Title: Electric vehicle trends 2020: Top 6 factors impacting fleet electrification | Geotab
Headings: Electric vehicle trends 2020: Top 6 factors impacting fleet electrification
Electric vehicle trends 2020: Top 6 factors impacting fleet electrification
Published on February 3, 2020
Introduction
The future trends impacting fleet electrification
1. The EV price tag will continue to drop as battery costs fall
Improvements in battery technology
Industrial policies supporting battery development
Increasing production capacity
2. Electrification will spread into the heavier vehicle segments
Commercial electric vans
Electric buses
Medium and heavy-duty trucks
3. Updates to policy and regulation
Zero-emission vehicle deployment
Fuel economy and emissions standards
City access restrictions
4. Increase in public charger availability and capacity
The dawn of the mega-charger in heavy duty
Investments in public charging infrastructure
5. Collaboration accelerates EV adoption
Public and private sectors show their intent
6. EVs to dominate shared mobility services
Hurdles to market penetration
The benefits of going green
Conclusion
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Content: The European Commission’s Strategic Action Plan for Batteries seeks to build a robust battery value chain within Europe. The primary objective of this initiative is to attract more investment and to position the EU as a larger player in the battery industry, in competition with the U.S. and China. Increasing production capacity
The scale of battery manufacturing plants is gradually increasing and transitioning towards mega plants, significantly reducing the cost per unit. While in 2019, most plants ranged in size from 3 to 8 gigawatt-hours per year (GWh/year), several plants exceeding 20 GWh/year are now coming online and experts predict that there will be five more worldwide by 2023. Data from Benchmark Minerals predicts that by 2028, there will be sufficient output to produce 1.9TWh of lithium-ion battery capacity per year. That equates to enough batteries for between 35 and 37 million pure electric vehicles annually. 2. Electrification will spread into the heavier vehicle segments
As of 2019, the majority of the electric vehicle fleet was comprised of light-duty cars and two-wheelers. In 2018, the global electric car fleet exceeded 5 million, and global stock of electric two-wheelers was 260 million. In comparison, there were only 460,000 electric buses and 250,000 light-commercial vehicles on the roads.