Riding the electric highway: Chicken and egg aside, tech brands need to jump on the EV bandwagon
It’s that age-old question: what came first and where dideverything begin?
Ok, it’s a somewhat tired analogy but in the case ofElectric Vehicles (EV), the chicken and egg question seems fitting to describea situation where vehicle manufacture and charging infrastructure areconstantly battling against each other.
Without one, the other cannot thrive, therefore creating astrange state of limbo where both struggle to get fully established and grow.
Awareness of EVs and their benefits is certainly on the rise. From just a decade ago, when hybrid or fully electric cars were often derided as an ‘eco’ gimmick, we have certainly come on leaps and bounds in our acceptance of the EV as a sensible — and some would even say inevitable — choice for the future.
One in ten cars sold are EVs
Areport by the Society of Motor Manufacturers and Traders (SMMT) in November2019 revealed that one in ten cars sold in the UK was electric or hybrid, withthe number of battery-powered car sales tripling.
We know the public interest is there. The increasingsensitivity around environmental issues is undoubtedly fuelling consumerdecisions in many markets, empowering them to make greener, more ecological andsustainable choices.
However, while the appetite for EVs is there, at only 10% of the market, some would argue there is still not enough justification to build the necessary infrastructure to support EVs on a large scale.
Range anxiety, i.e. the concern that EVs will run out ofpower before people can find a charging point, still remains one of the biggestbarriers to EV sales. However, manufacturers are seemingly reluctant to take EVproduction large scale until sufficient infrastructure is in place.
And back to the chicken and egg debate we go.
The tech opportunity
The bigger picture, though, is that this is not just allabout the manufacture of vehicles and development of charging equipment. Thereare so many technologies, companies and industries that can play a role in theEV story and also reap its rewards as the market continues to evolve.
For tech companies, there are opportunities to add value atevery point of the driver experience. From charging point trackers such as zapmap.com to car sharing apps such as e-car club and Evezy, new ideas are emerging all the timeto help propel the industry forward, generate consumer interest and,ultimately, increase sales.
For now, it’s still a bit of a watch and learn game in termsof how fast EV production will accelerate. But with social, economic andindustry trends all nodding towards an electric takeover by2050 at the latest, the time is definitely now for tech companies to participatein the EV revolution and join this thrilling race.