The electric vehicle industry is growing at an unprecedented rate, and many exciting developments are on the horizon. Despite supply constraints and the COVID-19 pandemic, the number of passenger EVs on the road is expected to exceed 20 million. The EV market is booming, and there are many exciting things to look forward to! In this article, we will look at five notable trends and developments in the EV industry for 2022 that will shake up the industry and change how we think about electric vehicles.
A Quick Overview of the EV Industry
The electric vehicle industry is growing exponentially. As mentioned earlier, the number of EVs on the road is expected to exceed 20 million in just a few years. This is a huge increase from the current number of EVs, which is just over one million.
What’s driving this growth? There are a few factors:
- The price of EVs is dropping as technology improves and manufacturing becomes more efficient.
- Government incentives are making EVs more attractive to consumers.
- Range anxiety is slowly being alleviated as the charging infrastructure improves.
- EVs are becoming more popular as they are a cleaner and more sustainable option.
5 EV Industry Trends in 2022
2022 is shaping up to be an important year for the electric vehicle industry. Here are five trends and developments that you should be aware of:
Governments Will Increase Their Influence on the EV Industry
Governments around the world are starting to pay more attention to the electric vehicle industry. They realize that EVs are a key part of the solution to climate change and are starting to put more policies and incentives in place to encourage the growth of the EV industry.
This increased government involvement will greatly impact the industry, and we can expect to see more government incentives and regulations in the coming years. In the US, for example, President Joe Biden has pledged to have 500,000 EV charging stations installed by 2030.
This shift in focus toward EVs is a clear indication that the EV industry will soon explode into the mainstream and become one of the most important industries in the world.
The Battery Technology Race Will Intensify
As the EV industry grows, so does the competition to develop better battery technology. Every automaker is racing to develop batteries that are smaller, lighter, cheaper, and have a longer range.
This intense competition is already leading to some amazing breakthroughs. For example, Tesla’s new batteries can last up to one million miles, equivalent to 100 years.
This battery technology race will only intensify in the coming years, and we expect to see some incredible breakthroughs that will revolutionize the EV industry.
The Charging Infrastructure Will Improve
Bolstered by government funding, private companies will soon drive growth in the EV charging infrastructure. This will be a key development in overcoming one of the main barriers to EV adoption – range anxiety.
As the charging infrastructure improves, consumers will have less anxiety about running out of charge and will be more likely to switch to an EV. As a result, we expect to see a dramatic increase in the number of charging stations in the coming years.
Electrification of Fleets
The effort to electrify the world’s fleet of vehicles will intensify in 2022. This is being driven by government regulations and the increasing cost-competitiveness of EVs.
This trend is already underway, with several major companies announcing plans to switch their fleets to EVs. For example, UPS has announced that it will have all-electric vehicles in its Chinese fleet by 2025.
Apart from UPS, Amazon, DHL, and FedEx already have electric-powered trucks and vans on the streets, with news that they’re planning to order more electric fleets in the near future. As more and more companies switch to EVs, we can expect a major increase in EV sales.
At the same time, we will also see a rise in shared and autonomous EVs. This is driven by the need to reduce traffic congestion and emissions and the increasing affordability of autonomous technology.
Advancement in Integration for Renewables and Battery Storage with EV-Charging Infrastructure
Sources of clean and renewable energy from wind and solar are increasingly being integrated into the power grid to help meet rising demand, especially during peak hours. However, the intermittency of renewables can create challenges for grid operators.
One way to address this challenge is to pair EV charging infrastructure with renewables and battery storage. This will help to store renewable energy when it is being generated and release it when demand is high.
This integration of renewables and EVs will help to create a more sustainable and efficient energy system. In addition, it will also make EV charging infrastructure more resilient to power outages.
Why Use DATAMYTE?
All of these EV industry trends indicate that it’s a great time for auto manufacturers to shift their focus to EV manufacturing. But to make the switch, they’ll need to create a workflow optimized for EV manufacturing. And that’s where DATAMYTE comes in.
The DataMyte Digital Clipboard is a workflow automation software capable of creating workflow solutions that will help auto manufacturers optimize their EV manufacturing process. With the DataMyte Digital Clipboard, manufacturers can create a digital workflow that records every single step in the manufacturing process and gather all the associated data and turn them into actionable reports.
This data can also be used to improve the manufacturing process and make it more efficient. In addition, auto manufacturers can also take advantage of our EV checklist template, which is a ready-made checklist that can be used to streamline the EV manufacturing process.
If you’re an auto manufacturer looking to venture toward EV manufacturing, don’t hesitate to contact us today to find out how the DataMyte Digital Clipboard can help streamline your workflow needs.
These are just some trends and developments we expect to see in the EV industry in 2022. These trends and developments point to a bright future for the EV industry, with sales expected to rise in the coming years. So if you’re thinking of switching to an EV, 2022 might be the year to do it.
And for automakers looking to venture into EV manufacturing, the DataMyte Digital Clipboard is the perfect solution to help streamline your workflow needs. Book a demo with us today!