Electric vehicles are slowly dominating the automotive industry, but one major concern about EVs is whether the buying price will be affordable soon.
Based on a report shared by Yahoo News, Steve Birkett, a senior EV editor at Find The Best Car Price, says electric vehicles will remain expensive for budget-minded buyers in the future.
That’s because battery production remains a challenge despite supply chain and consumer demand improvements.
The distant future of electric vehicles, however, looks brighter. Many automakers are exploring ways to make EV battery production easier and enhance performance.
This includes using brass for battery terminals to lower production costs and improve range. Keep reading to understand what the future of EVs looks like.
Opportunities Linked to EVs
Compared to conventional cars, electric vehicles create unlimited opportunities for the transport sector to maintain sustainability.
Since EVs don’t have an internal combustion engine and don’t rely on fuel, they reduce pollution. Ideally, the absence of an engine means few mechanical parts are rubbing against each other, thus reducing noise pollution.
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The fact EVs don’t burn fossil fuels makes them free of tailpipe emissions and ideal for decarbonizing the transport sector, which accounts for high carbon emissions.
Increased adoption of EVs in the future will promote the use of renewable energy. Using electricity generated from hydropower, solar energy, and wind to recharge EVs, for example, will make transportation greener.
Plus, the need for regular repairs is also minimal because EVs have fewer mechanical parts. In the long run, owning an electric car will help consumers save money and reduce their carbon footprint.
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Challenges Affecting the EV Future
Market uptake and consumer acceptance of any product depend highly on cost. Given that the buying price of EVs remains high, many consumers are reluctant to switch.
However, electric vehicle adoption looks promising as governments worldwide continue implementing policies and providing tax incentives for EV purchases.
Limited access to public charging stations is another key barrier to the widespread acceptance of EVs.
The good news is governments, and private investors can enhance the future of EVs by deploying fast chargers in public spaces like malls and hotels. However, EV makers must educate consumers about the difference between public and home charging infrastructure.
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Despite deploying EV public chargers in various countries, commuters have concerns about charging time.
They assume it takes hours to charge an EV battery using public chargers. Unlike many home EV charging stations, public chargers are fast.
For instance, by deploying level 2 and DC fast chargers in public spaces, vehicle owners can recharge their batteries to hundreds of miles within 30 minutes.
EVs Support Innovations
For customers to accept electric vehicles, automakers must be innovative. Examples of innovations driving the EV revolution in the next coming years include advanced battery technology, fast EV charging infrastructure, electrified roads, and battery swapping.
For example, integrating advanced battery technology in EVs will help improve range and battery life. Electrified roads, wireless charging, and ultra-fast charging infrastructure provide fast charging, thus reducing range anxiety.
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The future of electric vehicles is brighter than ever as more people embrace e-mobility. However, for electric vehicles to dominate the auto industry, the sector needs to understand the opportunities and challenges stalling EV adoption and implement effective solutions.
Providing tax incentives, deploying charging infrastructure, and integrating tech innovations in EV production can help encourage the widespread acceptance of electric vehicles.
