Government initiatives in support of OEM’s
The National Electric Mobility Mission, planned for 2020, was launched by the Indian government in 2012 to improve national fuel safety by promoting hybrid and electric vehicles. Energy Efficiency Services Limited (EESL) procured 10,000 electric vehicles from renowned manufacturers for distribution to government departments through rental and pre-sale models. The minister is confident that India will become the top hub for the production of electric buses, cars, and two-wheelers within five years.
The central government and the states have launched programs and incentives to promote electric mobility in India, and there are rules and standards. England and France will ban the sale of fossil fuel vehicles by 2040 and Germany offers significant financial incentives to encourage consumers to buy electric vehicles. While India will benefit greatly from shifting its transport from IC motors to electric motors, the challenges are a lack of charging infrastructure, high acquisition costs, and a shortage of renewable electricity
Increasing public attention to climate change, changing environmental regulations and technological advances speak for green mobility and the transition to electric vehicles. In particular, scalable GTM models for electric vehicles can take into account new regulations, competitive influences, customer base, infrastructure, and the business case for electric vehicle profitability. But the current GTM approach needs to change, and that requires OEMs and their partners in the electric vehicle ecosystem to change.
OEM’s Responsibilities and concerns
In the short term, OEMs should concentrate on optimizing their existing dealer networks to simplify standards such as warehouse requirements. They should continue to consolidate the number of traders in order to achieve synergies, joint back-office activities, and a greater economy of scale. We “ARKO” are also facilitating towards the same goal.
The market for electric vehicles is growing rapidly, with a growth rate of 50% or more in most years since 2010. In addition, market growth was driven by increasing investments by automakers in the development of electric vehicles and falling prices for batteries. A wider range of products attracts many consumers, leading to a growing market for electric vehicles.
In terms of total vehicle sales, electric vehicles still represent a small percentage of the total market (13%). This 50% growth compared to others is not a large number, and the electric vehicle market still has a long way to go to challenge the dominance of internal combustion vehicles on the road.
On a more wheel-friendly basis, the projected greenhouse gas emissions of electric vehicles by 2030 are below the global average for vehicles with conventional internal combustion engines (ICE). Under the new policy scenario, greenhouse gas emissions from the electric vehicle fleet will reach 230 million tonnes of carbon dioxide equivalent (Mt CO 2) by 2030, offsetting 220 MT CO 2 emissions from a fleet of ICE vehicles of the same size. At the global level, battery-powered electric cars (BEVs) and plug-in hybrid electric vehicles (PHEVs) that consume electricity emit a similar amount of greenhouse gases as hybrid vehicles, but less than half of the global average greenhouse gases for ICE vehicles that consume gasoline through their life cycle.
OEM’s of premium battery electric vehicles (BEVs) was 23.5 points more satisfied with the availability of public charging than owners of mass-market BEVs, partly due to Tesla owners “higher satisfaction with Tesla’s public charging network. Satisfaction with availability and the public charging infrastructure was highest in the West (61.6 %) and the lowest in the West-North Central Region (56.3 %), which includes Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, and South Dakota.
In an environment that is showing signs of consolidation, investment and expansion of charging infrastructure are taking place in an environment with several acquisitions of utilities by large energy companies.
In this stylized model, we show that indirect network effects on both sides of the plug-in electric vehicle market lead to a feedback loop that changes the diffusion process of the new technology. Our empirical analysis is based on quarterly electric vehicle sales and charging stations in 353 metro areas between 2011 and 2013 and shows that the indirect grid effect is on the side of the electric vehicle market where demand is strong (i.e. The electric vehicle market has an indirect interdependence between the introduction of electric vehicles and investment in charging stations.
Electric vehicle technology is widely regarded as the future of passenger cars. Although the US has one of the most prominent electric vehicle companies in the world, the US is the slowest major market to adopt electric vehicle technology.
While the COVID-19 pandemic has shaken the OEM’s of the automotive industry and other sectors, electric vehicles have come into the spotlight. While Deloitte presented a forecast for the sales of electric vehicles (EV) in January 2019, the market for electric vehicles has made great progress not only in terms of sales. For the first time in 2019, the combined annual sales of batteries and plug-in hybrid electric vehicles exceeded two million vehicles for the first time in 2019. This milestone has been overshadowed by economic uncertainty, changing consumer priorities and values, and a market inventory.
OEM’s such as Toyota Motor North America (TMNA) announced that it will introduce three new electrified models this year: two BEVs and one PHEV. These new models further expand Toyota’s U.S. market leader in alternative powertrains.
Toyota Motor North America (TMNA) currently holds a 40% share of the total alternative fuels market, including a 75% share of the fuel cell market and a 64% share of hybrids and plug-ins. Electrified models will account for 40% of new car sales by 2025 and 70% by 2030.
In 2019 the Nissan Leaf Company released an improved model of the Nissan Leaf with improved features such as a larger battery, 160 kW electric motor, improved range to 363 km, and higher output of 214 horsepower. The company also announced plans to invest $685 million to double its production at its Wenzhou plant to 200,000 vehicles a year from 100,000 vehicles a year.
Due to the ongoing developments in the automotive sector, the market for electric vehicles has developed rapidly. Effective & OEM supportive government policies and support in the form of subsidies, grants, tax breaks, and other non-financial benefits in the form of car-pooling, lanes, new registrations, and increased vehicle range, improved availability of charging infrastructure, and proactive participation by automakers have driven global electric vehicle sales.
For regular updates, follow us on https://www.facebook.com/pushpak.ventures or visit www.pushpakventures.com or write to us at firstname.lastname@example.org, +91-8851585984. You can also follow us on our Facebook Page to get regular updates. Join our Facebook community to interact with Industry Experts. Download ARKO to upload your products in the e-commerce section, from https://bit.ly/3xjcRlk