The transition to electric vehicles is a global phenomenon that is here to stay. With the advent of increasingly affordable models, traditional combustion engine vehicles will soon be history. In this article we will provide an overview of the current landscape and what to expect from electric mobility in the near future.
News on electric mobility in general
The adoption of electric vehicles is on the rise globally due to factors such as falling battery prices and major automakers' investment in batteries.
The battery market for these vehicles is estimated to be worth $175.11 billion by 2028. Europe is set to be the growth leader, with Asia-Pacific, led by China, leading in sales and production.
In Spain, the interest in electric mobility, already recognised as an important sustainable alternativehas gained even more traction in the wake of the covid-19 pandemic. According to an Oliver Wyman survey, 73% of Spaniards would consider buying an electric vehicle.
In fact, the market share of electric vehicles already exceeds 11.08% of the total market. Year-to-date, sales of 100% electric vehicles totalled 38,091 units, 79% more than in the same period of 2022.
The Tesla Model 3 leads sales, followed by the FIAT 500 Electric and then the Tesla Model Y, the most popular electric SUV. Other notable models include the Kia Niro, Citroën C4, MINI Cooper SE and Hyundai Kona EV, among others.
In terms of average range, it stands at 291 km. However, Spain still faces challenges in terms of charging infrastructure. As of June 2021, there were 11,847 charging points, a figure that is far below that of other European countries.
What can we expect from the future of electric mobility in Spain?
From the current state of play, it is clear that we are heading in the right direction, but there are still challenges to overcome. The main challenge is to offer affordable electric vehicles. Companies are already focused on this, and more affordable options are expected to be launched soon.
For NCPOWER, the development of more advanced batteries with longer range and lower cost is essential. Lithium-ion batteries can be the solution by offering better autonomy, shorter charging times, lower costs and improved safety.
Increasing and improving the recharging infrastructure is another key aspect. The Spanish government plays a crucial role in this area, recently accelerating the presentation of the Strategic Project for Economic Recovery and Transformation (PERTE).
Emerging technologies, such as autonomous vehicles and artificial intelligence, will play a key role in the advancement of electric mobility.
Conclusion
The need to move away from fossil fuels is a reality we all understand. Electric mobility is an answer to the climate crisis and, despite the challenges ahead, progress is promising.
Lithium batteries are becoming increasingly popular, and are key to the future and growth of the industry.
At NCPOWER we continue to work hard to develop increasingly efficient and innovative lithium batteries, which are key to the present and future of electric mobility in Spain.
