Gartner says 2023 is the moment of truth for battery-electric vehicles
Summary
“The spike in electricity prices in Europe make BEV running costs less attractive, some countries, like the UK, Switzerland, and Australia, are starting to introduce EV taxation. In addition, China ended electric vehicle subsidies at the beginning of 2023 and global charging infrastructure still has many coverage gaps and the average quality of service is poor.” In addition, the sharp increase in raw material prices like lithium and nickel will inherently drive BEV costs higher, which will make it harder for original equipment manufacturers (OEMs) to close the price gap with internal combustion. They also face short supply of key materials for BEV batteries, causing the prices of commodities to surge,” said Mike Ramsey, VP Analyst at Gartner. At Cranfield University, we have been able to develop novel Battery Management System (BMS) algorithms that enable lithium-sulphur to work more efficiently, and we have exploited artificial intelligence and control theory to assist with this. However, one of the biggest challenges facing the electric vehicle market as a whole is distribution and scaling up production, though the UK Government has funded some great work here.