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ABI Research recently conducted a survey of automotive industry leaders, including original equipment manufacturers (OEM), battery manufacturers, and charge point operators (CPOs), identifying both industry growth pains and innovative solutions. Here’s a look at some of the survey’s highlights.
There are 3 main EV adoption challenges
To increase EV adoption, the industry must make these changes:
- Improve EV charging: More than half of survey respondents reported that charging issues are the biggest barriers to EV adoption. Fifty-eight percent of respondents ranked charging reliability in their top three largest adoption barriers and 53% identified charger shortages as a major problem to overcome.
- Reduce EV prices: Lowering the price of EVs can increase adoption, according to the survey. Thirty-six percent of respondents identified EV price as the largest adoption roadblock and 80% ranked it in their top three concerns.
- Increase EVs’ driving range: More than half of respondents ranked EVs’ limited driving range among their top concerns.
Charging challenges affect all EV stakeholders
Charging issues are holding back EV adoption.
Reliability is EV customers’ biggest problem with charging infrastructure
Survey respondents identified poor charger reliability as customers’ largest issue with the U.S. public charging infrastructure. Unreliable chargers can lead to failed charging sessions and create a negative customer experience, which can harm charge point operators’ (CPOs) reputations. For more reliable charging, stakeholders need to assess the best sites for EV charging, choose equipment that meets sites’ needs, and increase reliability through better maintenance.
For example, routine preventative maintenance and rapid field services’ response can limit downtime and improve customer satisfaction. Charger management software should be used for remote infrastructure monitoring, troubleshooting, and software fixes.
Collaboration is the #1 priority for developing a reliable fast charging network
Fast EV chargers can put significant stress on the local power grid. To improve reliability and reduce site-level power outages, CPOs, station owners, and energy providers must collaborate to ensure there is enough grid capacity to support the chargers. Technology solutions, such as connected smart chargers and power distribution software, can help manage the burden that fast chargers put on the local power network, and improve asset monitoring, analysis, and optimization.
EV and battery technologies are disrupting the industry
The survey found that EV technology and battery advancements are the industry’s biggest disruptors but also the sector’s greatest decarbonization challenges. EV battery manufacturing improvements help manufacturers more sustainably produce batteries that have longer driving ranges. Changes can reduce EV battery production costs, which can lead to more affordable EVs.
For example, digitalized power management and control systems enhance energy efficiency and help prevent downtime. This can lead to lower operational costs and reduced scope 2 emissions. In addition, tracking and analyzing production data shortens the response time for addressing production issues. This can boost yield rates and limit scrap — ultimately reducing an EV manufacturer’s raw material use and contributing to more sustainable and efficient operations.
Digitalization is important to respondents
Survey participants recognize the value of digitalization. All survey respondents reported that they prioritized digitalization within at least one area of their EV operations and 61% said they prioritized digitalization in three or more areas.
Implementing IoT-enabled predictive maintenance and real-time monitoring were the top two digitalization priorities. They are the most effective approach to improving manufacturing efficiency, according to 42% of respondents.
Harnessing the data collected from IoT devices in a process management platform enhances process visibility and gives operators direct visibility of plant performance. Connected technology in manufacturing environments enable early detection of machine issues and real-time monitoring of equipment effectiveness. This allows EV battery manufacturers to predict and anticipate failures and enact corrective actions that boost efficiency in terms of quality, performance, and availability.
Read the survey’s full findings
For the EV industry growth to continue, it must make changes that overcome these hurdles, including high vehicle prices, EVs’ limited driving range, and an inconsistent charging network. Download this white paper to learn more about the automotive industry’s perspective on the challenges facing the U.S. EV industry.
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