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Electric Vehicle – Mechanism, Industry and growth, Demand, Types of Electric Vehicle

For achieving sustainable development goals and offer technologically superior products, for both customer utility and the interest of industries, Electric Vehicle production and distribution has been on a considerable rise in recent years. 

What is an Electric Vehicle?

EV or electric vehicle utilizes the device of an electric motor. EV has replaced the internal- combustion engine that combines various gases and fuels to generate power. Due to a rise in air pollution and emissions from carbon footprints and vehicles, electric vehicles have been in vogue for a long time. As a result of its mechanism, the electric vehicle is effective in tackling the problem of pollution. An electric vehicle is a replacement for automobiles. Batteries that use zinc-air, molten-salt, lithium-ion are used in the manufacture of Electric Vehicles.

Mechanism - How does an EV operate?

To explain the demand for Electric vehicles, consumers must have a profound understanding of its mechanism. EVs often use one or more electric motors aided by the traction motors for propulsion. Self-charging devices such as turbochargers and RBS, regenerative braking system enables one to charge the vehicles.

Global Markets for EV, Demand and Types of Electric Vehicles

According to records, the market for electric vehicles was estimated to grow from 162.34 billion USD in 2019 to over 802 billion by 2027 by a CAGR of 22.6%. Emerging from fuel-emissions which are detrimental to the environment, there has been a noticeable surge for electric vehicles. Technological advancements have been a driving force for the growing popularity of electric vehicles. The prominent range of electric vehicles, in the market, is battery electric vehicles (BEV), Hybrid electric vehicles, and plug-in hybrid electric vehicles. It is categorized into two-wheelers, passenger cars, and commercial vehicles.

Top Manufacturers of Electric Vehicles

  • Tesla

With a global market share of 28% and a sale of over 179,050 units, Tesla is one of the largest producers of electronic vehicles. What makes them stand apart from their competitors in the market? With the implementation of zero-emission and discarding the use of fossil fuel, Tesla has adopted an environment-friendly mode of manufacture. Founded in the USA in July 2003 by Elon Musk, Tesla aims at the three key factors for increasing their sales. These factors are technology, design, and performance. 

  • Volkswagen

Marking a breakthrough in electric mobility in 20202, as the CEO of Volkswagen says, after having delivered 212,000 electric cars. Volkswagen launched nine new variants of plug-in hybrids and electric models. Their most popular model was ID.3 with a leap in sales of over 56,000 units sold. Following the success of the ID.3 model, the German motor giant has planned a launch of the ID.4 model.

  • BMW 

The BMW has manufactured an efficient model of the plug-in electric vehicle. By reinstating the mechanics of the mild-hybrid plug-in, they have created a car that captures electric energy while it is being driven. In addition to this, they have developed a model that provides the facility of being charged while the car is at a power station. The BMW 530e iPerformance can drive up to 28 miles with a fully charged battery capacity. Often the owners of these vehicles are provided with incentives and have to pay lower taxes owing to the reduced Co2 emissions.

  • Nissan 

Providing an exclusive driving experience, accompanied by the benefits of charging at home, Nissan brings over the efficient electric vehicle. The Nissan LEAF is powered solely by electricity. The Nissan Intelligent Mobility offers the facility of cars parking themselves and sensing motion around. With features such as Pro-pilot park, E-pedal, electric vehicle lithium-battery and, e-powertrain, Nissan is scaling new heights in the electric vehicle industry. 

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