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Outlook for EV Adoption and Technological Advancements in 2023

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Our Co-founder and VP of Engineering, Mudassirkhan Pathan, gets featured by Express Mobility. Read about the acceleration in EV adoption facilitated by increased consumer demand, government policies and advanced technological developments.

By: Mudassirkhan Pathan, Co-founder and VP of Engineering, Intangles

With countries worldwide transitioning towards sustainable energy sources, Electric Vehicles (EVs), in 2023, the shift from traditional Internal Combustion Engines to Electric Vehicles is expected to accelerate. A plethora of significant advancements towards mainstreaming EV technology, charging infrastructure, and market penetration will set the ball rolling. Many countries have set ambitious targets for EV adoption, and governments are offering incentives such as tax credits and subsidies to encourage the purchase of electric vehicles.

Outlook for EV adoption in 2023

EVs are expected to grow significantly in India due to various factors. Firstly, there is an increase in demand for EVs among consumers which is driven by growing concerns over environmental sustainability and the desire for more energy-efficient transportation options. Secondly, the Indian government is providing incentives to support EV adoption, such as subsidies on the purchase of EVs, tax benefits, and the creation of robust charging infrastructure.

In order to encourage EV adoption, the Indian government has launched various initiatives, such as the Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme, which provides incentives for EV manufacturers and buyers. These incentives are likely to further increase consumer demand and drive growth in the market.

Advancements in battery technology are due to play a key role in the growth of the EV market in India. Improved battery performance and lower costs are making EVs increasingly practical and cost-effective for consumers. Additionally, the development of fast charging technology is helping overcome range anxiety that has been a barrier to EV adoption in the past.  Due to increasing consumer demand, government incentives, and advancements in battery technology, the overarching outlook for EV adoption in India is set to be positive. Furthermore, the Indian government’s ambitious target of achieving 30% electric mobility by 2030 will boost the EV market, driving both mainstream adoption and growth in the coming years.

2023 will usher continued growth in charging networks, both in terms of the number of charging stations and the speed of charge. This is particularly important for long-distance travel, where fast charging is essential for drivers to be able to complete their journeys without having to spend hours waiting for their vehicles to charge. The government has launched the National Electric Mobility Mission Plan to support the development of the charging infrastructure.

Moreover, private companies and public-private partnerships are investing in building charging infrastructure, and several new charging networks are expected to be rolled out in the near future. This will increase the accessibility and convenience of charging for EV owners, making electric mobility more practical.

One of the key areas of focus for automakers is the development of longer-range EVs. As a result, we can expect to see the launch of several new EVs with ranges of 400-500 km on a single charge.

That’s not all; the use of digital twins in the mobility sector is set to grow substantially in 2023 and beyond. A digital twin is a digital representation of a physical asset or system that can be utilised for simulation, analysis, and optimisation. This groundbreaking technology is being used in the mobility sector to model everything from vehicles to urban mobility systems.

Automakers are using digital twins to simulate and test the performance of new vehicle designs, which helps to accelerate the development process and reduce the cost of physical prototypes. For example, digital twins can be used to simulate crash scenarios, which allows automakers to optimise the design of safety systems before physical prototypes are built.

Another area of growth for digital twins in the mobility sector is in the optimisation of vehicle performance. The technology can be effectively utilised to replicate the performance of individual vehicles and entire fleets, which can help to improve fuel efficiency, reduce emissions, and improve overall vehicle performance. For example, digital twins can be used to model the impact of different driving styles on vehicle fuel consumption, which can help fleet managers optimise their drivers’ driving behaviour.

Similarly, the development of advanced battery technology is also expected to gain momentum. Lithium-ion batteries have been the primary power source for EVs so far, but 2023 will mark the development of new types of batteries, such as solid-state batteries, that offer improved energy density and longer life. This will be particularly important for developing more affordable EVs, as the cost of batteries is one of the biggest factors contributing to the cost of an electric vehicle.

With advancements in technology, charging infrastructure, and affordability, there will be sustained growth in the mainstream adoption of EVs in the coming years. With all of these factors working in tandem, mobility will surely observe a substantial surge in the EV market in the up-and-coming future.

Disclaimer: Views expressed are personal and do not reflect the official position or policy of Financial Express Online. Reproducing this content without permission is prohibited.

Source : financialexpress

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