We’ve certainly come a long way from the advent of the first electric vehicle more than 150 years ago. In fact, for the first time, global sales of new electric vehicles (EVs) ¬– either pure electric vehicles (BEVs), range-extended electric vehicles (REEV) or plug-in hybrid vehicles (PHEVs) – passed 1 million units. Under the current growth trajectory, EV producers could almost quadruple that achievement by 2020, moving 4.5 million units – or around 5% of the overall global light-vehicle market.
Global automakers will reportedly launch approximately 340 BEV and PHEV models in the next three years, significantly reducing supply as a barrier to further market uptake. That original equipment manufacturers, or OEMs, are paying increased attention mainly reflects tougher emissions targets, especially in China and Europe. What’s more, announcements that several countries, as well as cities around the world, intend to set end dates for the sale of diesel- and gasoline-powered vehicles are also driving change. Norway, for example, wants BEVs to account for 100% of its new-car sales by 2025, and California, France and the United Kingdom have declared they will end sales of internal combustion engines (ICEs) by 2040.
Widespread EV adoption will require more than just increased government action, greater OEM attention, rising customer acceptance and ingenious suppliers. These vehicles rely on sophisticated electric and/or traction motors, as well as some combination of off-vehicle power sources and self-contained sources such as batteries, solar panels or electric generators.
The moment is primed for near revolutionary growth. This quickly expanding industry segment represents a huge opportunity for technological development, and Avnet’s ecosystem can help you bring to life EV applications that will have your customers clamoring. Learn how you can take advantage and become a groundbreaking innovator in the automotive electrification arena, and how you can leverage our extensive resources to do it efficiently and effectively.