The world is changing dramatically fast.
The world is changing dramatically fast. Things which seemed to be almost impossible 10 years ago are now becoming a reality. Innovation is not the future anymore, it is happening now. And innovations which help to create better quality of life for people around the globe are becoming more important and successful in the business environment. One of the good examples is the Electric Vehicles market. EV’s are starting to be more popular not only among environmentally conscious people, but also among normal consumers. However in order for EV’s to become a main stream product, a few important conditions have to be met.
First we have to start with educating people about advantages EV’s have over classic internal combustion engines. We have over 100 years of history, when cars were and still are propelled by internal combustion engines, therefore most of people know something about that, but the challenge is that most people don’t know anything about electric drive. Companies like Tesla, Nissan, BMW etc. are doing a great job in that matter. They understood that the most efficient way to start a technological revolution is to bring a great product to the market and capture an interest of people's minds. We will certainly see more and more great cars popping up in the next 5 years.
The second and well known issue is the price of the EV’s itself. Most EV’s nowadays are more expensive than their dirtier counterparts. This has several reasons, but the most important one is the battery price. We have more than 100 years of innovating and developing an incredibly complicated internal combustion engine. These engines have gone through various modification steps and making possible for car manufacturers to create a perfect and economically efficient way of producing them. Add to this economy of scale and you will get a perfect formula for affordable solution which we are currently being sold by all car manufacturers. With EV’s, we have just started to write a new chapter in history, therefore it will take some time to bring this technology to a level, where the cost of a battery pack will be more affordable and easier to produce. Seeing companies like Tesla and Panasonic which are making huge efforts in that direction by building battery megafactories to successfully apply an economy of scale and to be able to bring the mass production of EV’s to a new and competitive level, I do believe that transition from gasoline cars to electric drive will happen much faster then we all expect.
The last and very important piece of a puzzle is charging infrastructure. Without ability to charge EV’s there hardly will be a demand for this type of vehicle. The charging infrastructure situation nowadays looks more like a wild west then a normal market environment. There are different methods, standards, opinions about how charging should work and look like in the future, but almost none of that is standardized, and consumers are the ones who are paying price for this mess. Thankfully there are many companies out there who are trying to bring all information and standards together in order to make the life of EV drivers easier and more comfortable.
We are early adopters. We do have difficulties and struggles. But nothing surpasses without an effect. People who already drive EV’s today are helping those who will drive these cars in the near future. Companies which are manufacturing first versions of charging points for private and public use are battling through hard and inconsistent legislation processes, technological challenges not only to ensure their market success, but also to help and provide a reasonable solution for upcoming rise of EV market.
In the next blog post I would like to take a closer look on how different car manufacturers are addressing educational challenges and who is currently gaining most of the spotlight. I will also have a closer look on the charging infrastructure problem. Show examples and alternatives for private and business charging and look more into the future of charging station infrastructure development.
If you have any question you would like to see answered in the next blog post, let me know in the comments below or email me directly.