Electric cars (“EVs”) have been a focal point of interest for the automobile industry, spurred on by technology improvements and the demand produced by environmental awareness. This is especially true in cities, where pollution, traffic, and safety are important concerns today. As population and GDP development drive higher automobile ownership and vehicle kilometres travelled, mobility issues will worsen if the current quo persists. As a result, the mobility industry is unleashing a dazzling array of technologies aimed at urban roadways, including mobility-as-a-service, enhanced traffic control and parking systems, freight-sharing solutions, and novel two- and three-wheeled transportation models.

Cities are attempting to reduce private automobile use and congestion by providing more support for alternate forms of transportation, such as bicycles.However, automakers and suppliers confront numerous obstacles in developing electric vehicles with the same level of success. They are having difficulty adopting new technology while maintaining the same levels of quality and efficiency. However, automakers and suppliers confront numerous obstacles in developing electric vehicles with the same level of success. They are having difficulty adopting new technology while maintaining the same levels of quality and efficiency.

Various mandates for the development of electric vehicles have been proclaimed by countries, cities, and organisations around the world.

Traditional manufacturers are having difficulty following the trend of technology-driven market participants developing electric vehicles at more competitive price points and achieving higher performance with each new launch.

To remain competitive, automotive OEMs must recognise that they must make a fundamental shift in their approach to implementing vehicle electrification into their portfolio. This will be costly up front, but necessary if they want to remain competitive.

The EV market is going to explode in Europe, with 40 million electric vehicles projected by 2030. By 2050, one out of every two automobiles passing you on the road might be totally electric.