After being perceived as a fringe technology, the electric vehicle market is reaching a tipping point. Though electric vehicles are at a very early development stage, their demand is constantly rising with each passing year. With the environmental concern, the impact of vehicles powered by non-renewable energy has heightened stakeholders' interest in investing money to develop futuristic EVs. Modern BEVs currently offer a wide range of benefits: performance, cutting-edge technology and connectivity, a quieter ride, lower running cost, full city access, unique exterior styling and increased interior space. Further, EVs are potentially cheaper to run and maintain than traditional cars. Unsurprisingly, that's making them an easier sell for consumers – and in turn, that's increasing demand for more EVs in a broader range of models. The European Union and several national, provincial, and local governments around Europe have introduced policies to support plug-in electric vehicles' mass-market adoption.
EVs typically use less fuel than similar conventional vehicles because they employ electric-drive technologies to boost vehicle efficiency through regenerative braking—recapturing energy otherwise lost during braking. The cars have the benefit of flexible charging. Since the electric grid is in close proximity to most locations where people park, they can charge overnight at a residence. If EV charging is managed effectively, mainly outside peak electricity demand periods, it will help create a flatter electricity network demand profile over a typical 24-hour period. Furthermore, the COVID-19 pandemic has slowed down the sales of petroleum vehicles worldwide, but EVs have recorded a surge in sales. A positive effect of COVID-19 is that more people started to care about the environment, potentially accelerating the mass adoption of EV.
To shed light on the organizations that cater to the development of the EV industry, Auto Tech Outlook has created a list of top 10 electric vehicle solution providers in 2021. These providers are transforming the electric and hybrid vehicle landscape with their best-in-class solutions.
We bring you Auto Tech Outlook's " Top 10 Electric Vehicle Solution Companies – 2021”
