What are the Factors Contributing to the Rise of EV Aftermarket?

Auto Tech Outlook | Tuesday, April 28, 2020

The electric vehicle market is still at a relatively early stage of development, yet it guarantees to reshape industries and communities around the globe.

Fremont, CA: Automotive enthusiasts know that the fossil fuel vehicles are going to be replaced by electric vehicles. However, there is a lot of disagreement about the timeline of this proliferation. Internal combustion enthusiasts believe that the transition will take decades to take place while the EV and renewable energy field predict that the market will be flooded by 2030. In reality, the market has already witnessed the EVs, and people are buying them as they are money-saving, energy-saving, and environment-friendly. If EVs rise in the market, the aftermarket for the EVs will rise as well. Three factors will contribute to the rise of EV aftermarket, which is repair, convert, and upgrade.   

Repair

A typical conversion from gas to electric costs $5,000 to $10,000. The rise of EVs is paving the way for the EV aftermarket as hobbyists, and do-it-yourself enthusiasts are converting gas cars into electric. The exciting fact about EVs is that the number of hobbyists and do-it-yourself enthusiasts is increasing day-by-day, and they are creating new designs and concepts while continually improving the technology. In an electric conversion, a gas vehicle is converted into a car that runs on electricity, which is done by installing an electric motor and batteries. Moreover, functions such as air conditioning, power steering, and other electrical systems need to be altered slightly to function correctly with the new electric motor. The rise in the demand of EVs, individuals, converting their gas vehicles into electric vehicles, and the need for spare parts for the conversion has given birth to the EV aftermarket. 

Convert

Repairing a gas vehicle is significantly easier as compared to a gas car. An electric motor contains approximately six moving parts, while a gas engine has hundreds of working parts. In an electric vehicle, very few parts can wear out, and when they do, it is easy to repair and replace them. The EV aftermarket for repairs will be cost-friendly and efficient. EVs are repaired in a similar way as internal combustion cars with battery, electrical/charging components, cooling systems, tire lubrication, as well as brake repair/maintenance. For an EV mechanic, computer-based diagnostic equipment is a regular tool that is used to maintain a sophisticated battery, electrical, and motor operation.

Upgrade

A lot of aftermarket products for gas engines can be used in the EVs as well. The aftermarket for EVs will grow as the EV market grows. Soon, the customers will be able to modify the battery system, select the best battery system to go faster and longer. The EV owners can even change the sound of the vehicle to let people know that they are coming around the corner. It is an exciting time for manufacturers, OEMs, Tier 1 suppliers, and Tier 2 suppliers to develop new products for a new and upcoming market. It is similar to tune up an EV as compared to its internal combustion counterparts. Things such as widened tires, stiffened suspension, transmission modifications, and improved steering. Additionally, modifying the exteriors of a car can change the appearance, add to the downforce, increase the traction, and enhance the aerodynamics.  

See Also :- Top Automotive Tech Companies

Read Also

follow on linkedin Copyright © 2021 www.autotechoutlook.com All Rights Reserved | Privacy Policy
Top