Another historic year for EV markets and technologies, with major policy developments, sales growth, and the introduction of landmark models.

With over 70,000 A major factor in the widespread adoption of EVs may be the cross-pollination that China’s success is fostering with other regions of the world. In fact, BYD and NIO have declared their intentions to start selling EVs in the European market. Politics might present the biggest obstacle here. The EU has a history of prohibiting imports of inexpensive (or less expensive) EVs from China. For instance, an up to 83% tariff was imposed on e-bikes at the start of the craze a few years ago.

In June 2022, the European Union (EU) announced a historic ban on internal combustion engines (ICE) for 2035. Subsequently, the EU declared an e-fuel ban for cars and light trucks (vans). The decision further solidifies battery-electric vehicles as the cornerstone of upcoming markets for road transportation. Using current vehicle sales data, the ban corresponds to annual sales of 9–10 million electric vehicles by 2035. Given that the EU sold about 1.8 million electric vehicles in 2021, the targets, which are more than ten years away, appear attainable.

The modernization of the federal tax credit for electric vehicles, which is a component of the larger Inflation Reduction Act, gave the US market momentum on the other side of the Atlantic. The incentive is intended to create a supply chain that is more centered locally. Although this is advantageous in the long run, it may take some time before the policy affects market expansion. The most important US trend to watch in 2023 is the growth of the passenger truck market. Ford’s electric F150 was released to great acclaim; GM’s comparable-priced Silverado is scheduled to hit the market in 2023; and GM’s opulent Hummer EV has been out of production for two years. While Tesla currently has around 50% of the US EV car market, its share has declined slightly in recent years. IDTechEx anticipates that incumbents’ passenger truck models will overtake Tesla’s current battery supply as a major driver of US sales as it prioritizes battery supply for the Model 3 and Model Y.

Speaking about the new EV battery, the shift toward 800V platforms and higher is well under way, with GM, Hyundai, and VW transitioning alongside start-ups like Lucid Motors. By lowering joule losses and enabling smaller high voltage cables, 800V platforms increase efficiency and reduce weight. The transition is made possible by new materials, technologies, and cooling techniques used in silicon carbide MOSFETs with die-attach materials that are silver-sintered.

Article By Maurizio Di Paolo Emilio