Top Recent Trends in EVS

Top Recent Trends in EVS:

As per FADA, EV sales saw a 155% YoY growth between FY20 and FY22 to 4,29,217 units in FY22

Battery tech will make EVs more affordable and accessible than petrol, diesel, or gas cars, thus boosting their demand. Improvement in Energy Storage Systems; It means battery, fuel cells, ultra-capacitor, flywheel, etc which is used to power the propulsion system of EVs. At present mainly battery (Li-ion batteries) is used to power because of its unique features high energy density, cycle life, and comparative support to fast charging.

Growing EVs Smart & Fast Charging infrastructure technologies will make sure EV charging will be convenient for everyone, regardless of whether you’re at home or on the road. Load balancing can also be supported by smart charging.

Non-Lithium-Ion Battery-Powered Vehicles - developing graphite battery-run electric scooters.

Accessibility of Raw materials, Power Electronic Chips, and other required components for manufacturing EVs in India.

Artificial Intelligence & Internet Of Things (IoT)

Increasing User Experience: The better experience a user gets in driving an electric vehicle the more user is attracted to purchase an electric vehicle. The electric vehicle is already giving very less noise and vibrations during driving but the use of the V2X, AI, ADAS and ADAS lead to autonomy in driving will further increase good experiences for the user.

EV players should focus on scaling up their original equipment manufacturers (OEMs) to increase EV production.

Challenges in EV Industry:

1. Infrastructure Still In Catch-Up Mode
2. Batteries Chemistry and Technology adoption
3. Utilization of different resources like hydrogen, different battery technology
4. Uneven EV sales
5. Dynamic economy and sustainable infrastructure
6. EVs are still in development phase.

Published on: 05 Feb 2022

References:

1. Inc42: https://inc42.com/resources/7-trends-that-will-shape-indias-ev-future/

2. e-vehicleinfo.com: https://e-vehicleinfo.com/top-5-trends-that-will-shape-up-indias-ev-industries/

3. greenlancer.com: https://www.greenlancer.com/post/ev-market-trends

4. datamyte.com: https://datamyte.com/ev-industry-trends/