as shown by the following trend.
- Having the Best E-Mobility Software Solutions
Digital platforms are an integral part of providing energy to electric vehicles. This is where Numocity, comes in, it is the best EV charging software solution. They offer leading cloud-based B2B platforms that help you manage EV Chargers, Battery Swap Stations, Grid Interfaces and Battery Life and bridge the gap between an EV owner and an EV charge station host. Taking Smart Charging to the next level.
Upcoming EV Trends
- AI and IoT integration
- Non-Lithium-Ion Battery-Powered Vehicles
- Uprise in PLM technology
- Advance creative designs
- Smart charging and more
Read more about it HERE
“ Interest on EV is growing in the Indian Market which is evident from the sales figures of EV vehicles and the number of Charging Infrastructure providers.
Though it is a positive trend it might take some time to become the choice of the common man. It is important that the industry is focused and continues investment to make this happen because the future is EV!”
–Kumaraswamy, VP Operations, Numocity