July 13, 2024

10 trends shaping electric mobility in 2024

Index

Increased sales of electric vehicles (EVs)
Development of charging infrastructure
Innovations in batteries
Second life of batteries
Integration with renewable energy
Autonomous driving and electric mobility
Expansion of electric micro-mobility
Government incentive policies
Artificial intelligence
Used electric cars for sale

In a context where awareness of the impact of one's actions on the environment has increased, issues such as electric mobility become increasingly relevant.

Adopting electric vehicles does not just mean replacing gasoline cars; rather, it means changing our relationship with transportation so that cities become more sustainable with smarter infrastructure.

At Powy , we are actively engaged in this context: Powy plays a key role in promoting the transition to electric mobility by providing innovative charging infrastructure that delivers 100 percent renewable energy, thereby supporting greater adoption of battery-powered vehicles and contributing to reducing the environmental impact of transportation.

1. Increased sales of electric vehicles (EVs).

According to the International Energy Agency (Iea), as reported in the article ''The world's electric carfleet continues togrow strongly, with 2024 sales set to reach 17 million,'' the steady growth of theworld's electric car fleet continues. Specifically, 17 million sales are set to be reached in 2024; 45 percent of the cars will be sold in China, 25 percent in Europe, and 11 percent in the United States. It is expected that by 2023, nearly 1 in 3 cars in China will be electric, and nearly 1 in 5 will be electric in both the United States and the European Union.

The electric vehicle revolution seems to be embarking on a new phase of growth. The flow of investment in battery production signals that the supply chain for electric vehicles is meeting automakers' growth plans.

The data note that manufacturers have made significant efforts to adapt to governments' climate ambitions, including through imprintedfinancial investments in research and development. This is especially evident in the battery sector. Thanks to investments over the past five years, global production capacity for now is keeping pace with steadily increasing demand.

2. Development of charging infrastructure.

To support the growing popularity of electric cars, an expansion of charging infrastructure is also needed to make the use of electric cars practical and accessible. In particular, charging stations Powy are located in strategic and valuable locations.

Globally, the number of public charging points is expected to exceed 15 million by 2030, up fourfold from the nearly 4 million operating in 2023.

According to Motus-e, In Italy, there was a significant increase of 13,906 new public-use charging stations installed in 2023 compared to the previous year. By the end of 2023, the total number of public-use charging points, reached 50,678. Specifically, the region with the most charging points is Lombardy, while the region with the largest increase in the past year is Campania.

3. Innovations in batteries

Global demand for batteries continues to increase, driven by growth in sales of electric cars. The battery industry is accelerating plans to develop more cost-effective chemistries and new designs.

According to the International Energy Agency (IEA) report, the use of LFP (lithium iron phosphate) batteries has increased in recent years, providing more than 40 percent of global EV demand in 2023, more than double the share recorded in 2020. LFP batteries are made of materials that are easy to source and cheaper than traditional batteries. They have less energy density but last longer.

In addition, significant advances are being made in solid-state batteries; they promise greater range and safety than traditional lithium-ion batteries. These batteries offer greater energy storage capacity while reducing the risk of overheating and increasing overall life.

4. Second life of batteries

Battery life cycle management is crucial. Companies' investments in battery recycling technologies are increasing and are improving the life cycle sustainability of batteries, reducing the environmental impact of production and disposal. Solutions are being explored to reuse batteries, turning them into energy storage systems for homes and businesses to contribute to the circular economy. These solutions not only reduce waste, but also provide a reliable and sustainable source of energy.

5. Integration with renewable energy

Electric vehicles are becoming an integral part of energy networks, and integration with renewable energy sources, such as wind and solar, enables more efficient energy management, reducing the carbon footprint of transportation. This represents an important and crucial step toward a sustainable future.

Specifically, our charging stations Powy allow for sustainable car recharging thanks to electric charging stations that provide energy from 100 percent renewable sources.

6. Autonomous driving and electric mobility

The combination of autonomous driving and electric mobility is rapidly revolutionizing the transportation industry. Leading companies like Tesla are investing heavily in research and development to advance this front, already offering advanced autonomous driving solutions where regulations allow.

Electric vehicles not only promote environmental sustainability by reducing emissions, but also play a crucial role in reducing urbannoise pollution compared to combustion vehicles. This is critical to improving the quality of life in cities by reducing sources of stress such as traffic noise.

In addition, autonomous vehicle technology will not only optimize travel efficiency but also contribute to a more pleasant and safer driving experience, according to experts. With the ability to communicate with each other and the road infrastructure, autonomous vehicles will be able to improve traffic management, reducing congestion and, consequently, overall noise.

7. Expansion of electric micro-mobility

Micromobility is rapidly transforming urban transportation, offering innovative and sustainable solutions for short-distance travel. In recent years, electric bicycles, scooters, and scooters are growing in popularity.

According to the article 'Micromobility Trends: What's New in 2024?" by Expand My Business, recent reports predict that the global market will reach $90 billion by the end of 2024. Cities are seeing an increase in the use of electric micro-mobility, with a 30 percent increase in major urban areas. The demand for sustainable and affordable transportation is a key factor, demonstrating the importance of micro-mobility in the future of urban mobility.

8. Government incentive policies

Many governments in major markets (China, Europe, the United States) have increased their EV adoption targets and are working to develop EV supply chains, such as through policy support for vehicle and battery manufacturing and critical mineral supply chains.

These measures are essential to accelerate the transition to more sustainable mobility, they create afavorable environment for investment and growth of the electric mobility industry.

Moreover, according to International Energy Agency (IEA) forecasts, the period 2022-2023 was significant for the announcement of policies in the European Union and the United States, new CO2 standards and the Inflation Reduction Act (IRA), respectively, which are expected to have a significant impact on zero-emission road transport.

9. Artificial intelligence and electric mobility

AI has become a key element in the electric revolution, integrating into electric vehicles and charging infrastructure to lead to significant advances.

Autonomous driving systems, made more sophisticated and reliable through AI, are making autonomous mobility safer and more accessible. These advanced systems can navigate effectively in various environments and conditions, reducing the risk of accidents and improving travel efficiency.

Charging optimization is another area where AI is making a difference. With AI, we can balance the supply and demand of electricity, maximizing the efficiency of the charging process. This not only reduces energy costs, but also helps mitigate the environmental impact of e-mobility.

Intelligent fleet management is another important aspect. With AI, we can monitor the status of vehicles, plan preventive maintenance, and optimize resource utilization. This not only improves operational efficiency, but can also extend the useful life of electric vehicles.

Finally, AI can offer personalized services based on users' needs and preferences. These can include optimized routes, compatible charging stations, and real-time information, enhancing the driving experience and making it more convenient.

10. Sale of used electric cars

Sales of used electric cars are increasing. CNN reports that the automotive site Cars.com, which includes dealer listings for used and new vehicles, said searches for used EVs on its site are up 45 percent over last year .

The growth in the number of used electric cars available has also allowed for an economically paradoxical situation: even though demand for used EVs is increasing, prices are still falling .

It is a good time to buy used electric cars, on average they still cost more than used gasoline vehicles, but they cost much less than new electric cars. The price gap between used gasoline cars and used EVs is closing rapidly.

Conclusion

Electric mobility is becoming crucial to the future of transportation, and we at Powy want to be key players in this change. With our experience and commitment to innovation and sustainability, we are ready to lead this evolution.

We work daily to meet current charging needs, while also trying to anticipate future ones with integrated solutions and advanced technologies to make the use of electric vehicles more convenient. This not only improves the user experience, but also contributes to a more sustainable urban environment.

In summary, as electric mobility continues to grow as the choice for sustainable transportation, we at Powy are committed to providing the infrastructure needed to support this change. With our vision and approach, we are poised to play a central role in the mobility energy of the future.