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Electric vehicles – the growing picture

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16.03.2022

Electric vehicles – the growing picture

It’s difficult to ignore the increasing number of electric vehicles (EV) arriving onto our streets. In the UK, electric vehicle licence plates boast a strip of green as a sign to others that it generates zero tailpipe emissions. From fuel stations to supermarket car parks, spaces are being handed over to electric vehicle charging points.

The electric vehicle revolution has begun. The question is, at what rate is it expected to grow and at what point will we live in a majority EV world?

SCALING UP

The demand is only set to grow

According to data from the SMMT, the industry body that monitors registrations in the UK, battery electric vehicle sales grew by more than 26% last year and, in doing so, secured around a quarter of the market share. Naturally, it would be a bold and somewhat unrealistic prediction to say that, by continuing to grow at this rate, all cars sold in the UK will be battery-electric by 2025. But plans put in place by the UK Government will see the sale of new non-hybrid internal combustion vehicles banned by 2030.

Looking at the global picture, the expected growth of electric vehicles over the next decade is more modest but by no means insignificant. Research by BloombergNEF suggests that, by 2025, worldwide EV sales are expected to reach 14 million per year, with a global fleet totalling 54 million vehicles.

SUSTAINABILITY IS CRITICAL

Higher demand leads to a higher environmental burden if technology doesn’t change

There’s still a considerable amount of uncertainty beyond this point. Factors including the price of components, infrastructure viability and governmental incentives will undoubtedly impact the speed of adoption. If the predictions are correct and we’re on track to reach annual sales of 14 million EVs globally by 2025, in the shorter term we all need to play a part in delivering sustainable electrification collectively. If not, we risk causing more environmental damage.

Our semi-sinusoidal motor technology is part of the solution. By removing the rare-earth magnets from our motors, we’re also able to mitigate the need for finite materials sourced by dirty mining practices and traded in volatile markets.

Clearly, we’re still several years away from understanding the true EV endgame. In a decade or so, it will be interesting to reflect on how the industry’s predictions were reflected in reality. Regardless, we hope that others will join us in ensuring that the journey is made with true sustainability at its core.