Exploring the Future of Electric Vehicles: What is Left for Achievement?

We can see that electric vehicles, or EVs as they are commonly known nowadays, have evolved significantly over the last decade. With the advances in battery technology and reduction of prices of EVs, they are gradually becoming appealing to more people than gas cars. But what about the electric versions of cars and trucks, what can we expect in the future? There are some emerging changes that could define the market for EVs in the future of 5-10 years.

Better Battery Technology and actually decreasing costs

Some of the leading driving forces that have been widely associated with the promotion of EVs include the advancement in battery technology and increased battery range at a lower price tag. Lithium-ion batteries have a higher energy density and the cost per unit has significantly reduced in the last few years. This trend is expected to continue in the future – some are even forecasting that electric cars will cost the same as gasoline vehicles by 2025. 

There’s a new generation of batteries, such as solid-state lithium ion, that will charge even faster and offer more range than current offerings. These programs will further reduce costs of battery systems and the overall costs of EVs, and increase their sustainability.

Expanded Charging Infrastructure 

A lack of charging infrastructure has been an issue in the past for the increased EV sales, but governments and businesses are now putting large amounts of money into infrastructure projects. The EV charging infrastructure has grown significantly since then and there are now over 40,000 public chargers in the United States, Electrify America, one of the largest fast charging networks is expected to install thousands more stations across the country within the next few years. 

Additional range means less range anxiety and better batteries will increase this distance even more. Smart charging technology will enable electric vehicles to connect to smart power grids seamlessly and locate charging stations without strain.

Autonomous Driving Tech

Traditional electric vehicles are also expected to prevail over other types of self-driving cars, such as hybrid AVs. Largest AV players including Waymo & Cruise are planning their robotaxi fleets as electric based on renewable energy. As the self-driving software develops in the following five-ten years, electric AVs will be able to deliver cost-effective and environmentally friendly transportation services in cities. This could drastically decrease the number of individually-owned cars and promote Transportation as a Service business models utilizing autonomous electric vehicles.

Newer and Improved Design & Performance

Compared to general architectures or conventional architectures, the ones specific to electric vehicles enable automakers much more freedom in designing cars specifically tailored to the electric powertrain. Less weight and slender design increases the driving range; flat battery pack and sleek motors frees up cabin and storage space.

Whereas as investment increases in pure electric vehicles or EVs, engines will become more efficient offering stronger torque required for acceleration, and incorporate regen modes to harness kinetic energy during braking. EV-specific suspension, steering and brake parts, which are still emerging today, will only enhance the handling, control and safety process. 

Those who already have their minds set on purchasing a particular type of vehicle are likely to be more comfortable when more options are available for that type of vehicle.

Initially electric cars were available for only small commuter cars with a battery range of below 200 miles. However, choice is being extended at a fast pace across the vehicle types and specialization uses. Cars like trucks, SUVs, luxury cars and of course, even the supercars are now available as electric cars and they perform as efficiently as their gasoline counterparts.

This is also evidenced by the fact that prices for goods are gradually decreasing and it is now possible to see competitive prices in different categories. New choices for electric delivery vans, semi-trucks, pickups, ATVs and light vehicles will help electrify other markets.

Let us continue to explore new ideas and specialize in different markets.

The use of EVs is set to grow as new business ideas are developed that may create specific segments and increase the utilization of such technologies. Some of the ideas that may be considered include extremely small city cars, three-wheeled mini cars and enclosed cycle based small cars, electric powered scooters for the physically challenged, cars for rental car fleets with swappable batteries or power packs, portable batteries on wheels, cars or trailers with solar panels, and others. Consumer creativity will be the driving force to continue developing electric vehicles technology in more novel applications.

Partnerships With Renewable Energy

Thus, the shift to renewable sources of electricity is necessary to achieve the envisaged environmental impacts of electric transportation. That is why network providers and utilities are now concentrated on increasing the solar and wind generation to meet the demand of power by the increasing number of EVs. Intelligent charging technology as well as the integration of V2G will one day enable the EV to balance an electricity grid that is gradually filled with variable renewable energy sources. Promoting the use of renewable energy and electric mobility will go hand in hand, and to realize this, companies operating in the two sectors will have to work together.

Overcoming Challenges

However, if there is any doubt, allow me to state here that there is still a long way to go to see EVs fully take over personal transport around the world. With regards to battery production, there is a requirement for sourcing minerals more sustainably and ethically and to recycle battery components at the end-of-life stage.

Symbolic tariff antagonisms between regions and firms may hinder infrastructure development. Concerns about the capacity of the utility grid to meet the power requirements that would be needed to charge electric vehicles are raised. However, constant policy support, public and private funding mechanisms and consumers’ growing interest in EVs will create the driving force to overcome these challenges.

The Road Ahead

It is especially as the next decade has the potential to be an immensely exciting one for electric vehicles. Given the current trends where firms continue to pump a lot of money into developing these cars and with the ever growing market demand for EVs they are likely to overthrow the tradition gas cars and trucks than most people can imagine.

It will not take long before more cities begin to consider banning new fossil fuel vehicles or even old ones. For those who are willing to look at the future of transportation and invest in things that would be beneficial in the long run, going electric might indeed be the way to go. The developments that take place in the EV field within the next five to ten years will create the base for the total electrification of the transport sector all over the world.