Tesla has gained increased popularity in the market place since their first electric Vehicle (EV) in the mid-2000s. And since this increased demand and popularity from consumers, other big manufacturers are following suit. From Renault, Nissan, Mitsubishi and BMW, the competition has grown.
The recent Energy Market Barometers conducted by Grenoble Ecole de Management (GEM) for France in December 2017 and for Germany by the Centre for European Economic Research (ZEW) in November 2017 asked experts to weigh in.
One of the first major challenges in the EV ecosystem is the question of charging – both from infrastructure but also how to alleviate the impact on electricity distribution. Experts expect that a share of about 10% of electric vehicles in the car fleet would require major investments in the low voltage grids.
The challenge would be on how to alleviate the stress that the charging of EV’s would present – experts remain divided on who could shape the market and the solutions that would work. However, they agreed that this would probably boil down to country specific factors.
Another key challenge is the ease of adoption of electric vehicles and their ability to compete against petrol and diesel alternatives. Experts agreed – improvements are mostly needed in the EV technology, specifically a decrease in the price per vehicle, and an increase in the driving range. But also an improvement in the charging infrastructure seems to be due.
What do you think the future of electric vehicles will look like? Have you considered your view point on electric vehicles and whether EVs will replace your petrol or diesel alternative?