AUGUST 2021AUTOTECHOUTLOOK.COM8IN MY OPINIONNECESSARY EVOLUTION OF ELECTRIC VEHICLES TECHNOLOGIESBy Hannes Prenn, Executive VP and CEO of Marelli Electric PowertrainHannes PrennNo one had imagined in the past years that the electric vehicles market would have grown as fast as it is today. The world is benefiting from this green transport, while several governments worldwide subsidised electric cars to boost customer interest. Despite the popularity and serviceability, the adoption of EVs has been slow-paced, and the general public is yet to accept it as a viable replacement for conventional vehicles. Several companies are actively developing solutions that will make EVs more accessible and adapting to the current trends in the automobile industry.Competitive Landscape of EV Industry and Impact of COVID-19Compared to the past few years, the EV market is highly competitive today, owing to its massive popularity. It is unsurprising that so many players now want to invest in it. To stand out from the crowd, companies are investing and innovating to develop the best technologies. I, too, believe the ideology that technology is the key to become successful. The market is evolving very fast, and players in this field need to catch up with the pace. Electrification of transportation is the prime manifestation of the fourth industrial revolution.Compounding this scenario is the Digitalisation: the combination between this and the evolution of electrification in general enabled game-changing disruptions like the continuously growing adoption of electric vehicles in our society. The COVID-19 pandemic only aggravated the situation, and companies immediately embraced digitalisation as their only option to survive in unprecedented circumstances. There have also been significant boost and developments in these technologies, owing to the demands by climate control policies and regulations by governments. One also witnessed people's attention shifting to sustainability, which has resulted in a socially responsible population that prioritises the planet. This shift was also intensified by the pandemic, as people reflected upon the current conditions prevailing around them and set environment as a priority. Though the future of electric vehicles seems promising, there are many challenges that the industry faces today, and we at Marelli, develop the solutions for several of those.
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