An EV-plosion awaits in 2023, and it’ll be packed with tech

An EV-plosion awaits in 2023, and it’ll be packed with tech

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2022 was the year electric vehicles became mainstream. Although not everyone has an EV, it does not make you an exception. We can confidently say that the EV industry is now thriving, thanks to policy initiatives by governments and billions in investment from automakers.

This landscape will change significantly over the next year beyond what was possible in 2022. Here are some predictions based on our best guesses.

In the first quarter, there will be a race for U.S.-built EVs

The Inflation Reduction Act The August Biden administration’s EV tax credit rules have already had a significant impact on the EV industry, as automakers try to onshore their supply chains. We expect EV sales to increase in the first quarter of this year, despite the fact that certain aspects of IRA’s EV credit rules have been delayed until March 2023.

The bill allows eligible EVs to qualify for a $7500 tax credit if they meet certain requirements, such as being built in North America or sourcing critical battery materials from the U.S. and other countries that are free trade partners. These rules were supposed to be in effect January 1, 2023. However, the Treasury Department delayed guidance on the critical material rule until March. It’s a good thing too. Automakers in 2022 had to scramble to set up factories in America, but most of the critical materials come from China. They need time (likely many years) to establish new supply chains.

This delay means that many North American-built cars will be eligible for the full refund, at most for the first three months. General Motors and Tesla will be the biggest winners, as the sales caps for the previous EV tax incentives will be lifted in the new year. Others like Nissan, Rivian, Volkswagen, and Ford have a range of NA-built electric vehicles that are ready to reap these benefits.

More EV models and more sales

In 2022, electric vehicle sales were dominated by the three models you would expect: Tesla’s Model S, Y and 3; Chevrolet’s Bolt; Ford’s Mustang Mach–E. Nearly every automaker, legacy OEM or startup, has unveiled a slew impressive EVs for 2023, ranging from the Alfa Romeo Tonale and the Indi One. However, most of them were targeted at the luxury market. We’ll be seeing more of these products in the coming year. even more new models come outThese are much more affordable.

As new factories are built, you can expect a surge in the number of EVs available on the market.McKinsey predicts Automakers from the past and EV startups alike will produce 400 new models by 2023.

All the new models will give Tesla a run for their money, predicts Tesla. Shahar Bin-Nun is the CEO of Tactile MobilityAV sensor tech company. Bin-Nun said that he expected Tesla will still be the dominant U.S. electric vehicle market in 2023, but that Ford and Hyundai would follow closely as they increase their production capacities and lineups.

We can also expect the secondhand EV market to grow in 2023. This will make it easier for those who are very wealthy to afford a zero emission vehicle.

Software-defined vehicles will take root

Every automaker has been talking up the “software-defined car” concept since 2022. It’s a concept that’s intrinsically linked to the electric car. We’ll be able to see the implications of that in 2023.

General Motors, for example, will launch Ultifi early next year, its end-to-end vehicle software platform that promises OTA software updates, cloud connectivity and vehicle-to-everything communication. Ultifi will allow drivers to purchase apps, services, and features. This is an example of how automakers are trying to personalize cars to their customers’ needs.

This personalization will likely result in an increase in subscription-based car services, according to Will White, cofounder of Mapbox, an online map provider.

White stated that there will be a high demand for convenience-based services such as in-car payments. White said that consumers will have an app with a credit card that can pay for all automotive-related costs.

The software-defined vehicle will also be able to dance with the metaverse at the back. A variety of automakers including Jaguar Land Rover and Polestar, Volvo, XPeng, and Polestar announced plans to build software defined vehicles on Nvidia’s Drive Orin system. In 2023, automakers will also rely upon Nvidia’s recently released Drive Orin system-on-a-chip. Upgraded Omniverse platformThis technology is set to revolutionize everything, from vehicle design to the automotive product cycle. Automakers will use tech like this to build digital twins of their vehicles and production facilities to simulate everything, from software upgrades to the vehicle to crash tests to factory efficiency.

We have to accept Level 2 ADAS.

We should also mention software. Automakers will invest more in Level 2 and 3 autonomous systems in 2023, which are basically very good advanced driver assistance systems. White claims that these systems will become a standard feature in high-trim vehicles.

Tesla will continue to add new features to its Autopilot software and so-called “Full Self-Driving Softwares”. Other automakers will also come out with impressive tech that will automate more of the driving tasks.

An autonomous vehicle company was founded earlier this year. Argo AI shut down After Ford and Volkswagen pulled their investments. The IP was split between the two automakers. Both stated that they were committed to pursuing near term gains like L2 or L3 systems. Rivian founder RJ Scaringe He also stated that his company will be focusing on obtaining its own ADAS.

In China, however, XPeng will roll out the G9 SUV with its XNGP SoftwareThe company calls it a “full-scenario” ADAS, which promises to automate city driving, highway driving, and parking tasks.

More investment into getting charging right

J.D. J.D. Power analysts expect the U.S. market share for EVs to increase. Next year, 12%This is an increase of 7% from today. This market share is actually closer to 20% if you limit the scope to those who actually have access to EVs.

No matter what the number, we will see millions more electric vehicles on the streets of the U.S. next yea. All of the ancillary services required to keep them running will have to be expanded.

We can expect to see investments from the government, utility, and private sectors in 2023 into charging infrastructure, energy storage, and energy transmission.

It’s not about building more EV charging stations. Although that is a very important part of the EV transition, it’s also about maintaining them. Next year, charger maintenance will be a priority. Separate J.D. A separate J.D. We predict that there will be some tech from either existing EV charger players or upstarts that can manage maintenance, servicing, and upgrades of chargers.

In the same vein, we come across startup after startup claiming that the electrical grid won’t be able handle all the electric vehicles that will be on the road in 2023. They are probably correct. We expect to see more vehicle technology connected to the grid, along with energy management infrastructure.

There were also a Few pilots in 2022Many of these were focused on V2G technology at your home. Ford’s F-150 Lightning pickup truck, is one of a few vehicles that can power your home in an outage. We believe that as more fleets become electric, we will see these pilots in commercial settings on a larger scale.

The rise of EV fleets

Many fleet operators have already begun to adopt EVs by 2022 as they seek to reduce carbon emissions. Hertz plans to purchase 65,000 Polestar vehicles and 100,000 Teslas, for example. 175,000 General Motors vehicles in the next few years to reach its goal to have 25% of its fleet electric by 2024.

These purchases will only increase in 2023 as commercial EV manufacturers get their production lines running.

For example, GM’s BrightDrop has recently been CAMI Assembly plant inaugurated Ontario is expected to produce 50,000 Zevo delivery vans in 2025. BrightDrop already has over 25,000 reservations from FedEx and DHL, who are working towards net-zero goals.

Canoo is another commercial EV company. Buy a vehicle manufacturing plant in Oklahoma City It will ramp up production of the Lifestyle Delivery Vehicle and bring those EVs on the market next year for committed customers such as NASA and Walmart.

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