Sustainable Biz Magazine A4 March 2023 - Flipbook - Page 32
Five predictions for the electric
vehicle industry in 2023
A
s the electric vehicle (EV)
market continues to
grow, and the 2030 ban
on the production of new
combustion engine cars in the UK
approaches, what can we expect to
see happen in the EV market over the
next year?
There are an estimated 620,000 pure
electric, non-hybrid cars on the road
in the UK, (224,919 new ones sold in
2022 alone), according to HeyCar. But
what can we expect from this rising
market in 2023?
Loyd Davies, Service Development
Director at ElectrAssure, outlines his
five predictions for the electric vehicle
industry in 2023.
1
MORE EVS, MORE CHARGERS,
HAPPIER CUSTOMERS
EV adoption will continue to
accelerate in 2023. It’s expected
that 1.8 million EVs will grace
Britain’s roads and 26.7% of new car
registrations will be electric ones in
2023 (according to SMMT (Society of
32
"The advancement of EV
technology will continue
in 2023. Improvements in
batteries and chargers will
continue to make EVs more
practical and affordable for
the average consumer.
Most importantly, we can
expect to see chargers get
faster, become cheaper and
more common to install"
Motor Manufacturers and Traders)).
EV usage and ownership will grow
as both consumers and businesses
begin to recognise that an EV can be
a practical, sensible, and sustainable
alternative to petrol or diesel.
The UK government has already
pledged £1.6bn of investment
through its Electric Vehicle
S USTA I N A B L E B I Z M AG AZ I N E
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Infrastructure Strategy, which
promises 300,000 chargers on public
roads by 2030 – over five times the
current number of petrol and diesel
pumps. With increasing numbers
of charging hubs being opened by
private networks such as GridServe,
Osprey, BP Pulse and Shell, as EV
ownership increases, so will the
number of chargers available to them.
MORE PRIVATE INVESTMENT
FROM LEGACY CAR
MANUFACTURERS
2
For a while now, legacy car
manufacturers have been building
their own EVs, and now some of the
most high-end electric cars available
aren’t Teslas, but Audis, MercedesBenz and Porsches.
In a further move to rival Tesla,
Mercedes-Benz has announced that
it will build its own ultra-fast rapid
charger network Mercedes Benz ultrafast charging announcement. Other
manufacturers are likely to follow.
In terms of market share and profit