What does the EV industry and its full value chain look like for next year (2023) in Europe and the UK?
Dennis William N.
Management Consultant - Assisting Firms in Automotive/E-Mobility & value chain to Recruit & Retain Top Talent |1 Year Guarantee Scheme for Employers| 96 % Hiring Accuracy| Overall Hiring Costs Reduced| 25 K + Followers
Introduction to The EV Industry
?As far as the introduction of EVs or Electric Vehicles is concerned, I have come to know the three major components of the EV industry.
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However, software and power networks also come into action to provide enough support to the EV industry. The EV industry is a specific industry with enormous potential and expanding swiftly. Therefore, we can assume the significant and possible growth of electric vehicles in Europe and the UK over the next few years.
Fuel Cell Electric Vehicle?
A fuel cell electric vehicle (FCEV) is a type of electric vehicle (EV) that uses a fuel cell, instead of a battery, to power its motors.?
Fuel cells are superior to combustion engines in terms of efficiency because they can transform a fuel's chemical energy into electricity via an electrochemical process.
?As a result, FCEVs emit far fewer pollutants than gasoline or diesel-powered vehicles, making them a vital part of the shift to cleaner transportation.?
?Indeed, the EV industry can increase in the next few years, with many new products and services coming to market.
Plug-in Hybrid Electric Vehicles?
?The EV industry is expected to grow next year, with more plug-in hybrid electric vehicles (also known as PHEVs) hitting the market. PHEVs are constantly gaining popularity due to their environmental benefits and fuel efficiency.
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The requirement for technology to support the expansion of the ?EV industry increases as the industry continues to expand. For example, EV charging stations will become more commonplace, and batteries will continue evolving to meet PHEVs' demands.
Software and power networks will also play a role in supporting the EV industry as they work to provide reliable and efficient power to PHEVs.
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This growth will be driven by technological advances, stricter emissions regulations, and the need for more sustainable transportation options. As a result, the EV industry will increase in the next few years, with many new products and services coming to market.
In 2023, the EV industry will be worth an estimated $1 trillion. The cost of electric vehicles (EV’s), batteries, and the value of connected services are all included in this. This growth will come from China, Europe, and North America.
?Electric-only vehicles
By 2023, there are expected to be over 30 million EVs worldwide. Electric-only vehicles (AEVs) are distinguished from plug-in hybrid vehicles (PHEVs) by their absence of internal combustion engines (ICEs) and run on rechargeable batteries alone.
All-Electric Cars
?We cannot deny this cardinal fact that when we look at the EV industry and its full value chain for the next year (2023), they are in a better position to say that all Electric Cars will make a significant change in vehicles in the UK and European roads.
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Public and Home Charging Units
?Moreover, in terms of charging, of course, more public charging units will be installed continuously for the common masses. Therefore, in this regard, home chargers have become more common.?
?Role of Charging Batteries
?Of course, batteries play a great deal of difference in vehicle driving. That is why batteries should be up to mark by adding improvements such as longer ranges and faster charging times.
?EV ?Applications
?EV?applications are also considered the perfect helping role for drivers to find the available charging units according to their planned and calculated journey. However, Power Networks are also likely to be upgraded with the increased demand for electricity.
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The Value Chain for?EVs
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The EV industry is still in its infancy phases of growth. As a result, there is yet to be a universally applicable solution to the issue of how the value chain should be structured. Nevertheless, the following vital variables and trends that will significantly influence the firm may be identified at this moment.
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Charging
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In the EV market, a charging network for electric cars (EVs) is essential. Feel free to find the public charges in parking lots, shopping centers, and other public places. In contrast, you can find private chargers
Batteries
Batteries are yet another essential component of electric transportation. As new technology is developed, lithium-ion batteries, which are the most popular kind of battery used in electric vehicles, continue to see improvements in both their performance and their capacity. Batteries are used in electric power vehicles and stationary energy storage systems, becoming an increasingly significant component of the energy infrastructure as more forms of renewable energy are introduced to the grid
?Software
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EV’s also relies heavily on software as an essential component. For example, software that can handle charging schedules and invoicing must be installed in EV charging stations, and software that can monitor driving behaviours and battery consumption must be installed in EVs.?
?In fact, in not too many years, the software could also contribute to managing the ever-increasing number of EV’s driven on the roads.
Power Grid
Last but not least, the nation's power grid will need to be improved to support the growing number of electric cars. The distribution grid, which transports energy from power plants to private residences and commercial establishments, and the transmission grid, which transports electricity over extended distances from one area to another, are included in this.
?A handful of the companies and movements that will significantly impact the EV industry in the coming years are included below. In addition, we anticipate the emergence of new competitors and trends as the industry continues to develop and expand.
Conclusion:
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Finally, the EV industry is predicted to overgrow in the next few years, with electric vehicles (EVs) expected to make up a significant proportion of new car sales by 2023. This rapid growth will challenge the automotive and energy industries, policymakers, and regulators.?
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The EV industry is complex, with many stakeholders involved in different parts of the value chain. These include:?
·????????Car manufacturers
·????????Battery manufacturers
·????????Charging infrastructure providers
·????????Utility companies
and many others.
The industry is also undergoing rapid change with new technology. Moreover, I have tried my best to answer the following fundamental question.
?What does the EV industry and its full value chain look like for the next year (2023) in Europe and the UK?
A CTO who has transformed businesses through technological innovation and an advisor to start-up's
2 年Nice Article to get a high level view of the components in the industry. One thought that occurred to me as I read this was related to the software side of the industry. charging points could be a great place to double up as software download points for new functions features and Software defined vehicle updates.
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2 年An integral but often downplayed part of the value chain in the rising EV industry is after sales service and support. I feel it will be safer for would be owners of Electric Vehicles to be aware that maintenance for EV’s, Home charging connections and charging stations will eventually be required over time due to one or more of the following factors: 1. Aging/ decreased efficiency 2. Accident 3. Fire 4. Flood/Water Ingress and 5. Other Circuit faults The assumption is that manufacturers will provide the needed support and services through the dealerships and franchise service outlets. The reality however is that with time only a few manufacturers will be able to maintain the business model of proprietary EV solutions like the Tesla. Even with the gradual adoption of OTA(Over The Air) updates which forces car owners to adopt a Subscription model of vehicle maintenance, I feel that the reality of the current vehicle after sales Industry won’t change much when Electric Vehicles gets close to 70% adoption.
Management Consultant - Assisting Firms in Automotive/E-Mobility & value chain to Recruit & Retain Top Talent |1 Year Guarantee Scheme for Employers| 96 % Hiring Accuracy| Overall Hiring Costs Reduced| 25 K + Followers
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