Major automobile companies are going into EV ONLY strategy by 2030. Can technology accelerate it?
The biggest reason for the tech giants to switch to EV technology is because of the growing concerns about the environment and depleting reserves of fossil fuels. Electric vehicles are going to solve major problems as they are low on maintenance, you can save money spent on gas, and they provide better performance compared to gasoline-powered vehicles.
As technology improves electric vehicles will be the driving force for the automobile sector which will boost the development of the data and vehicle analytics. Industry leaders are accelerating the speed of automotive technology innovation as they develop new concepts of connected, autonomous, and shared mobility. According to industry experts and analysts, by 2030, there will be 6.4 million electric cars on UK roads, improving air quality as well as the transport sector’s contribution to the country’s carbon emissions. It is expected that there will be between roughly 8 million and 11 million hybrid or electric cars in the UK.
So, What are the challenges in the EV world today?
Like every evolving industry, there are several challenges today that are plaguing the EV industry.
Below are the top 5 challenges:
- Insufficient charging stations
- Low Mileage
- Lack of Service centers
- Lack of skilled labor (Breakdown & maintenance)
- Problems with battery management
Other challenges:
- No clarity in government policies
- Supply chain problems
- Trends-chatbots
- Higher vehicle cost
So, How technology could address the above top 5 challenges?
In-sufficient charging stations:
While it is consuming time to install more charging stations at workplaces and public destinations, Technology could optimize availability by locating nearby public and private charging stations ensuring the availability, Pre-booking charging stations, and Effortless payments.
Mileage optimization:
Technology Tools could keep track of Service schedules and the Status of Servicing, help send notifications on Tyre pressure monitoring, and optimized interval for servicing required due to Harsh braking.
Lack of service centers:
Technological advancements include Pre-booking of servicing, Location tracking of centers, and Preventive maintenance to reduce going to centers.
Lack of Skilled Labor:
This challenge could be addressed through Learning Management solutions which include videos, Blogs, case studies, and articles to upgrade their skills.
Battery management:
The battery system is the heart of an electric vehicle, and managing its health is critical for ensuring a smooth and uninterrupted operation. A critical need of EV owners and manufacturers is the real-time monitoring and management of the battery system, which can help them manage important parameters such as battery health and charging status.
The BMS provides detailed information on the battery’s health, state of charge, and charging status, which can help EV owners and manufacturers optimize battery performance and extend battery life. Real-time monitoring can help owners and manufacturers identify the best time to charge their EVs, reducing the risk of overcharging or undercharging, which can damage the battery and reduce its lifespan.
Business Impact
Below are a few important benefits of above to any EV manufacturing company
- Increased efficiency, profits, and performance
- Boosted productivity and output levels
- The improved overall growth of the company
Conclusion
Numerous technological advancements and innovations could be used to overcome all the traditional challenges and problems, which are a showstopper. Technology-driven trends such as shared mobility, electrification, connectivity, and autonomous driving are leading to increased efficiency, profits, and performance leading to the overall growth of the company. Sankey Solutions has associated with several brands that are there in the EV space and now understands the EV ecosystem thoroughly. Our solutions have been thoughtfully designed with a focus on key factors such as quality, performance, cost, and time to market. These are broadly addressing most of the challenges mentioned above for global automotive players.
Kalpana Sha Iyer
Head of Business, Growth and Strategy – UK & EUROPE
Sankey Business Solutions
For further queries contact: kalpana.s@sankeysolutions.com