Who Is The Target Market For Electric Cars
One of the best ways to understand the target market for electric cars we need to understand why some people look at an electric car as their next car instead of a conventional IC Engine car or even a hybrid car.
What motivates them to switch to an electric car when problems with electric vehicles have as yet not been fully ironed out?
When we understand this motivation, we get the following segments of the target market for electric cars:
Lets look closely at each of these market segments.
An App Cant Replace The Connection Between Your Car And Itself
The elephant in the room here is that built-in navigation is so effective because of the fact its part of the car. The cars computer has access to a wealth of data that you cant hook up to a smartphone app on a whim. In this instance its primarily battery level and power consumption.
A phone, on the other hand, can only estimate this. Some EV planning apps do give you the option to input power consumption , which can improve its calculations. But it doesnt have access to that data in real time, the same way a cars own navigation system does.
This isnt to say that we shouldnt try to get the best possible estimation in a smartphone app. Combined with some solid navigational prowess, of course. If anything, its a great place to start and that is better than nothing at all.
Who knows, maybe someday someone can figure out a way to hook a navigation app up to the cars OBD port and pull out the relevant data that way. The best OBD-II scanners can see a huge amount of information, and there are plenty of options that can transfer that information to phones via Bluetooth.
Combined with the fact EV capable OBDs can see all the battery details that are usually hidden from view, its not impossible to imagine a navigation/OBD pairing being possible.
Environmental Concern Drives Electric Vehicles Forward
Fast forward again — this time to the 1990s. In the 20 years since the long gas lines of the 1970s, interest in electric vehicles had mostly died down. But new federal and state regulations begin to change things. The passage of the 1990 Clean Air Act Amendment and the 1992 Energy Policy Act — plus new transportation emissions regulations issued by the California Air Resources Board — helped create a renewed interest in electric vehicles in the U.S.
During this time, automakers began modifying some of their popular vehicle models into electric vehicles. This meant that electric vehicles now achieved speeds and performance much closer to gasoline-powered vehicles, and many of them had a range of 60 miles.
One of the most well-known electric cars during this time was GMs EV1, a car that was heavily featured in the 2006 documentary Who Killed the Electric Car? Instead of modifying an existing vehicle, GM designed and developed the EV1 from the ground up. With a range of 80 miles and the ability to accelerate from 0 to 50 miles per hour in just seven seconds, the EV1 quickly gained a cult following. But because of high production costs, the EV1 was never commercially viable, and GM discontinued it in 2001.
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Teslas Dominance In The Electric Car Market May Soon Come To An End
With 68% of the market, Tesla dominates the electric vehicle market. Analysts believe that if GM can improve sales of electric vehicles, it will be able to take over the industry by the end of the decade. The Chinese company BYD is the worlds second largest electric car manufacturer, with a 46% market share.
Did Thomas Edison Invent The Electric Car
Around the same time, he created the worlds first hybrid electric car a vehicle that is powered by electricity and a gas engine. Thomas Edison, one of the worlds most prolific inventors, thought electric vehicles were the superior technology and worked to build a better electric vehicle battery.
Why are electric cars disappearing in America?
Better roads and discovery of cheap Texas crude oil help contribute to the decline in electric vehicles. By 1935, they have all but disappeared. Pictured here is one of the gasoline filling stations that popped up across the U.S., making gas readily available for rural Americans and leading to the rise in popularity of gas-powered vehicles.
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Will Other Truck Makers Have An Ev
Can we expect the pickup truck battle between the classic heavyweights to continue into the next generation? The answer appears to be yes, although details are murky at this point. As mentioned earlier, Ford has already confirmed that they are working on an all-electric pickup truck. The electric version of Americas best-selling truck will not be available until mid-2022 at the earliest.
It does indeed appear that there will also be an all-electric Chevrolet truck available at some point. GM recently announced that an electric Chevy pickup would go into production by the year 2025. The vehicle should benefit from being designed with GMs electric vehicle platform, which allows it to store double the electricity than the most recent Tesla Cybertruck prototype.
Ram has not announced plans for a fully-electric pickup truck, although they are certainly not opposed to the idea. A leading manufacturer like Dodge would not want to miss the boat on the wave of the future, either. There have not yet been any official announcements by Toyota for a fully-electric truck.
Finally, while this is not a product of one of the leading manufacturers, it surely does raise some eyebrows: The Atlis XT is a concept truck at the moment that is looking for investors. The aim is to produce a vehicle capable of a battery range of 500 miles that can also be charged in just 15 minutes.
Volvo Xc40 P8 Recharge
“We loved the XC40 from the get-go but had a few reservations about the powertrains. Not any more. In battery-electric guise the XC40s worthier attributes the thoughtful packaging, sense of well-being and design are augmented by a remarkable new turn of speed and handling smarts. Like the Tesla Model 3 , the XC40 P8 makes an almost irresistible case for electrification.”
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There Is Another Option
There is a type of vehicle that isnt affected by the issues facing both EVs and hydrogen cars, and has also been available for a long time. With a hybrid, you get many of the positives of EVs, but with a gas tank to back you up if charging isnt an option for whatever reason. You can even use a plug-in hybrid the same way you would use an electric vehicle. Okay, the range on a plug in isnt as impressive, but its usually more than you need for everyday use.
While some people will argue hybrids arent a zero emissions vehicles, they are a compromise, and they do make up for almost every shortcoming an electric vehicle has. From an environmental standpoint, driving a hybrid is still far better than even the most economical gas-powered cars. And there are ways to make a hybrid even greener.
Even if you dont want to keep a car on the road, biofuel could be a way to make hybrids the environmental golden child of the vehicle world. One of the shortcomings of biofuel is its reduced range compared with pure gasoline, and limits on the overall availability. A gallon of gas will move your car further than a gallon of ethanol. An average hybrid will more than balance this out.
The Rise In Ev Ranges
Thanks to improvements in battery technology, the average range of electric cars has more than doubled over the last decade, according to data from the International Energy Agency .
As of 2021, the average battery-powered EV could travel 217 miles on a single charge. It represents a 44% increase from 151 miles in 2017 and a 152% increase relative to a decade ago.
Despite the steady growth, EVs still fall short when compared to gas-powered cars. For example, in 2021, the median gas car range in the U.S. was around 413 miles nearly double what the average EV would cover.
As automakers roll out new models, electric car ranges are likely to continue increasing and could soon match those of their gas-powered counterparts. Its important to note that EV ranges can change depending on external conditions.
What Affects EV Ranges?
In theory, EV ranges depend on battery capacity and motor efficiency, but real-world results can vary based on several factors:
- Weather: At temperatures below 20 , EVs can lose around 12% of their range, rising to 41% if heating is turned on inside the vehicle.
- Operating Conditions: Thanks to regenerative braking, EVs may extend their maximum range during city driving.
- Speed: When driving at high speeds, EV motors spin faster at a less efficient rate. This may result in range loss.
On the contrary, when driven at optimal temperatures of about 70 , EVs can exceed their rated range, according to an analysis by Geotab.
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Who Makes Motors For Electric Cars
Do Tesla, GM, Subaru, and other popular car makers make their own electric motors? If not, who makes motors for electric cars?
- Three new electric motors, known as the Ultium lineup. The motor options include a 180 kW front-drive permanent magnet motor, a 255 kW rear- and front-drive permanent magnet motor, and a 62 kW all-wheel-drive assist induction motor.
- The Hummer EV, along with more electric cars in the future, which will utilize these electric motors.
- Reportedly, making these new engines as much as 50% smaller in volume and 25% more powerfulthan current EV engines
People Who Have A Short Daily Commute
Often people who switch from gas to electric cars do so because they have a short daily commute. For such people, an electric car makes perfect sense because they can charge the car overnight and have a full charge for their commute the next day.
This target market for electric cars is motivated by the convenience of not having to stop at a gas station but also by the fear of their electric car running out of battery.
This segment of the target market for electric cars will often buy an electric car for their short daily commute but still hang on to their gas-powered car for longer trips.
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The Target Market For Electric Cars: Who Buys Them And Why
Electric cars are becoming popular, as people become increasingly concerned about the environment and their carbon footprints. But this isnt the only reason people are attracted to electric cars.
While some are drawn to the environmental benefits of electric cars, others appreciate the cost savings they offer.
So, whos buying these cars? And why are they choosing electric over other types of vehicles including hybrid vehicles?
In this article, we will explore the target market for electric cars and discuss some of the reasons why people are making the switch to environmentally friendly transportation.
Google Has What It Takes To Make Ev Road Trips Better
Naturally, Googles end goal is to have all cars running Android Automotive OS, much in the same way that it will want all phones and gadgets running on some kind of Android.
Google should take its route planning tools from Android Automotive and stick them into an app everyone can access regardless of what car or phone they have: Google Maps
The odds of that happening are slim to none, especially when you have a bunch of rivals muscling in on the same space. Apple has grand plans to improve the scope of CarPlay, and further integrate it into car systems, and its unlikely that Tesla would ditch its own custom-made software in favor of Googles. The company doesnt even support regular Android Auto, for crying out loud.
Which is why Google should be working on taking its route planning tools out of Android Automotive, and sticking them into an app everyone can access regardless of what car or phone they have. So long as the range calculations are reasonably accurate, and the navigation is pure Google Maps, I will be happy. Even if that means punching in a bunch of numbers, like the estimated weight of all my passengers and my assumed average speed, before I set off.
It wouldnt be a huge surprise if Google had the pull to be able to bring all the charging networks into the fold. That could ensure all public chargers are visible in a single location. Because, right now, thats not always the case and tends to be reliant on crowdsourcing that information from drivers.
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Who Makes Electric Cars
Amid rising gasoline prices, climate change, and ever-dwindling oil reserves, more people are looking for electric cars to reduce their carbon footprint. Until recently, electric cars were hard to find, with the exception of defining brands like Tesla.
However, preserving our natural resources has become a cause embraced by automobile manufacturers and policymakers alike, and electric and hybrid vehicles have been developed by mainstream companies, from everyday driving to luxury vehicles. Most companies either have an electric vehicle, or EV, in their line, or have one coming within the next year.
Infrastructure has been a problem in the past with EVs, but that is rapidly changing as more charging stations have been built to accommodate them. This includes home installation, but also public places are increasing the number of stations available for consumers to use, from rest stops to sports stadiums. Today, there are plenty of places to charge an EVs battery, so no one should be afraid that they cant charge their electric vehicle.
The market is also becoming more competitive as automakers from around the world attempt to compete with one another in the EV market. China has several lines of EVs in fact, they had so many that the government had to step in and order consolidation efforts. Competitors from around the world, including Japan, Germany, and the United States, have answered the call with vehicles of their own, from personal cars to commercial trucks.
What Are The Top Ev Battery Suppliers
Most EVs are powered by a battery. The global EV battery market is on track to reach $84 billion in annual sales in 2025 from $23 billion in 2017. The top EV battery manufacturers are Panasonic, which supplies batteries for Teslas vehicles, LG Chem, AESC, and BYD.
Other notable EV battery suppliers are Samsung, SB LiMotive, and Skeleton Technologies. Based in Europe, Skeleton Technologies makes a super battery that recharges quickly and provides a longer driving range in EVs. Skeleton is gearing up for an IPO. There’s also Albemarle, a supplier of lithium, a major component in EV battery manufacturing.
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What Do Consumers Look For In An Electric Car
When looking for an electric car, the target market tends to consider a few key factors.
First, they want an environmentally friendly vehicle. All Battery Electric cars fall into this category as they, unlike hybrids, have no fuel engine. This is one of the reasons why people buy a Tesla.
Second, they want a car that is efficient and will save them money in the long run. Electric cars are cheaper to operate than IC Engine cars, and this is one of the main reasons people choose them. Electricity is cheaper than gasoline and electric cars need less maintenance.
Third, people look for a good charging network. One of the challenges of electric cars is range anxiety, or the fear that the car will run out of power before reaching the destination.
To combat this, many companies are investing in charging infrastructure. When considering an electric car, consumers want to be sure that there are charging stations available so they can easily recharge their car.
Finally, consumers look for an electric car that offers a sufficient range. Electric vehicle technologies have made enormous progress in recent years, and many now have ranges that are comparable to gas-powered cars.
Still, the anxiety we discussed in the previous paragraph can be a barrier for some people and they will often opt for a hybrid car, like a Toyota Prius, instead of a pure electric vehicle.
Top 10 Electric Vehicle Manufacturers That Are Leading The Way To An All
An electric car is considered a luxury item that the majority of consumers now desire to buy not only because it is better for the environment but because apart from the initial high cost of the vehicle, it is also easier on the pocket. It offers an excellent driving experience because of its innovative and cool features. All-electric vehicles , also known as battery electric vehicles, are propelled by an electric motor rather than a gasoline engine. Not only that, these electric automobiles generate no hazardous emissions and do not use conventional liquid fuels such as gasoline or diesel. They are extremely environmentally friendly and a viable alternative to non-renewable and pollution causing energy sources.
However, it will take some time and work to make electric vehicles more affordable and accessible to the average person and once the majority of the worlds population uses EVs, only then will it be a true success in terms of its stated objective, which is to be utilized as a substitute for gasoline or diesel automobiles. Governments are working steadily to make electric vehicles more viable to consumers by providing subsidies as well as charging infrastructure across countries. According to Reports and Data, the electric vehicle market size is expected to reach USD 917.70 Billion by 2028 registering a CAGR of 20.6%
General Motors Corporation
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