There are an estimated 1.4 billion cars on the road globally, and about 5.1 million of them are electric vehicles (EV). Even though only one-third of one percent of all consumer vehicles use EV technology, some of the most innovative companies in the global economy are EV manufacturers. Does the future promise fully electric semi-trucks, cars, and motorcycles? The next generation of EVs may revolutionize the world of transportation.
History of Electric Vehicles
The first whisper of EVs began in the early 1820s, when horse-drawn carriages were commonplace and the world was looking for alternative solutions to animal-powered vehicles. By the dawn of the 20th century, electric cars were extremely popular with the socialites and businessmen who could afford them. In fact, nearly one-third of all cars on the road were early EVs.
The Fritchle electric vehicle, which was the epitome of a luxury vehicle in 1912, boasted a range of over 100 miles on a single charge. It wasn't until the mass production of the gasoline-powered Ford Model T that electric vehicles fell to the wayside to make way for the more economical internal-combustion-engine vehicles (ICEVs). By the early 1930s, there were virtually no electric vehicles left on the road.
EV technology languished until the early 1970s, when gasoline prices soared to record highs and top automotive manufacturers began to explore alternative energy methods. But EVs' high costs, lack of range, and a non-existent recharging infrastructure limited consumer interest. By the early 1990s, new regulations and incentives in the U.S. made the prospect of hybrids and electric vehicles more appealing. In the early 21st century, the first modern EV models―like the GM EV1―began to appear on American roads.
Modern Electric Vehicles & Tesla’s Domination
Vehicles like the GM EV1, the Nissan Leaf, and the ubiquitous Toyota Prius paved the way for a rise in EVs.
In 2003, Martin Eberhard and Marc Tarpenning founded the Silicon Valley startup, Tesla Motors, Inc. Tesla's mission was to create luxury sports cars powered by a fully electric motor, and they became one of the first companies to prioritize EV manufacturing over ICEV. Within a decade of its inception, Tesla revolutionized the electric vehicle market. Tesla Motors, now called Tesla, Inc., controls 60% of the EV market.
Tesla established itself as the poster child for high-end electric vehicle technology, making EV technology popular among luxury vehicle and performance vehicle enthusiasts. Other top luxury automotive manufacturers like BMW and Porsche developed their own fully electric vehicles to compete as quickly as possible. As of 2019, Tesla's estimated market share across all automotive sales in the US was merely 1.5%. There's still plenty of EV growth ahead of us.
Advancements in Electric Vehicle Technology
Battery technology―the electronic systems that keep EVs working and safe―and electric motor efficiency were limiting factors that worked against EV production in the 20th century. Continuous innovations in each of these technologies, such as the invention of lithium-ion in the 1980s, paved the way for a profound rise in EV manufacturing and consumer adoption. Consumers saw an increase in:
· Travel range
· Charge capacity
· Safety ratings
· Efficiency
· Performance
· Aesthetics
· Affordability
Charging station availability—long the infrastructural bane of EV ownership—continues to grow. New materials like silicon carbide have enabled revolutions in legacy silicon technologies, showing even more promise for optimizing EV efficiency and power utilization. Other technological optimizations such as high-voltage current protection, signal isolation, and battery management technologies continually drive EV performance.
The Future of Electric Vehicles
We can expect new electric vehicles to enter the market, building on the innovations made by Tesla and other well-known EV manufacturers like BYD, BAIC, Nissan, BMW, and Volkswagen. Legislative advancements in Europe, ever-increasing demand in Asia, and an increased awareness of fossil fuels' environmental impacts will ensure that EV technology continues to grow. Here are a few industries to watch for EV innovation:
· Racing. Consumer road vehicles aren't the only ones going electric. Formula 1, the pinnacle of automotive racing, has announced a momentous leap toward full-electric motor technology. In an industry where torque and efficiency are paramount, it was only a matter of time before EV technology found a home here.
· Motorcycles. Historic motorcycle manufacturers such as Harley-Davidson and Ducati are already gearing towards a shift towards electric motorcycles, hoping to capitalize on performance advantages and carbon footprint reduction. Zero, the motorcycle world's version of Tesla, is quickly becoming known as a top motorcycle manufacturer.
· Electric Semi-trucks. The long-awaited electric semi-truck has never felt closer. Companies like Nikola, Rivian, Tesla, Daimler, and Volvo will revolutionize the road-based transportation industry. The electric semi-truck industry is the latest proving ground for technology seeking to maximize EV range, and each of those companies is trying to crack the code.
· Boating. Seafarers rejoice at the prospect of a boat that never needs to dock for fueling. Electric boats may soon arrive at a marina near you, allowing boaters to access the world's vast waters using only wind, solar power, and electric motors.
· Airplanes. Electric planes feel like the final frontier for electric vehicles. However, the very first all-electric plane certification was recently awarded to Pipistrel Aircrafts, and we're excited to see what comes next.
Conclusion: New Ways to Apply EV Technology
New electric vehicles are more powerful, affordable, safer, and reliable. Nearly every automobile manufacturer in the world is pursuing EV technology, and many other industries are looking for ways to adapt the science for their own products. The age of the modern electric vehicle has only just begun.
