In times of uncertainty, you just might be crazy enough to consider purchasing that Tesla Model 3 you’ve been dreaming of. But what exactly does making that purchase mean?
How often do you need to charge the vehicle? How far can you go without recharging? At your destination, are there EV chargers? These just may be some of the questions you think about.
There are some startups that are working on this line of issues, known as range anxiety.
SparkCharge is creating portable, ultrafast, and modular charging stations for EVs.
Chargetrip offers smart navigation for EVs by using algorithms to alleviate charge congestion and optimize for total travel-time and travel-costs.
Weave Grid dynamically manages consumer electricity demand to optimize when to charge EVs in a region.
Allied Market Research estimates that the global electric vehicle market is projected to reach $802.81 billion by 2027, with North America making up roughly 25% of that. To say the least, EV adoption will be growing rapidly over the next decade. These problems need to be thought through and executed upon before massive EV adoption.
One of the main benefits of EV adoption is the reduction in CO2 emissions from vehicles. After considering the CO2 emissions from manufacturing, an EV’s emissions are 18% lower than a fossil-fuelled car over its lifetime. Switching to renewable energy for manufacturing would decrease overall CO2 emissions by 60%.
It is clear that the adoption of EVs is a key piece to reduce CO2 emissions to fight climate change. As more people make the transition, the need for range anxiety solutions and state incentives will drive the democratization of EV charging infrastructure.