It is clear that, despite the numerous challenges facing automotive OEMs today, the goals of next-generation electric, autonomous and connected vehicles remain as primary objectives. As we continue to look forward, widespread electrification is fast approaching the mainstream automotive market. Nand I sat down to discuss the rapid growth of EVs in today’s automotive market, what is pushing them forward and how companies are planning for the future.
Rapid technological and product improvements have been a primary driving force in the recent EV explosion. EV battery capacity and performance are rapidly improving. As a result, electric vehicles today are finally beginning to offer that elusive mix of environmental friendliness, convenience, comfort and cool design, making them an ever-more attractive option for consumers. A growing charging infrastructure, regional regulations that incentivize or require EV adoption, and increased investment from major automotive brands (as indicated by the Mustang Mach E and Hummer) have also contributed to the heightened profile of EVs across the industry.
However, there are still challenges. According to Nand, some of the largest remaining hurdles involve adapting manufacturing technologies, processes and safety procedures to better fit the unique needs of an EV. Also, the industry at large is still determining the best means of battery recycling and other end-of-life considerations.
Despite these challenges, the future looks bright for EV development and adoption. EV manufacturers are already hard at work on solutions to the challenges they still face. Meanwhile, they also continue to improve the performance, reliability and convenience of their EV platforms. And customers are taking notice: In July of this year, Deloitte forecast that a third of all new cars sold in 2030 will be electric. The future is electric indeed.
You can listen to our conversation below. Subscribe to the Future Car to hear more from Nand and I in the coming weeks, as well as Ed Bernardon’s fascinating interviews with experts from around the industry.