Near Future of Electric Vehicles

Electric cars are an important invention and a green technology to eliminate carbon emissions, which are largely caused by the use of fossil fuels in transport and exacerbate the climate crisis. However, the problem of obtaining electricity from non-renewable energy sources obscures the role of electric vehicles in sustainable development. Electric cars are being designed to pioneer greener smart city applications as one of the most important sustainability measures to prevent the climate crisis from growing. On the other hand, it creates a sector that will enable economic impacts such as international trade and employment to move to different dimensions.

Today, countries such as Norway, which mostly use renewable energies, are showing promise. Norway uses almost all of its electricity from renewable sources. Therefore, environmental developments in terms of sustainability are encouraging and it is estimated that plug-in vehicles have exceeded 85% in transport. The announcements of countries such as the UK and France about their targets in this regard indicate that the transition from fossil-fueled vehicles to electric vehicles will accelerate significantly between 2030 and 2040. Developments in the market, both global and local regulatory authorities, decisions and production operations taken to accelerate the transition to electrically powered vehicles, and the regulations introduced by many countries on the subject are among the pleasing developments for the phase-out of traditional internal combustion engine (ICE) vehicles. In the infrastructure of these developments, of course, the importance of the demand on the consumer side cannot be denied. Countries alarmed by the global climate crisis have introduced regulations that encourage their citizens to develop awareness and move towards sensitive consumption. The global agenda has been on global alert for low carbon emissions. In the face of intense demand, the automotive industry focused on formulas to respond to this demand. Consumers have become aware that electric vehicles are an up-to-date formula to reduce or minimize carbon footprint and emissions. With the impact of government sanctions and lobbying activities, global awareness of the benefits of electric vehicles in transport has been reinforced.

The term e-mobility, “E-mobility” in English and “electromobility” in its plain spelling, is the general name of cars that run on electric energy. E-mobility covers all vehicles using full electric, hybrid electric and hydrogen fuel cell technology.

When we talk about e-mobility, car manufacturers and consumers come to mind, important actors at both ends of the sector. But who else is there? For example, operators of charging points for electric vehicles or public services are also listed as operators. In addition, service providers, fleet owners, charging station providers are involved in this system. On the other hand, a wide range of players, including building owners and managers, electric vehicle drivers, constitute today’s e-mobility ecosystem. Therefore, the future of e-mobility will be shaped by the developments in this ecosystem. But of course, this is not the only development factor.

Vehicle and battery manufacturers, energy providers and political authorities are competing with each other to realize the potential of e-mobility. Electric vehicle market shares are expected to grow accordingly. According to McKinsey’s research data, in the next 5 years, about 40 per cent of potential e-mobility vehicle demand in the United States and Germany, and about 40 per cent of potential car owners in China are expected to switch to electric vehicles, according to research by the International Energy Agency.

Vehicle prices are expected to fall globally in the coming years, thanks to government subsidized options, easy payment options and campaigns for accelerated production and competition in the market. The development of charging station infrastructures, which are not yet in widespread use, and transformations related to the technical regulations of roads and transport will become widespread in the near future. In addition, production developments such as the development of battery technologies and the shortening of charging times will consolidate the dominance of e-mobility in transport.