Is the Electric Vehicle Market On the Verge of a Breakthrough
One Thing of the Distant Future is Nearly Upon Us: Electric Vehicle

It is estimated that around 2050, 70 percent of the world’s population will dwell, commute, and work in urban areas. World cities will witness a rapid transformation to create a sustainable living condition for the residents. And these transformations are attributed to factors such as mobility and energy, both of which will need extensive adaptation to meet the economic growth of nations.

The automotive industry is one sector that is going to witness a significant transformation. A new concept in the industry, electric vehicles or EVs is on the brink of experiencing rapid growth in both developed and developing economies. They are a great step forward as they could foster significant changes in the society by impacting the environment positively. Unlike conventional vehicles, EVs produce no harmful greenhouse gases or smelly fumes, thus improving public health and reducing ecological destruction. In addition, they have a smooth performance and help save money by cutting down on fuel and maintenance costs.

The recent years are witnessing a growing demand for electric vehicles owing to the benefits offered by them and technological advancements in the burgeoning sector. More companies are setting their foot in the space. For instance, Ather Energy, a Bengaluru-based hardware start-up recently launched the Ather 340 and Ather 450 electric scooters which went on sale in India in June 2018. The first electric two-wheelers, which had been under development for a long period, are likely to be one of the most expensive locally made electric scooters in India. The Ather 450 features a speed of 80kmph, 75km range, and accelerations of 3.9 seconds from 0-40kmph in the scooter market, fast charging, and intelligent features like parking assist. Ather 340 features a top speed of 70kmph, a range of 60km, and accelerations of 5.1 seconds from 0 to 40km in the market. Ather also has more plans for the next few years. As the company is slowly working on reaching out to various cities, it’s also developing numerous newer models.

Royal Enfield, one of the oldest motorcycle manufacturers in the world is currently working on the development of an electric motorcycle with the aim of a cleaner future. Other two-wheeler manufacturers such as Honda Motorcyle and TVS Motor Company are also looking to enter the EV market by investing in start-ups or building sub-brands.

eMotion Motors, a Coimbatore-based company recently launched their new electric motorcycle called the eMotion Surge. Developed over a period of seven years¸ the motorcycle features a stylish design, a maximum range of 100km on a single charge, a 40Ah lithium-ion battery, an extended battery pack and more. The vehicle is also said to make 28Nm of torque from its electric motors.

In January 2018, Byton, the international brand of the Future Mobility Corp launched its first electric vehicle. Called the all-electric SUV, the car features maximum distance coverage of 520 km on a single charge, 95 kWh battery pack, 4-wheel-drive dual motor, a shared lounge experience for in-car communication, entertainment and work, human-vehicle interaction including voice recognition, touch control, and much more.

The year 2017 also witnessed automakers make major EV announcements. Toyota announced its plans to make its product lineup electrified by 2025. General Motors also revealed its plans to rollout 20 new EVs by 2023. Volvo announced that all models launched after 2019 will either be hybrids or all-electric. Ford disclosed its plans of investing $4.5 billion into 13 new EVs.