Embedded Files
Neutral Quest Inc. envisages itself to be an exceptional Automotive and CleanTech supplier, globally. The global electric vehicles (EV) market is evolving fast. Policies, administrations, regulations, jurisdictional phaseouts of internal combustion engines, original equipment manufacturer (OEM) new product road maps, infrastructure investments and customer acceptance are all converging to support adoption. We’re quickly moving beyond the early adopters, and the opportunity now is to fully commercialize the market for mass adoption.
Mainstream EVs will transform the automotive industry and help decarbonize the planet. The mobility industry is unleashing a dazzling array of innovations designed for urban roads, such as mobility-as-a-service, advanced traffic management and parking systems, freight-sharing solutions, and new transportation concepts on two or three wheels. Electrification will play an important role in the transformation of the mobility industry and presents major opportunities in all vehicle segments, although the pace and extent of change will differ. To ensure the fast, widespread adoption of electric mobility, launching new EVs in the market is an important first step. In addition, the entire mobility ecosystem must work to make the transformation successful, from EV manufacturers and suppliers to financers, dealers, energy providers, and charging station operators—to name only a few.
The transformation of the automotive industry toward electrification will disrupt the entire supply chain and create a significant shift in market size for automotive components. Critical components for electrification such as batteries and electric drives and for autonomous driving like light detection and ranging (LiDAR) sensors and radar sensors will likely make up about 52 percent of the total market size by 2030. Components only used in ICE vehicles such as conventional transmissions, engines, and fuel injection systems would see a significant decline to around 11 percent by 2030—about half the size of 2019 levels. Such a drastic shift will force traditional component players to adapt quickly to offset decreasing revenue streams.
Battery cell production is moving physically closer to vehicle assembly plants. One key development in battery sourcing involves the backward integration of OEMs from packs and modules up to cell production—mostly in the form of joint ventures with cell manufacturers. OEM backward integration plans result from their growing battery cell demand, the desire for control and certainty of supply, and the ambition to keep a significant part of vehicle value creation inhouse. OEMs are also seeking areas for differentiation, with battery technology, durability, and performance seen as key evaluation criteria for BEVs.
Electric vehicles are coming, and we are on the right track regarding decarbonizing the transport sector, though more actions need to be taken. It is an industry transformation taking place at unprecedented speed. It is also crossing industry borders, involving energy, infrastructure, mobility, and automotive players. While a major challenge, it represents a huge opportunity for incumbents and new players to take a leading role in creating new multi-billion industries and jobs. The key will be to couple sustainability with economic viability through innovative technology and properly guided mobility transformation. Based on its diverse mobility landscape, its focus on sustainability and its proven technology leadership, Europe could emerge as a role model for other regions globally.
Page updated
Google Sites
Report abuse