EVWorldNews

Day: December 21, 2022

  • EV charging sees 228% rise in investment in 2022

    There is a new report about the zero emission vehicles which states that the there is an estimate about the cumulative investment in the charging of electric vehicles and its hardware. The estimate of cumulative investment states that the EV charging hardware and installation is going to reach $62 billion by the year end with the investment of $28.6 billion in 2022 and that is an increase of 228% from the previous year of the total investment. There is a major expense here which includes 600,000 chargers being built by the Chinese. The total investment all over the world is going to pass the market of $100 billion in the year 2023 if the pace that China has maintained is kept up. This is a milestone which is going to transition into the new phase of the EV charging lifestyle.

    Many signs are there of a transition being underway and the facts suggest that the factories are now scaling up and the increase in purchase commitments. There has been an influx of the investors on infrastructure and coordination all over the charging ecosystem with the automotive, utility and charging sectors all working together.

    The growth has happened through various stages. It began when the Nissan Leaf launched in the year 2010.

    The new scale of this industry was hit during the year 2019 when the public charging infrastructure. Tesla more or less has been a lone performer up to the point with the 12,000 superchargers all over the world and 120 kw max charging speeds.

    The peak adoption has become a great boost for the electric vehicle charging which is going to grow further in the years to come with the infrastructure development in the developing countries where the pollution levels are higher such as India where the adoption will grow the market considerably.  

  • Electric Vehicles have existed for more than a century.

    Electric vehicles are widely perceived to be a phenomenon which has recently grown but it is a story which starts many years before the onset of the superpower of electric vehicles which is Tesla. William Morrison who is believed to be the eccentric chemist had been working on an electric carriage long before the 1900s and he did it in his secret basement which he called Cave. The vehicle may not be a competitor to the kind of technological advancement we currently have but it was certainly an inspiration for many a scientist who has been researching on bringing the carbon footprint of the country down. Electric cars history suggests in 1900s were a golden period for the EVs as over one third of the vehicles which were built were electric ones. The problem then however was the slow speed of the vehicle and the heavy batteries and the mass-produced Model T of Ford which had been dealing serious haymakers to the industry of electric vehicles.

    Also read : EV World News – Get into the world of Electric Vehicles

    Ford was the pioneer of creating petrol powered vehicles and making them affordable for the buyers. The US had a better infrastructure than most other economies and the growth of Texas Crude oil gave rise to some of the biggest innovations of the country in terms of vehicles. Rural Americans found it easy to get to petrol and found it really cheap as well.

    The growth has been based on the electric vehicle need due to the carbon neutral need as the climate change has taken place with environment taking a battering due to the petrol based carbon emissions. Electric vehicles are offering a hope to grow the countries towards a carbon neutral future which could be more sustainable than the one that we are currently looking at. The growth is expected to further take place with investment by the governments.