EV landscape 2024: Tech evolution & battery intelligence
Electronics manufacturers are working hard to build more efficient EV batteries, with drivers repeatedly citing ‘range anxiety’ as a reason for their decision not to switch to an electric vehicle.
Last week, Rho Motion revealed that North America is close to overtaking Europe, in the race to who can offer the lowest prices for electric vehicles. Rho Motion - which provides forecasts on the energy transition and development of batteries - has suggested that EV consumers in the USA will be paying less for a new EV than their European counterparts, by January 2024.
Electronics manufacturer Brill Power is on a mission to transform battery management systems and reduce the costs of batteries and sustainable technology for consumers. The company is based in Oxford, UK and was founded in 2016. Peter Freedman, Chief Commercial Officer at Brill Power, shared his thoughts on battery production exclusively with EV Magazine.
2024 Outlook: Shifting trends in EV landscape and the rise of battery intelligence
Following the Automated Vehicles Bill and the release of the UK’s inaugural EV battery strategy this month, Freedman says a stronger roadmap for EV initiatives is expected from governments across the world, in addition to the biggest manufacturers, in 2024.
“In the past few years, UK players have intensified investments to stay competitive with global markets like China and South Korea. However, inflation, combined with the surge in interest rates has led to a deceleration in the growth of EV demand, as consumers await more affordable options. Consequently, UK and European players are poised to adopt a more judicious approach to their EV investments.
“This shift is exemplified by the dwindling enthusiasm for fully autonomous vehicles, with major automakers redirecting their focus towards competitively priced Battery Electric Vehicles (BEVs). As a ripple effect, the expansion of the battery supply chain and decreasing raw material costs are expected to drive down battery pricing per kWh. Our Battery Intelligence Platform at Brill Power plays a pivotal role in intelligently managing batteries, optimising energy usage, and extending the lifespan of EV batteries.
“In the wake of narrowing margins in the race for electrification and autonomy and setbacks like those experienced by Cruise, top-tier automakers are likely to witness a squeeze on profit margins. Discounting is becoming more prevalent in the EV sector as OEM’s look to move EV stock to ensure capacity is fulfilled at manufacturing facilities. Interestingly, this situation creates an opportunity for international players such as China's BYD to fortify their presence in the UK and European markets, mirroring their success in the bus industry through well-priced offerings which leverage their scale and vertical integration throughout the battery supply chain."
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