A decade of growth for EVs will be “kickstarted” in 2021 with a quarter of new vehicles being electric by 2030, according to ABI Research.
The research firm has shown in its new white paper, 68 Technology Trends That Will Shape 2021, that the market will continue to slowly transition away from ICE vehicles, but the Covid pandemic will reduce growth – and it will take time for full-scale adoption to occur.
Analysts from the data firm identified 37 trends that would shape technology this year – and 31 others that are less likely to see significant growth, despite receiving attention.
Smart mobility analyst at the firm, James Hodgson, said the transition from niche to mainstream for EVs would be built on the introduction of low-cost models that ‘satisfy’ the mileage requirements ‘at an acceptable price point’.
He added technology and infrastructure were also critical: ““Smart charging technologies, support for occasional Direct Current (DC) fast charging, and battery management will be critical in supporting mainstream consumers in their transition from ICEs to EV ownership.”
But “business as usual” wouldn’t return to the vehicle market in 2021 – and Hodgson said that it was anticipated with the pandemic that it would not see a return to a normal market until 2024.
“For success in 2021, especially after a very challenging 2020, one must understand fundamental trends early, and take a view on those trends that are buoyed by hyperbole and those that are sure to be uncomfortable realities. Now is the time to double down on the right technology investment,” says Stuart Carlaw, Chief Research Officer at ABI Research