Evolution of the electric car
To understand the revolution of electric vehicle, it is useful to analyze the key elements that drive it today. Undoubtedly, consumer tastes and preferences are changing.
The engine of these behavior changes - according to experts - is based on three key elements; the technological innovation that represents electric car, and two other factors, environmental awareness and policy changes affecting the automotive sector.
It is a revolution, yes!… But the planet is very big and here, we are not all going at the same pace. If we look at the global numbers, currently, the electric vehicles Hybrids represent approximately 5% of the global volume in light vehicle sales.
What does this mean? That it is not the same to look at the car fleet in Europe, the United States or China, than to compare it with Russia or Africa, to give an example. Even so, we are going to verify with data, why in a few years you will have an electric or hybrid car at home.
1.- Global evolution in the sale of electric and hybrid vehicles
As we have commented, the hybrid and electric vehicles They represent approximately 5% of global sales volume, but this figure is expected to increase to 39% in 2030 (Report HERE).
In the following graph we see the growth of the hybrid and electric vehicle worldwide …
To reach these levels, automakers have pledged to significantly increase their investment in the development of electric vehicles. Not because they wanted to (According to gossip), but rather because of global regulations that have had a significant impact on the level of carbon dioxide emission standards in the automotive industry.
And what about the bigger markets; Europe, China or USA? The sale of vehicles powered by fossil fuels, now, is declining, being replaced by electric or hybrid vehicles.
If we look at Europe, although the change is not very noticeable, the jump has been substantial in the last two years. Electric vehicle sales in Europe reached 408,000 units in 2022, 33% more than in 2022.
The sales volumes of the electric car have quadrupled in 4 years, but they remain a niche of only 2.3% in the vehicle market. Y electric vehicles still represent only 0.4% of the 320 million cars and light commercial vehicles that exist on European roads.
Although it represents only a small portion of the total, as we have seen, the constant double-digit growth rates can change the image very quickly (See report HERE).
In Europe, electric car sales volumes have quadrupled in 4 years
2.- Are electric cars already cheaper to buy?
Electric cars are already cheaper to buy and use than traditional alternatives such as gasoline or diesel in five European countries, according to recent research.
The study examined the purchase, fuel and tax costs of Europe's best-selling car, the VW Golf, in its battery-electric, hybrid, gasoline and diesel versions.
For four years, the purely electric version of the car is the cheapest to buy in five EU countries
Over four years, the purely electric version was the cheapest anywhere - the UK, Germany, France, the Netherlands and Norway - due to a combination of lower taxes, fuel costs and purchase price subsidies. .
3.- How do electric car charging points evolve?
Obviously, if we do not have where to recharge the vehicle, then we are going badly! The evolution of charging points for electric vehicles is being as dizzying as sales.
Like the technological implementation of other systems related to vehicles, for example, the interactive pedestrian crossings that we can see from here.
4.- How does the price of electric vehicle batteries evolve?
The batteries used in electric cars are key to offering good autonomy and, therefore, to the success of this type of vehicle.
One of the keys to the boom in this type of transport has been the technological improvement in lithium-ion batteries. The evolution of this technology is causing a precipitous drop in prices that can be seen in the following image.
Lithium batteries have seen an 89% reduction in price and a 73% increase in energy density. By the way, from the RACE they have an excellent article where they explain in detail what electric car batteries are like.
5.- What about the autonomy of the electric car?
The range of electric vehicles that travel more distances, year after year, is improving. Because it is important? Consumers need to overcome the "anxiety" that a battery cannot carry them as far as a tank of gas.
In the last six years, the average range of electric vehicles has expanded by 56%
As battery performance continues to improve and charging networks expand, this fear is likely to diminish over time.
In the last six years, the average range of electric vehicles has expanded by 56%, and some models can drive more than 380 km on a single charge (Most models available on the market today last an average of 200 kilometers on a single charge and support 3,000 charge cycles).
6.- Is it so clean to use an electric vehicle?
Although it seems obvious, from a technical perspective, it is not so obvious, because in truth we are dealing with many factors.
For example, the typical question … How environmentally friendly is an electric car if it runs on energy from an oil-fired power plant?
Multiple studies have found that electric cars are more efficient and therefore responsible for less greenhouse gases and other emissions than cars powered solely by internal combustion engines.
If we go to the numbers. An EU study based on the expected performance for 2022, revealed that an electric car that uses electricity generated exclusively by a power plant - fueled by oil - would consume only two-thirds of the energy of a gasoline car that travels the same distance.
These last two graphs are taken from an interesting article in The Guardian newspaper that also analyzes other aspects such as the construction of the electric car or what happens with the batteries.
Obviously, it is a very important sector, which moves a large economic volume, and where the "lobbies" - from each side - try to play their role.
7.- Who is in the lead in buying electric cars?
In absolute terms, the performance of electric vehicle sales in China is quite remarkable. However, the adoption rate represents only 2% nationwide.
Interesting to read the article on how China's electric buses affect the oil industry … Crazy !.
However, the positive performance of the Chinese market contributed to placing the country in a strong and balanced position in McKinsey's last overall ranking, which was only surpassed by Norway, which continues to strengthen its leadership, ahead of Japan, Germany and the United States.
The general acceptance of electric vehicles can be tested collectively in Europe, but in Norway, they have it very clear and more if we look at the latest figures.
In March in Norway, the market share for the sale of electric cars reached 58.4%
Last year, it was closed, with one in three cars sold being electric. This year, during the month of March, the electric car market share in Norway reached 58.4%. Given these numbers, Norway expects to reach a 50% market share for this type of vehicle for the year as a whole, compared to the 31.2% achieved last year.
Joy for many, disappointment for others … What happens if you buy too many electric cars? Simply that the market cannot absorb the demand and we have a problem.
Despite all the joy, supply is lagging behind demand in Norway. The Norwegian electric car association "Elbilforening" criticizes the long waiting lists for an electric car and, in this context, even considers that the lack of supply jeopardizes the Government's objectives for 2025. Remember, all cars sold will be 100% electric or hybrid.
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