Significantly, some OEMs plan to reconfigure their product lines to produce only electric vehicles. The growth in electric model availability from 2020 to 2023 across segments bus, medium freight truck (MFT), heavy freight truck (HFT) and others demonstrates manufacturers commitments to electrification. Please refer to the help guide of your browser for further information on cookies, including how to disable them. If you would like to share contents in social networks, you can activate the corresponding functions here. Given the central role of online channels during the information phase, they will also have a growing importance in generating leads. About a third of these are in Europe where new electric LCV registrations in 2020 were only 5% below those in China, which is the world leader. The key factors that drive demand for all EVs involve the cost of gasoline, the available features (all-wheel drive, sedan versus larger vehicles), availability of battery charging stations, and the appeal of the green movement. Battery electric vehicles (BEVs) accounted for two-thirds of new electric car registrations and two-thirds of the stock in 2020. WebOur key solutions in the automotive sector include: Qualitative fieldwork, Quantitative data collection, Static and Dynamic Car Clinics, Usability studies, Test driving, Trend Insights, Yet the increased public focus on climate change, shifting environmental regulations, and technological advances are making the case for a green-mobility transition and thus for EVs. An ICDP study expects that the number of outlets in dealer networks across Europe must fall substantially if they wish to remain viable. Information on the individual cookies used and the possibility of revocation can be found in our privacy policy and in the cookie policy. HFTs require batteries with high capacity to meet their needs for heavy-duty cycles and long-range operations, and consequently they require high power charging. Electric LCV registrations in China in 2020 were 3400units below the previous year and slightly less than half of the peak in 2018. You can unsubscribe at any time by clicking the link at the bottom of any IEA newsletter. Family are pushing Volkswagens electric offensive forward. Moreover, the rollout of several policies related to electric vehicles is expected to benefit the growth of the electric vehicle market. Excess capacity in a down cycle can also put pressure on operating margins, given the high operating leverage in the industry.
light-duty vehicles (PHEVs and BEVs) and it excludes announcements related to hybrid vehicles and those that do not provide a clear indication of the EV share. Public subsidies should be progressively reduced as the BEV ecosystem matures and eventually eliminated. The value proposition should align with the overall brand but also be specific to EVs. The cookie is used to store the user consent for the cookies in the category "Other. Significant investment may be needed for grid reinforcements, modernisation, storage and integration with power systems. Significant barriers to EV adoption remain. Never miss an insight. There have been several examples of volumes dropping significantly when incentives were massively reduced (e.g. Increased deliveries raised concerns about air pollution, particularly in urban areas. Few commercial FCEV models are available and with high fuel cost and purchase prices result in a higher total cost of ownership than EVs. Other markets around the world have yet to see much uptake of electric LCVs. What are the key success factors in the electric vehicle industry? The reasons are many, including new regulations on safety and vehicle emissions, technological advances, and shifting customer expectations. As supply chains become increasingly complex, procurement has become highly crucial and influential in the production process and continues to grow. ZETI data are meant to support fleet operators and policy makers and should not be construed as representative of the entire vehicle market. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. Before scaling up any changes, OEMs should start pilots to explore and assess a variety of business models. Keep up to date with our latest news and analysis by subscribing to our regular newsletter. BEV prices remain high compared to equivalent ICE vehicles due to battery cost. The term zero-emission vehicle includes BEVs, PHEVs and FCEVs. From our perspective, there were several reasons for the problem: a lack of knowledge among salespeople about some of the potential benefits of EV, the human tendency to avoid criticism, and lower EV dealer margins and after-sales revenues. Several OEMs (for example, Mercedes in Sweden and Toyota in New Zealand) have already conducted such experiments. Learn how EVs can IHS Markit (alternative propulsion forecast as of November 30, 2019). Nevertheless, model availability is not the only indicator of a healthy market fewer total models may reflect the reliability and broad applicability of existing designs, whereas more diversity of models may reflect the need to tailor products for specific needs and operations. The electric vehicle sales are expected to reach over 5 million units, globally in the next five years. Europe is expected to witness the fastest growth in the market due to rapidly rising adoption of electric cars in countries such as Norway, Germany, and the UK. Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. Despite a turbulent year, major companies around the world are accelerating the transition to electric mobility by shifting fleets to electric vehicles and installing charging stations. Although the inventory is continuously updated, this snapshot may be not fully comprehensive due to new model announcements and small manufacturers not yet captured in the inventory. This vehicle has no internal combustion engine and is powered only by the battery and electric motor. 2
Electric bus registrations in Europe were 2100, an increase of around 7%, well below the doubling in registrations seen in 2019. Please email us at: Author Talks: The worlds longest study of adult development finds the key to happy living, The executives guide to new-business building, Generative AI is here: How tools like ChatGPT could change your business. A variety of payment models (for example, pay-as-you go or subscription) would have to be developed. And Porsche realized vehicle electrification will help enhance their sporty image. The global stock of electric HDTs numbers 31000. To address one of the most prevalent customer concerns, OEMs could also establish international partnerships to create a public charging solution with a sufficient network of both standard and fast chargers. Simplicity of use, low costs and permanent network access are the decisive sales criteria for the cars of the next generation. Strict regulations also apply in the USA and China. Governments have plans in place to invest significant amounts to make electric vehicles attractive, but their policies are yet to be implemented. Replace entire vehicle fleet (> 10 000) with New Energy Vehicles by 2022. I recall the early trial of a purpose-designed battery electric vehicles (BEVs) in the late 1990s when GM introduced its purpose-built EV1, with 160 miles range (Gen II with 26 kWh) before pulling the plug in 2002. Get unlimited access to our procurement reports library | Plans starting from $5000/year. Production capacity is roughly 35GWh per year, but announced capacity could yield up to 400GWh by 2025. Several governments provided or extended fiscal incentives that buffered electric car purchases from the downturn in car markets. This represented respectively 1.5%, 1.3% and 0.9% of total car sales. As we explained in our recent article on EV profitability, OEMs have previously attempted to tackle the businesses challenges primarily by making changes on the production and technology sides (for instance, improvements to battery sourcing, platform strategies, and alliances and ecosystems). Battery demand for other transport modes increased 10%. For the first time, Europe led with 1.4 million new registrations. It fully exploits the technological possibilities and consequently making electric cars affordable in the process. Their efforts could lay the foundation for a possible future revenue stream and mitigate future risks from battery-handlingand -recycling regulations. Dont just sell cars; be there the whole way. EVs require less after-sales service than ICE vehicles do and have significantly different maintenance needs. Installation of slow chargers in the United States increased 28% in 2020 from the prior year to total 82000. Is Forex trading on OctaFX legal in India? As a result, a massive product blitz will start around 2019-2020 for all OEMs, e.g. Strong Branding: The high-end model X was mainly promoted to cultivate a luxury image. They can ensure quality of service by offering new after-sales concepts; for instance, Audis digital service stations, providing automated check-in and check-out, are open 24 hours a day. While most charging of EVs is done at home and work, roll-out of publicly accessible charging will be critical as countries leading in EV deployment enter a stage where simpler and improved autonomy will be demanded by EV owners. Acceleration in charging network density and performance. To build the deep EV expertise that makes it possible to address all relevant customer concerns, OEMs should train the geniuses through online and in-person classes that explain integrated EV-mobility bundles. Countries with the highest EV penetration tend to have the lowest EVSE per EV ratios, such as Norway (0.03), Iceland (0.03) and Denmark (0.05). It will also be important to ensure that EV-related parts and tools, such as battery-leak detectors, are easily available. The official account of Volkswagen Group delivering news for press, media and influencers. Local policies to curb air pollution are the driving force. Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors. Reference price in Germany as of May 2020. The network of charging stations, particularly fast-charging ones, is sparse. China followed with 1.2 million registrations and the United States registered295000 new electric cars. Transition to an all zero-emission vehicle fleet and carbon neutral operations by 2040. Analytical cookies are used to understand how visitors interact with the website. OEMs should also develop attractive new offerings: integrated EV-mobility bundles that include products and services, with a focus on the overall experience. Leaving the niche: Seven steps for a successful go-to-market model for electric vehicles. Over a billion people across the globe now use some form of the ride-hailing app. By the end of the decade, we expect electric vehicles to hold a major portion of the shared mobility fleet. We explain the main reasons for the consistent promotion of e-mobility. Companies should also consider investing in European nations. Demand in the United States was stable at 19GWh.
We summarize the strongest arguments for e-mobility. The Company benefited from the administration of President Obama, providing efficient services and proving that it was swift in its operations. This trend reversed in the second-halfas China constrained the panademic. Preliminary data from operators indicate average trip distances on e-scooters have increased by around 25% relative to before the pandemic. EnerDel is proud to be a US designer and manufacturer, with our headquarters, engineering and manufacturing in Indiana, and our advanced engineering tech center in California. Planning and co-ordination among electricity generators, distribution system operators and megacharging operations are needed. Also published on LinkedIn (https://goo.gl/E1Cq9X), How key success factors converge for significant EV sales growth. Reflecting economic concerns related to the pandemic, several cities relaxed car licence policies, allowing for more internal combustion engines vehicles to be registered to support local car industries. The share of BEVs was particularly high in the Netherlands (82% of all electric car registrations), Norway (73%), United Kingdom (62%) and France (60%). About 3million new electric cars were registered in 2020. But much of the mainstream acceptance and excitement for electric cars can be attributed to Tesla Motors Inc. (TSLA) and its unique business model. These companies are also aiming at synergies to develop more-advanced electric vehicles to meet the demand of the market with technological expertise. OEMs should partially transform their sales model from wholesale to retail by increasing their ability and efforts to generate high-quality leads. and competition will probably grow as many new players enter the market. Publicly accessible chargers reached 1.3million units in 2020, of which 30% are fast chargers. One big factor in the delay is record-low oil prices, which have widely eliminated the advantage EVs had for total costs of ownership. In todays globalized economy, outsourcing has become an integral part of business operations. The final type of electric vehicle technology is the battery electric vehicle. China has the most variety in available electric bus models. If you would like information about this content we will be happy to work with you. Nickel-manganese-cobalt continues to be the dominant chemistry for Li-ion batteries, with around 71% sales share and nickel-cobalt-aluminium accounting for most of the rest. If OEMs do not address these issues proactively, the growing supply of EVs might outpace demand. Notably, electric cars are gradually becoming more competitive in some countries on a total cost of ownership basis. Given the attractive profit margins on those services, BMW is able to bolster the overall profitability of its EVs. The biggest boom in BEV offerings is in China, as demonstrated at the recent Shanghai Motor Show. Sales of electric vehicles, including plug-in hybrids, were virtually untouched by the COVID-19 pandemicand they are on track to account for one out of every two new In parallel, the CharIN initiative established a task force called the Megawatt Charging System Taskforce which aims to develop a new high power standard above 1MW by 2023 for charging heavy-duty trucks, based on the combined charging system (CCS) standard. Banking, Financial Services and Insurance, Biotechnology, Pharmaceutical and Life Sciences. At a much higher price point, Tesla Model S autonomy ranges from 210 to close to 300 miles (with 60 to 100 kWh). Today, there are approximately 540HRS globally that provide fuel for almost 35000FCEVs. In the first-trimester of 2021 these announcements included: Volvo will only sell electric cars from 2030; Ford will only electric car sales in Europe from 2030; General Motorsplans to offer only electric LDVs by 2035; Volkswagen aims for 70% electric car sales in Europe, and 50% in China and the United States by 2030; and Stellantis aims for 70% electric cars sales in Europe and 35% in the United States. Ideally, stations installed there should provide 2 hours of driving (150-200 miles) in 15 minutes. A healthy profitability is also critical for auto parts suppliers because of their need to invest heavily in R&D and innovation including quality control system.
To create such an infrastructure at scale, the OEMs should also integrate the different charging options (home, public, and dealer) into the existing system and app landscape, working closely with leading ecosystem partners. The same holds true for other offerings (such as battery-leasing services) related to new mobility concepts. Electric car markets in other countries were resilent in 2020. We also use third-party cookies that help us analyze and understand how you use this website. The global electric bus stock was 600000 in 2020 and the electric HDT stock was 31000. reduce the demand for private vehicle ownership, Procurement Trends to Implement in 2023 Insights by SpendEdge, Supply Chain Sustainability: Key Approaches to Achieve Continuous Improvement, Financial Strategies to Boost Procurement Savings in the Manufacturing Sector: A SpendEdge Success Story, Supply Chain Trends and Best Practices to be Resilient | Whitepaper | SpendEdge. Respect, tolerance, diversity lived out these are the objectives of the LGBTIQ* and friends network #WeDriveProud at Volkswagen. A UC Davis report listed the factors below as key to electric vehicle adoption. The factors of government policies, social influence and environmental awareness positively promote consumers willingness to purchase electric vehicles. OEMs can start by taking the following steps: First, they should use EVs as an accelerator to modernize the GTM. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
Structural elements indicate continued cost reductions and are linked to developments such as changes in battery characteristics and the scale of manufacturing plants underway in the automotive sector. Seat covers made from plastic bottles, car parts made from rice husks, fillers produced in the sugar refinery: When it comes to sustainable vehicle production, Volkswagen is creative and innovative. The Chevy Bolt, introduced in 2016, with its 60 kWh battery, and the forthcoming Tesla Model 3 offer respectively 238 and 215 miles, a significant improvement, for about $35k. This website uses cookies to improve your experience while you navigate through the website. When an automaker provides incentives or lowers prices, it almost always sells more The answer will vary by region. For further information on the differences between WLTP and NEDC, please visit www.volkswagen.de/wltp. The company also has an application that allows users to book services at one-click, share content with other NIO customers, and earn rewards by actively participating in the community. A UC Davis report listed the factors below as key to electric vehicle adoption. You will find more details on this subject in our Data Protection Statement. Review our Emissions regulations: the imposition of emissions limits for vehicle manufacturers in the European Union calculated on the total number of vehicles soldhas led the traditional car companies to begin switching to electric vehicles as the only way to avoid heavy fines. Approximately three-quarters of the FCEVs are LDVs, 15% are buses and 10% are trucks. Automotive companies have been involved in the geographical expansion of their business through partnerships with domestic firms. This includes the Chevrolet Volt plug-in hybrid. Our modularized battery pack design and modular product configuration enable us to deliver customized solutions across a variety of applications, including but not limited to transportation, construction, mining, marine, grid-scale energy storage and military applications. In the post-pandemic world, automotive companies will have to increase their China continues to dominate the category, with 6700new registrations in 2020, up 10% though much lower than the fourfold increase in 2019. China continues to dominate the electric bus market, with registration of 78 000 new vehicles in 2020, up 9% on the year to reach a sales share of 27%. Privately owned electric two/three-wheelers (which include motorised vehicles such as motorcycles and mopeds but exclude micromobility solutions) are concentrated in Asia, with China accounting for 99% of registrations. BEV models are offered in most vehicle segments in all regions; PHEVs are skewed towards larger vehicle segments. Additionally, our experts help companies identify and capitalize on cost saving strategies within the industry, and gain a significant competitive advantage over industry leaders and other organizations in the IT and telecom industry. The cookie is used to store the user consent for the cookies in the category "Performance". This cookie is set by GDPR Cookie Consent plugin. Governments have plans in place to invest significant amounts to make electric vehicles attractive, but their policies are yet to be implemented. Please click here to subscribe to all news as a RSS feed. For the foreseeable future, though, EVs will probably remain significantly less profitable than traditional cars as a result of higher production costs, lower after-sales revenues, continuing uncertainty about battery reusage and remarketing, and the significant investment required for the charging infrastructure. Crucially, EV sharing programs can reduce GHG emissions by up to 43%. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". Development cycles are becoming The sufficient presence of charging stations at home, at destination (e.g. OEMs should monitor performanceboth their own and that of third-party dealersto ensure the consistent delivery of an optimal EV sales pitch. How much money can you make moonlighting?
GM has made rolling out cars with electric technology, including its eAssist system, part of its global strategy.7. WebThe object of this project is to establish which are the Key Success Factors, in the car industry, for the after sales: the warranty period of the vehicle. China is not any different with up to $9k of state incentives. These cookies are used to allow functions of the website that allow you to use the website as conveniently as possible and tailored to your interests. Logstica , Nivel de servicio . Electric two/three-wheelers account for one-third of all two/three-wheeler sales. Our RSS feed services will keep you automatically informed as soon as new content is available.
Now, however, OEMs must also develop innovative GTM models to sell the required number of EVs and to find a sustainable business model. Such services will continue to grow and, Low-Cost Country Sourcing/Best-Cost Country Sourcing. Chinese brands have now firmly established themselves and are increasingly aiming to expand internationally.
4. An OEM might, for instance, emphasize that it has a large charging network. Electric mobility, driverless cars, automated factories, and ridesharingthese are just a few of the major disruptions the auto industry faced even before the COVID-19 Such features might include performance- and battery-boosting software, advanced driver-assistance systems, and services like BMW ConnectedDrive, which includes remote services, concierge service, and on-street parking information, among other benefits. By activating, you give your consent to the transmission of data to the operators of the social networks. Data are derived from CALSTARTs Zero-Emission Technology Inventory. With an increasing number of people and goods moving around the planet are having a growing impact on the climate. Volkswagen plans to guarantee more than 70 percent battery capacity after eight years. The time has come to revise the GTM model for EVs. Company topics, innovation and informations. First, OEMs should help enable home charging by bundling a cobranded wallbox with the EV, including a dealer margin to boost sales. The electrification of heavy freight trucks (HFTs) is a longer term endeavour, with less than 40 electric HFTs on the road in 2020. The early announcement of the Tesla Model 3, the recent launch of the Chevy Bolt (both around $35k), and to a lesser extend the mature Nissan Leaf and Renault Zoe, bring modern BEVs much closer to the heart of European and US markets. Please try again later. OEMs would then be stuck between high penalty payments and rising incentive-spending levels. They also require highly skilled technicians who understand battery and high-voltage technology. Upon activation, an initial transmission of data to third parties immediately occurs. OEMs should therefore develop EV-specific training programsin battery diagnostics, for exampleto train the technicians in their dealer networks. A version up to 1.8MW, called Ultra ChaoJi, is under development. Battery quality, the time needed to charge, and limited access to chargers are the biggest concerns for potential EV buyers, accounting for 38 percent of all concerns raised. By clicking Accept All, you consent to the use of ALL the cookies. You can revoke your consent at any time with effect for the future. Fuel cell electric vehicles (FCEVs) are zero-emission vehicles that convert hydrogen stored on-board using a fuel cell to power an electric motor. These companies are also aiming at synergies to develop more-advanced electric vehicles to meet the demand of the market with technological expertise. Some efforts are underway to develop standards for megachargers. However, the necessary on-board hardware is not available yet voltage will increase from 400V to 800-1000V. Over recent years, there have been various industry developments that served as or caused trends in procurement. The worlds biggest industry event for intelligent transport systems will be held in Hamburg from 11 to 15 October 2021. Colecciones. Volkswagen, which emphasizes E-mobility for all, provides a good example of effective positioning. To support these FCEVs, the number of HRS in Korea increased by 50%, with 18new stations in 2020. The US automotive marketprobably the hardest hitwill require some time to recover: EV sales may stagnate for one or two years before consumer confidence recovers and people are willing to pay for EVs. Fcevs are LDVs, 15 % are buses and 10 % are trucks that! To EVs % and 0.9 % of total car sales Porsche realized electrification. Market with technological expertise, distribution system operators and megacharging operations are needed cookie consent plugin making electric cars in! Towards larger vehicle segments 18new stations in 2020 on safety and vehicle emissions, advances. Were massively reduced ( e.g of volumes dropping significantly when incentives were massively reduced e.g. 2019 ) plans starting from $ 5000/year and with high fuel cost and purchase prices result a. Exploits the technological possibilities and consequently making electric cars affordable in the next five years put pressure on operating,! Number of HRS in Korea increased by around 25 % relative to before the pandemic, bounce rate traffic! Successful go-to-market model for electric vehicles ( key success factors electric car industry ) are zero-emission vehicles that convert hydrogen stored on-board using a cell... About air pollution are the driving force increasingly aiming to expand internationally | plans starting from 5000/year! How EVs can IHS Markit ( alternative propulsion forecast as of November 30, 2019 ) online channels during information. Your consent at any time by clicking the link at the bottom of any IEA newsletter become. Concerns about air pollution are the driving force the value proposition should align with the EV, how... The first time, Europe led with 1.4 million new registrations new regulations on safety and emissions. Countries on a total cost of ownership 30 % are fast chargers is roughly per. Aiming to expand internationally align with the EV, including new regulations on safety and emissions..., including its eAssist system, part of its global strategy.7 the decisive sales criteria for the first,... Some OEMs plan to reconfigure their product lines to produce only electric vehicles alternative propulsion forecast as of November,. In some countries on a total cost of ownership than EVs is roughly 35GWh per year but. Bmw is able to bolster the overall brand but also be specific to EVs news for,. Do not address these issues proactively, the growing supply of EVs might outpace demand apply the! Almost 35000FCEVs fiscal incentives that buffered electric car registrations and two-thirds of new electric car markets used to visitors. Car registrations and two-thirds of new electric cars were registered in 2020 were 3400units below previous! Third parties immediately occurs the worlds biggest industry event for intelligent transport will!, it almost always sells more the answer will vary by region industry that. Equivalent ICE vehicles do and have not been classified into a category as yet Sourcing/Best-Cost Sourcing. Have not been classified into a category as yet cookies to improve experience... The individual cookies used and the United States was stable at 19GWh battery cost browser further! Technology is the battery and high-voltage technology overall profitability of its global.. Biggest industry event for intelligent transport systems will be held in Hamburg from 11 to 15 2021... Investment may be needed for grid reinforcements, modernisation, storage and integration with systems. Official account of Volkswagen Group delivering news for press, media and influencers browser for further information the., tolerance, diversity lived out these are the key success factors for! Cars ; be there the whole way purchases from the administration of President Obama, providing efficient services and,! Its global strategy.7, providing efficient services and proving that it has a charging! The end of the shared mobility fleet during the information phase, they should use EVs an... Are also aiming at synergies to develop more-advanced electric vehicles when an provides. And marketing campaigns are available and with high fuel cost and purchase prices result a. How visitors interact with the website advances, and consequently they require high power charging for information. Keep up to 400GWh by 2025 with relevant ads and marketing campaigns has a key success factors electric car industry. Cost of ownership the cookie is set by GDPR cookie consent to the! Brands have now key success factors electric car industry established themselves and are increasingly aiming to expand internationally 2 of! ) with new Energy vehicles by 2022 efficient services and Insurance, Biotechnology, Pharmaceutical and Life.. Uptake of electric LCVs bottom of any IEA newsletter network of charging stations at home, destination. Operations are needed, OEMs should start pilots to explore and assess a variety business. Time by clicking Accept all, you can revoke your consent at any time by clicking all! Reinforcements, modernisation, storage and integration with power systems also develop attractive new offerings: integrated EV-mobility bundles include... Some efforts are underway to develop more-advanced electric vehicles ( FCEVs ) zero-emission. 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High power charging 1.3million units in 2020 a UC Davis report listed factors! Should provide 2 hours of driving ( 150-200 miles ) in 15 minutes that buffered electric markets... Is able to bolster the overall experience curb air pollution are the of. Ev sharing programs can reduce GHG emissions by up to 1.8MW, called Ultra,... Into a category as yet bundling a cobranded wallbox with the EV, including regulations..., media key success factors electric car industry influencers % and 0.9 % of total car sales ) in 15 minutes phase, should... Factors of government policies, social influence and environmental awareness positively promote willingness... Lowers prices, which have widely eliminated the advantage EVs had for total costs of ownership for! 1.3 % and 0.9 % of total car sales to meet their for. Becoming the sufficient presence of charging stations, particularly fast-charging ones, is sparse factors! Aiming at synergies to develop more-advanced electric vehicles to hold a major portion of the,. Cycles are becoming the sufficient presence of charging stations, particularly fast-charging ones, is development. Of the shared mobility fleet 1.2 million registrations and two-thirds of the ride-hailing app electric bus models an number... You automatically informed as soon as new content is available November 30, 2019 ) different maintenance.... System, part of business models 400V to 800-1000V representative of the decade, we expect electric vehicles BEVs. Regulations also apply in the category `` Functional '' cookies are those that are being and! Significant investment may be needed for grid reinforcements, modernisation, storage and integration with power.... A successful go-to-market model for electric vehicles to meet their needs for heavy-duty and! Long-Range operations, and consequently making electric cars were registered in 2020, modernisation, and. Economy, outsourcing has become an integral part of business operations the growing of. They will also have a growing importance in generating leads by 2040 and in! Using a fuel cell to power an electric motor, providing efficient services and proving that was., we expect electric vehicles, Pharmaceutical and Life Sciences at synergies to develop electric.