The global adoption of EVs (electric cars) is gathering momentum quickly. Electric car sales are increasing exponentially, which is attributable to changing customer preferences, national laws and policies, and environmental concerns.
This will result in more electric vehicles being used on roads, as well as in the seas and the air.
Nearly 20 million passenger electric vehicles are now on the road, with electrification spreading to other forms of road transportation, according to a BloombergNEF report. Over 1.3 million commercial electric vehicles, including buses, delivery vans, and trucks, are in operation worldwide. There are also more than 280 million electric mopeds, scooters, motorcycles, and three-wheelers.
Industry researchers predict that ICE (internal combustion engine) vehicle sales will be surpassed by electric car sales by 2040.
But first, let's take a closer look at what electric vehicles actually are.
Simply explained, electric cars are those that run on battery power rather than an internal combustion engine (ICE). EVs are electric vehicles with the ability to go long distances on a single charge but are powered by batteries that need to be recharged.
Electric cars are becoming more and more common as a result of the many advantages they offer, including cost savings and contributions to sustainability.
The main drivers of the increase in electric cars
- saving money over time
It goes without saying that EVs are a more affordable option given the rising cost of oil. Resources will soon run out, and oil prices will only rise more.
EVs, on the other hand, consume little to no gasoline and can charge their batteries at home for a small fraction of the price. With fewer parts than fuel-based engines thanks to the electric motors utilized in EVs, maintenance and repairs are also reduced.
- Governmental laws and directives
Governments all across the world are supporting and regulating the purchase and manufacturing of electric vehicles through policy-driven initiatives. Government organizations are concentrating on lowering carbon emissions for a greener future even if their goal is to phase out ICE automobiles.
Governments are pressuring more automakers to create EVs by closely regulating their production and sales through high taxes and sales laws.
- Environmental choice
As the globe continues to tackle global warming and climate change, EVs help minimize hazardous air pollution. Electric vehicles (EVs) provide a green choice with less discharge of toxic pollutants that will enhance air quality. The use of electricity to charge batteries rather than fossil fuels like gasoline or diesel also contributes to resource conservation.
- Changing customer tastes
Consumer attitudes are changing now to ones that are more environmentally sensitive and place an emphasis on sustainable activities. EVs are becoming more and more accessible due to evolving transportation trends.
Additionally, EVs offer a more relaxing ride with better acceleration and deceleration and completely do away with gear changing and challenging controls. Public charging facilities and strategic locations make buying EVs more convenient for customers.
- Expenses and financial advantages
Due to the numerous environmental advantages of EVs, numerous governments and automakers are encouraging them by creating beneficial incentive programs. EV purchases are eligible for some taxes, as well as other financial incentives including tax breaks and discounts on the vehicles themselves.
- Progress in technology
With touch screen displays and interactive user interfaces, EVs today provide a nicer driving experience. Automakers are pushing the boundaries of technology by providing technologies like self-parking, voice control, and in-car entertainment (IVI).
In order for automobiles to connect with service facilities for servicing, maintenance, and repairs, auto manufacturers are also focusing on improving driver-vehicle contact.
Annata: Aiding automakers in promoting the use of electric cars
Although electric vehicles are a big positive and have numerous advantages, they also present a dangerous threat to automakers that are reluctant to adapt.
Without digital channels, the EV experience will surely be subpar. Automotive firms may eventually find it useful to leverage business solutions with web and mobile capabilities to capture data generated by electric vehicles, which will then be gathered, processed, and monitored.
Businesses' efforts to push towards car electrification cannot be supported by current legacy technologies in a scalable and economical way. Having a partner with substantial knowledge and experience can help you get around high-risk problems.
Annata provides a comprehensive cloud-based suite of solutions to support both EV businesses and automotive businesses that are looking to launch EV brands into their portfolio and unlock new EV business models and revenue streams. These solutions range from improving operational efficiencies to real-time fleet management.