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3 Key Technologies that Help Electric Vehicle Market Flourish

By Auto Tech Outlook | Thursday, June 04, 2020

Electrification of vehicles has been regarded as a practical advancement of automotive technology. With many global automotive customers shifting away from internal combustion engines (ICEs), electric vehicles must be seriously considered by technology developers and automotive manufacturers.

Fremont, CA: Technology developers and automotive manufacturers have to offer a variety of choices and reduce the cost of alternative powertrains to help address consumer preferences. Between the consumer demand and advancements in technology, the industry will require numerous electric and hybrid types over the coming decades before a leading system replaces ICEs in most new vehicles. So, electric vehicle technologies are becoming increasingly common these days. Other technologies should be developed first for attaining the future of full electrification. Advancing technologies offer consumers greater confidence in the safety and reliability of systems, simultaneously reducing cost and providing better flexibility for OEMs for including them in their vehicle designs. Here are a few key technologies that are needed for electric vehicle market growth.

Energy Storage: One of the core issues is getting the consumers to switch to EVs is equivalent to convincing them that vehicle range is sufficient and will not leave them stranded in a place where there is no means available to recharge. Storage systems have to be improved without growing in size or cost, or else it will be less reasonable for OEMs and consumers to embrace electric vehicles.

Top 10 Electric Vehicle Technology Solution Companies - 2019Electric Motors: Motor performance is an area of concern for the traditional vehicle drivers who are yet to shift from internal combustion engines. Although batteries might give sufficient range, showcasing a performance similar to gasoline and diesel-powered vehicles is an essential factor for consumers.

Power Electronics: Hybrid vehicles generally need switching between electronic and fuel-based systems to propel vehicles. The switching and conversion process depends on various components, including a charger, generator, and a converter. New electronic systems will be further able to improve hybrid performance and efficiency, leading to increased adoption rates. 

To conclude, manufacturers and technology developers have opportunities to leverage the innovation ecosystem to fast-track their technological development, which offers companies an advantage over global competitors.

See also: Top Automotive Tech Companies

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