The World of Electric Vehicles | Electric vehicle Industry | Esmito Solutions

UPDATED SEP 24, 2021 - 15 MIN READ

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Electric vehicles revolutionizing the world’s transportation system

Electric vehicles revolutionizing image

The electric vehicles first came into existence since 1800s, but it is in the last decade that the demand for electric vehicles has tremendously grown all around the world. In the coming years, the trend is expected to extend further as the electric vehicles are considered the best alternative for cleantransportation system across the globe. Additionally, the efficiency of electric vehicles is much higher than the traditional ICE vehicles, thus making electric vehicles as a sustainable transport system

We are at the cusp of revolution in the automotive industry and it is believed that these growing trends and advancements in the e-mobility industry will make a huge impact on the global sales of electric vehicles. According to the International Energy Agency’s Global EV outlook 2021 report, around 3 million electric cars were sold globally and Europe took the position of largest electric vehicle market in the world. There were 10 million electric cars on the world’s roads in 2020 despite the fact that Covid-19 pandemic has negatively affected the overall automobile industry. There are a number of factors which contributes to this boom in the electric vehicle market and some of them are as follows:

Zero emission vehicles

Electric vehicles are eco-friendly as they don’t emit toxic gases and noise pollution in the atmosphere like internal combustion engine vehicles

Government initiatives

Subsides and incentives for manufacturers as well as drivers allow a faster adoption of electric vehicles and improve the growth rate in the sale of EVs globally

Reduced cost

Batteries in EVs are the most expensive part of electric vehicles. Therefore, when these batteries are produced at a mass scale and latest battery swapping technology s employed, a significant reduction could result in the overall price of EVs.

Latest technological advancement

The development in technology plays a significant role in manufacturing electric vehicles with advanced features which provide a convenient driving experience to the consumer

Increased performance

Electric vehicles are highly efficient and require less maintenance as compared to traditional ICE vehicles

Reduced health hazards

The electric vehicles makes use of electricity and negligibly impacts our health whereas traditional ICE vehicles are a major source of gaseous emissions which badly impacts our health and causes serious illness.

EV concepts & its types

The major components of electric vehicle are controller, battery and electric motor. The source of power for electric vehicles is electricity. Electric vehicle uses a large traction battery pack to power electric motor and it must be plugged into a charging station for charging purpose.

The range efficiency, battery size and performance of each electric vehicle is different form the other. Therefore, there are a variety of electric vehicles available in the market and can be categorized as follows:

Battery electric vehicles (BEV)

  • BEVs are also known as All Electric Vehicle (AEV) because in these vehicles only motor and battery is the source of actuatione solution to replace the entire traditional vehicle fleet.
  • In these kind of vehicles, electricity is stored in a large battery pack that is charged through an external source of power i.e. electricity grid. The battery pack provides power to one or more electric motor and the electric car runs.infrastructure, the acceptability of electric mobility logistics is restricted.
  • It takes maximum 8 hours for full battery charging
  • The maximum range of BEVs are upto 500 kms
  • The range of electric vehicles depend on battery capacity and the motor

Hybrid electric vehicles (HEV)

  • HEVs has ICE and an electric motor both
  • It supports regenerative braking where car’s electric battery gets a little recharge every time the driver touches the brakes and the heat produced by brakes is converted into electrical energy
  • The ICE gets energy from fuel while motor gets electricity from batteries. The wheels start running once the engine and the electric motor simultaneously rotate the transmission.
  • HEVs ensure better fuel economy

Plug-in Hybrid Electric vehicles (PHEV)

  • These type of electric vehicles are powered by internal combustion engine and a battery powered electric motor
  • The battery can be charged up with electricity by plugging into an electric vehicle charging station (EVSE)
  • PHEVs offer time and money saving because of reduced gas usage at the gas pump.

Fuel Cell electric vehicles (FCEV)

  • FCEVs employ fuel cell technology to generate the electricity. This electricity is used to run the electric vehicle. Here, the chemical energy of fuel is converted into electric energy
  • The fuel used is compressed liquid hydrogen
  • FCEVs have no emissions and are noise free

Specifications BEV HEV PHEV FCEV
Source of energy Battery Battery and ICE Battery and ICE Fuel cells
Emissions No Emissions Less than ICE vehicle Less than HEV No harmful emissions
Efficeiency Equivalent to PHEV High as compared to ICE vehicle High as compared to HEV High as compared to ICE vehicle
Range Short Long as compared to BEV Long as compared to HEV Long as compared to HEV
Fueling facility Charging stations Gas stations Gas stations, chargers Fuel stations
Concerns Limited charging stations Complex structure Complex structure Limited fuelling facility

Challenges in the adoption of EVs

While electric vehicles are getting more popular every year, there are still certain barriers that the industry faces in its mass adoption by individual and enterprise customers. A few of these challenges include:

  • The production of electric vehicles is still limited n scale as compared to ICE vehicles. Hence the manufacturing cost of electric vehicles are more than internal combustion engine vehicles.
  • Range anxiety is still a major concern for electric vehicle drivers. Range of an electric vehicle is defined as the distance that it can cover on a single charge. EV consumers always have a concern for the limited driving range of electric vehicles.
  • The pricing of an electric vehicle is not only limited with the ownership cost of the vehicle but it also includes other factors such as the cost associated with charging the electric vehicles, advanced features and technology employed to improve driver experience, expensive battery manufacturing methods, etc. All these factors contribute to inconsistent pricing of electric vehicles and make the purchasing decision difficult for consumers.
  • An electric vehicle can be charged at home garage using a special charger arrangement but it takes long charging time and the driving range is limited. On the other hand, any public charging infrastructure requires larger space and higher installation costs. In addition, for long distance trips, there is lack of charging infrastructure facilities that creates a range anxiety for EV owners. Therefore, range and charging facilities need to be sufficiently provided for the fast uptake of EVs in the global market.
  • Nowadays, a variety of charging options ranging from a slow charger to a fast charger are available for electric vehicles. With the latest developments in the EV industry, a wide variety of connector range is also available. While these advanced equipment help reduce charging time, they are quite expensive and make the cost of ownership higher. Therefore, it requires a good balance between the installation costs with the comfort of EV drivers.

Battery developments and charging infrastructure

The journey of electric vehicle batteries started with the nickel –metal hybrid batteries but because of their tendency to self-discharge in heat, they are considered outdated. With continuous research in the EV battery space, it was found that lithium ion batteries offer higher energy density, longer life-span and higher power density as compared to other battery options. Therefore, Lithium-ion batteries are mostly preferred for use in electric vehicles and its price is also coming down with the latest technology developments.
In addition, more efficient batteries are getting developed that are allowing vehicles to have higher range. To improve battery features such as longevity and density, alternative materials are getting identified for cathodes. Cobalt or nickel based material are most popular and useful alternatives for cathode in electrical vehicles today. Further many researches are being undertaken on newer battery technologies which include solid state batteries and alternate technologies for high performance operations.
The charging infrastructure for EVs is available in diverse range depending on the charging requirement, application and location. Further, the specifications and standards for EV chargers, known as Electric Vehicle Supply Equipment, also vary from one country to another, based on the type of EVs availability in that location and the characteristics of electricity grid. For a faster adoption of electric vehicles all across the globe, a systematic approach for planning, authorizing and executing of EV charging infrastructure is required.
This approach is essential for public as well as private stakeholders such as electricity distribution companies, charge point solution providers and operators, etc. that are involved in the implementation of EV charging infrastructure in different countries. These initiatives at the country level will help in promoting a consistent, reliable consumer charging and payment experience.
As electric vehicles keep becoming the way of life for millions of consumers globally, the innovation in the areas of different battery material and charging infrastructure will continue. This will keep pushing the boundaries, bringing newer and advanced technology in battery manufacturing and charging infrastructure system to accommodate consumer demands and provide a positive driving experience

Strategies for a faster adoption of EVs at a global level

Despite significant challenges, the EV trend is here to stay and there are multiple initiatives being undertaken by private and public enterprises, government, policymakers and consumers that can lead to faster adoption of electric vehicles.

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Need for awareness

Electric vehicle offers a lot of benefits for a sustainable living on earth for human beings, therefore awareness should be created among the consumers. This awareness about the green vehicles will encourage more and more consumers to adopt electric vehicles.

New and advanced charging stations

The governments in many countries are providing subsidies and tax rebates for setting up charging stations for a faster adoption of electric vehicles. It is predicted that in the coming few years, a robust charging infrastructure will be made available to facilitate ease of charging. The development initiatives are also encouraged in the EV industry to implement latest technology in electric vehicles

More efficient and lighter batteries

Batteries with higher density and lighter in weight are preferred for electric vehicles. To achieve high performance from electric vehicles different materials and anode cathode combinations are being explored to get reliable and safe operation from an electric vehicle battery

OEMs focus on electric vehicles

Many OEMs today plan to streamline their production and sales targeting only electric vehicles. The companies such as Volvo, General Motors, Volkswagen, etc. have made announcements of expansion in electric vehicles and these initiatives will lead to increase in sales of electric vehicles in the next 5-6 years. The world’s top vehicle manufacturers have made announcements to rapidly scale up the production of light electric vehicles. In the category of heavy electric vehicles, major truck manufacturers have also indicated an all-electric mobility in the coming decade

Recent trends in the EV industry

Battery swapping is an alternative to battery charging and allows easy adoption of electric vehicles in the global market by enabling fast battery replacement within no time. All electric vehicles have the battery pack which contributes to high upfront cost of electric vehicles. In battery swapping, these battery packs are owned by energy operators and these can be separated from the vehicle. Because of its enormous advantages, battery swapping technology is receiving global attention and is tried out for various EV segments including two wheelers, three wheelers, electric cars and electric buses in different parts of the World.

  • The last year sales in the segment of electric buses have shown signs of growth of e-mobility industry. China and European Union countries have shown their commitment to electrification of mobility by procuring large number of electric buses. These electric buses offers the benefits of reduced noise and pollution as compared to internal combustion engine buses, thus attracting more and more public transportation authorities for purchasing electric vehicles from a heavy electric vehicle category.

  • Indian Government and industry stakeholders are taking initiatives in adopting battery swapping ecosystem and ensures that battery swapping will emerge as a distinct part of EV charging networks in the future. In addition, various policies are formed and revised to make electric vehicles more affordable to the consumers. The faster adoption of EVs in India has also attracted a number of leading players in the e-mobility business and is resulting in investments in infrastructure around electric vehicles.

The technological advancements in the field of electric vehicles are expected to create a bright future for the electric vehicles. The factors such as fast reduction in the battery prices, longer range offering, increasing number of charging stations, negligible gaseous emissions and reduced oil import expenses are expected to boost sales in the coming years.

Therefore, it is believed that EVs are reshaping the transportation system across the globe. According to International Energy Agency’s EV Market Outlook 2021 report, it is predicted that the global sales of electric vehicles (excluding two and three wheelers) would reach 43 million by 2030. The global transportation industry is undergoing a paradigm shift with the developments in the electric vehicle industry and the trend is here to stay.


  • EV – Electric Vehicle

  • ICE – Internal Combustion Engine

  • IEA – International Energy Agency

  • BEV – Battery Electric Vehicle

  • AEV – All Electric Vehicle

  • HEV – Hybrid Electric Vehicle

  • PHEV – Plug-in Hybrid Electric Vehicle

  • FCEV – Fuel Cell Electric Vehicle

  • EVSE – Electric Vehicle Supply Equipment