E-mobility: Exploring electric vehicles’ potential chemical manufacturers

E-mobility: Exploring electric vehicles' potential for chemical manufacturers

11:32 AM, 15th November 2018
Electric vehicles
The carbon footprint and other emissions of electric vehicles are much lesser then the diesel-powered vehicles. © Ather Energy

Growing prices of conventional fuel and environmental impact of petroleum-based transport is encouraging people to search for low-cost mobility alternatives. Prominently people are exploring the use of electric vehicles (EVs).

Electric Vehicles vary from fossil fuel-powered vehicles. The electricity consumed can be generated from a wide range of sources, including fossil fuels, nuclear power and renewable sources such as tidal power, solar power and wind power or any combination of those.

The carbon footprint and other emissions of electric vehicles are much lesser than the diesel-powered vehicles. Most electric vehicles use lithium-ion batteries (Li-Ions or LIBs). Lithium-ion batteries have higher energy density, longer lifespan and higher power density than most other practical batteries.

The global electric vehicle market is said to grow at a CAGR of 22.3 percent touching $567,299.8 million by 2025, valued at $118,864.5 million in 2017, according to an Allied Market Research report. In this segment too, China is slated to be a front-runner. The country is said to be a potential hub for electric vehicles, as it has the maximum number of electric vehicle manufacturing industries. 

Joining the e-mobility scenario, different automotive companies have come up with their prototypes, working towards rolling out the vehicles soon. Recently, Harley-Davidson unveiled the production version of its first electric motorcycle, the Harley-Davidson LiveWire. The bike is scheduled to arrive next year.

Electric vehicles have caught the attention of automakers and policymakers in India as well. With the government’s push to make India a 100 percent EV nation by 2030, automotive companies are carefully pacing into the EV space.

Despite a myriad of challenges and obstacles in India, electric vehicles are steadily gaining power. Royal Enfield has taken a bold step in developing its electric bike for the Indian two-wheeler auto industry. Priced around Rs 4 lakhs to Rs 5 Lakhs, the electric bike might be launched in 2020.

Not only two-wheeler but the four-wheeler manufacturers have also started working towards electric mobility. The American giant automaker, Ford Motor acquired Spin, a dockless electric scooter sharing company based in San Francisco. This deal makes Ford, the first auto manufacturer to enter the electric scooter market. 

In providing for the future of growing e-mobility, chemical companies too have realigned themselves to provide for the same. Innovations in lightweight materials, coatings, battery materials and transportation technology are all supporting the advancing e-mobility trend. Chemicals and materials companies represent a greater share in the mobility market. Without their advances, the promise of a transportation system that is faster, cheaper, cleaner and safer than today may never be realized. 

Earlier this year, BASF partnered with Nornickel to build a battery materials production plant in Harjavalta, Finland, with €400 million investment, to serve the automotive industry.

BP Ventures has also invested $20 million in ultra-fast charging battery developer StoreDot, to develop innovative battery technology targeting electric vehicle to charge in five minutes. StoreDot has developed a lithium-ion-based battery technology which enables ultra-fast charging for the mobile and industrial markets

RELiON Battery came up with a new innovative technology that solves the problem of charging in freezing weather, while also making lithium batteries safer and more practical for low-temperature use. The new RB100-LT (a 12V 100Ah LiFePO4 battery) is the first model in their new Low-Temperature Series line of products.

Last year, Tesla completed constructing the world’s largest lithium-ion battery in Australia.

After understanding and optimising various factors, there is no doubt that electric is the future of mobility. EVs is the stepping stone towards designing an intelligent, futuristic transport infrastructure in the world. The progress in the EV industry is highly necessary in reducing the global greenhouse gas levels and also the dependency on crude oil.

The success of electric vehicles is dependent on addressing the manufacturing and infrastructure challenges. To make this effective and for citizens to benefit, the makers and suppliers have to work in tandem and design good quality, durable vehicles. And the promise of a cleaner, greener environment through electric vehicles is one thought that we cannot afford to miss.

© Worldofchemicals News

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