Massive Opportunity for EV Start-ups
Aug 02, 2019 Dr David Wyatt
The electric vehicle market is growing rapidly and, as Tesla has demonstrated, the market is not restricted to the established automotive OEMs. Indeed, the automotive landscape is changing as traditional internal combustion engines are being replaced by all-electric systems, in order to meet ever more stringent on-road emission legislation.
There are very significant barriers for new start-ups looking to series-manufacture vehicles. For example, the large capital requirements to establish a production facility, as well as competing against the entrenched economies of scale enjoyed by large OEMs. However, the reluctance of the traditional manufacturers towards transitioning to EVs has left an opening for teams of highly experienced industry professionals to start from scratch and create their own vehicles.
The landscape is a challenging one, but EV start-ups can benefit from a clean slate, without the legacy of an ICE-based history hindering their efforts. The proposals presented by the likes of Sono Motors, Lightyear and Rivian are undeniably bold, suggesting new or enhanced features not currently available in the market, such as energy harvesting, level 4 autonomy, app-based ride-sharing, increased connectivity, and superior infotainment. Whether these start-ups ultimately succeed or fail to make it to full-scale production, they are pointing the way toward the automotive technologies of the future.
IDTechEx will be discussing these trends further at the upcoming electric vehicle forums.
For more information on the events, please visit - www.IDTechEx.com/Japan and www.IDTechEx.com/Korea
Top image: Wikimedia Commons, Alexander Migl