The EV ecosystem in Canada and other countries has seen rapid growth in recent years. However, it does not mean the path to growth of the EV industry is not free from obstacles. From policies to technological factors, different things influence it. Some factors cause a surge in EV adoption, whereas others are affecting the progress in the industry. So, let us discuss the factors that make a difference in the rate of adopting EVs.
Limited model selection
The electric vehicle industry is rapidly expanding, but consumers have a limited choice when they shop for EVs. Although automakers are trying to innovate more models, gasoline-powered car buyers can find more choices.
While searching for electric cars, consumers want to choose the preferred features, sizes, and body shapes. To deal with the problem, manufacturers should diversify EVs and meet consumers’ needs. Moreover, partnerships with tech companies and automakers lead to highly attractive and innovative EVs.
Charging speed of your vehicles
Although some technicians are striving to improve charging times, they are not satisfactory. On the contrary, gasoline vehicle owners can easily refuel their cars. Faster charging technologies may encourage consumers to adopt electric vehicles. But, several other factors affect the performance of the charging station.
Weather makes a difference in the charging speed. Charging stations and batteries work less efficiently if the temperature is 0 degrees Celsius. If temperatures are below -5 degrees Celsius, there will be limited chemical reactions inside the battery. Especially older batteries especially cause this charging problem. The best temperature level favorable for your EV battery is +10 degrees Celsius.
Charging infrastructure
Most countries have already taken initiatives to install fast charging stations on the highways. Some housing complexes also have Level 2 charging stations. These factors will lead to mass EV adoption. The prominent company, Tesla, has put an effort into solving problems related to road trips. Automakers want to help with charging station installation on different sites. Charging is, of course, the biggest challenge for EV owners. Most EV drivers do not like to wait a long time to charge their cars.
Power grid availability
EV adoption would increase the need for infrastructural upgrades. The power grid facilities are not the same in every region. So, it will be a potential challenge for EV owners. The grid will be upgraded based on the EV growth rate and existing grid capacity. The next-generation infrastructure will promote the development of the EV industry.
2 main factors are important for expanding the nationwide grid system to meet EV drivers’ needs. The first one is the flexible and open charging platform to provide the best charging experience. You can charge electric vehicles of any model. Another fact is the availability of smart, eco-friendly charging solutions for higher sustainability.
Electric vehicles are green in regions where people are highly dependent on clean energy. Thus, if society switches to renewable energy sources, these cars should benefit the environment. It will encourage more sales of EVs.
Public awareness
Although electric cars are highly popular, most people do not have clear information about them. Potential customers must know about the benefits offered by electric cars. If they lack knowledge about EVs, they will not adopt these cars. Automotive brands have to launch consumer education programs and create showrooms for potential customers.
Green energy usage
Early EV buyers and adopters think that going electric is the best way to save the Earth. They like to reside in areas where clean energy is easily available. Some users have also installed solar panels on the house. However, some EV adopters still depend on natural gas and coal. Nevertheless, many areas have started producing green energy to reduce the use of coal. So, potential EV buyers will be encouraged to invest in electric cars.
Autonomous cars and ride sharing
If ride sharing services and self-driving automobiles find considerable progress in the future years, it will promote EV sales. The EV platforms will embrace autonomous cars. Moreover, ride-sharing companies and fleet operators will try to reduce total costs if the initial EV purchase costs become low. Furthermore, the increasing driving range of electric cars will boost the number of sales. Most consumers want a driving range of at least 400 miles. A higher driving range will encourage more consumers to buy EVs.
If autonomous vehicles and car ride sharing services see significant adoption in the coming years, this growth should also benefit sales of EVs. Autonomous vehicles are ideally suited to be run on EV platforms and fleet operators and independent ride-sharing drivers will prefer the lower total cost of ownership once the initial purchase costs of EVs come down a bit more and a range of around 400 miles becomes the norm.
Incentives from the government
Many country-level and state governments offer incentives to EV owners. Consumers can take advantage of subsidies, rebates, and tax credits. However, tax-related incentives may be available only for EVs of some manufacturers. So, consumers in a few regions do not receive these benefits. It will have a positive and negative effect on EV sales.
Battery technology
Lithium-ion batteries have become highly advanced, and they provide improved performance. Moreover, there are solid-state batteries with higher efficiency and charging speed. EVs with these high-end batteries provide the best experience.
Conclusion
Groundbreaking advancements in the automotive sector will make a brighter future for electric vehicles. Government initiatives, eco-friendliness, and a few other factors will encourage EV adoption throughout the country. But, the industry is still facing some challenges, which are holding back progress. Consumers must be more aware of the benefits of EVs. Furthermore, there must be a higher dependence on renewable energy sources. The integration of AI and other innovative technologies will bring improvement in the EV models. They will make the vehicles more efficient to give the best experience to consumers.