EV Market Statistics and Forecasts for 2022 and Beyond

An electric automobile, unlike its gasoline-powered predecessor, is powered by electricity. Instead of an internal combustion engine, these automobiles utilize an electric motor, which requires a constant supply of energy from batteries. Different variety of batteries are utilized in the vehicles. Among them are lithium-ion, molten, zinc-air, salt, and various nickel-based systems. In this article, we have gathered some EV market statistics and facts.

Traditional forms of transportation harm the environment; therefore, electric automobiles were developed to replace them. Electric cars have increased in popularity as a result of multiple technological advancements.

Electric Cars Technology can be Divided into three Categories

  • battery
  • hybrid
  • plug-in hybrid

Electric vehicles are also much more expensive than gasoline-powered vehicles, even though they require oil changes.

Self-charging technologies, including regenerative braking systems and turbochargers, and a collector system that uses power from charging station installations, are used to assess electric automobiles.

Electric vehicle statistics are charged using self-charging technologies such as regenerative braking systems, turbochargers, and a collector system that utilizes electricity from charging station installations. Factors such as growing demand for fuel-efficient, high-performance, and low-emission automobiles and rigorous government pollution rules and regulations are assisting the growth of the electric vehicle industry. Furthermore, issues like high production costs, low fuel economy, and serviceability are expected to stifle the expansion of the electric vehicle industry.

The electric vehicle market is divided into three categories: type, vehicle type, and geography. There are three types of electric vehicles: battery electric vehicles statistics (BEVs), hybrid electric vehicles statistics (HEVs), and plug-in hybrid electric vehicles (PHEVs) (PHEV). It is divided into three categories: two-wheelers, passenger automobiles, and commercial vehicles. It is divided into two categories based on car price: mid-priced and luxury.

The three types of electric vehicles accessible are battery electric vehicles (BEVs), hybrid electric vehicles (HEVs), and plug-in hybrid electric vehicles (PHEVs) (PHEV). The vehicle types listed include two-wheelers, passenger autos, and commercial vehicles. Based on automobile pricing, it is separated into two categories: mid-priced and high-end.

Car buyers are increasingly interested in fuel-efficient, high-performance, low-emission vehicles. Because gasoline is a fossil fuel, it is not a long-term energy source and will run out someday. To support sustainable growth, alternative fuel sources must be discovered and utilized. This necessitates the use of electric vehicles, which do not require fuel and are more cost-efficient than regular vehicles.

A gas-powered car transfers only 17–21% of the energy stored in fuel to power the wheels. In contrast, an electric vehicle translates more than half of the electrical energy from the grid to power at the wheels. Recently increase in the price of gasoline and diesel, and there has been a surge in demand for fuel-efficient cars. This is due to the depletion of fossil fuel reserves and corporations’ drive to maximize their earnings. Because of these factors, there is a rising need for more fuel-efficient technologies, driving up demand for electric cars.

Government Laws and Standards Governing Car Emissions are Strict

In a conventional gas-powered car, power is generated by an internal combustion engine. In an ideal case, the combustion system entirely incinerates the fuel, leaving only carbon dioxide and water as waste. In actuality, the combustion system emits a range of greenhouse gases, which pollute the environment. On the other hand, an electric automobile runs on an electric motor powered by a continual supply of energy and so produces no pollution.

The United States, Germany, France, and China have all implemented strict government laws on automotive emissions, compelling automakers to use advanced technologies to combat high emission levels. The California Air Resources Board (CARB) has created a programme that includes requirements for manufacturers to make and deliver zero-emission vehicles (ZEVs), resulting in a significant rise in electric vehicle usage.

High Manufacturing Cost

Although they are more expensive than gasoline-powered vehicles, electric cars provide several benefits over traditional automobiles. This is because these automobiles haven’t yet been mass-produced and so haven’t reaped the benefits of economies of scale. Furthermore, the lack of infrastructure associated with the proliferation of electric cars has been a negative factor impeding the growth of the electric vehicle industry. As a result, the manufacture of electric vehicles demands a substantial investment, which influences the market growth.

Technological Advancements

Automakers are concentrating their efforts on creating improved electric vehicle systems that emit fewer pollutants and are less expensive. Smaller engines help satisfy the upcoming BHARAT STAGE VI pollution requirements; therefore, companies have begun designing them for vehicles. This is because they produce fewer emissions than heavier and larger engines. The compactness and cost-effectiveness of these small engines add even another layer to their value. As a result, the future development of sophisticated GDI systems offers important stakeholders a wide range of opportunities.

Electric Vehicle Battery Technology Types And Their Cost

With the old and the new, it is time to go forward. Electric vehicles (EVs) are on the rise and so are electric vehicle battery technology after a recent government decision that the sale of all new fuel and diesel automobiles would be prohibited by 2030. Since Henry Ford’s Model A was introduced in 1903, this is the most significant event to vehicles. Better for the environment.

Are you:

  • Your electric car is charging in your driveway.
  • When is the appropriate moment to make the switch?
  • Electric vehicles: still a bit of a mystery to you?

In any case, it is worth understanding how EVs function because they will play a significant role in the future of transportation. In addition to saving your money, EVs offer a smoother and more enjoyable driving experience than previous generations of automobiles. In terms of batteries and charging, far too many of us do not truly understand how electric cars function.

This means thinking about how far you can drive before you need to charge. We hope that this information may allay your worries regarding the power of the motor. In no time, you will become an expert.

In any case, it is worth understanding how EVs function because they will play a significant role in the future of transportation. In addition to saving your money, EVs offer a smoother and more enjoyable driving experience than previous generations of automobiles. In terms of batteries and charging, far too many of us do not truly understand how electric cars function.

This means thinking about how far you can drive before you need to charge. We hope that this information may allay your worries regarding the power of the motor. In no time, you will become an expert. Unlike old-fashioned batteries, it does not fit neatly under the hood of a car. Instead, it is tucked down under your feet in the bottom chassis, hidden from view.

The battery is very well secured in this compartment. Whatever the British weather may bring, it is designed to function at precisely the perfect temperature. Charging and discharging cycles govern the battery’s operation. All those cells are charged when the car is plugged in, but the power is discharged on the road.

What Kinds of Batteries do Electric Cars Use? 

Here is the nerdy tech part of the article. It will be jargon-free:

Lithium-ion Batteries

  • Lithium-ion (Li-ion) batteries are used in electric cars. Like the ones on your cell phone, they are considerably bigger and stronger.
  • No lithium metal in the batteries, just ions are used in the production of the batteries.
  • Anodes and cathodes are separated by electrolytes, which carry the ions from one electrode to the other.
  • In a nutshell, this movement (approximately) generates electricity.
  • High energy density makes Li-ion batteries ideal for acceleration.
  • You may charge and discharge them hundreds of times without deterioration.
  • In contrast to other types of batteries, EV batteries have a low self-discharge rate.
  • It is time for a chemistry class to end. Batteries for electric vehicles are still in their infancy. In the future, battery technology will improve, resulting in cheaper, smaller, lighter, and more lasting batteries.

How can Regenerative Braking help?

In essence, braking is an inefficient process. It causes a loss of energy and momentum, which slows down an automobile. In other words, an automobile needs to consume more energy to regain its previous speed. Braking is, of course, a vital element of driving. We recommend that you continue to do this.

With an electric automobile, all of the motion energy is wasted when the brakes are applied. On the other hand, electric vehicles use a motor to convert much of the kinetic energy and store it in a battery, ready for use when the car accelerates again. This is a great idea! Batteries gain the energy that would otherwise be lost during braking.

Electric Vehicle Battery Capacity Explained

An electric vehicle features a motor instead of an engine. As with the petrol tank, an electric vehicle is powered by an electric motor. The battery capacity of an electric vehicle is measured in kilowatt-hours (kWh). As an example, consider the following:

  • In other words, the Model S can drive over 400 miles on a charge.
  • For example, the 50kWh battery in an EV (such as the Corsa-e from Vauxhall) is suitable for 209 miles.
  • It may have a 35kWh battery, but it can still go 130 miles on a single charge.
  • As a general rule, the larger the kWhs, the further a car can go on a single charge. Remember, you cannot ever entirely charge or drain an EV’s battery. An ingenious way to preserve the battery, keep it functioning smoothly, and extend its life.
  • Financially, it makes sense to choose an EV with a suitable battery capacity. Buying a Jaguar i-Pace with a 292-mile range is pointless if you will use it around town. When driving long distances, acquire a car with a larger battery, or accept that you will need to top it up more regularly if you do not.

How Long do Electric Car Batteries Last? 

Batteries for electric vehicles include hundreds of cells that allow them to keep their charge after driving hundreds of thousands of kilometers. Most EV batteries now have a life expectancy of up to 20 years3 – which may even outlast the vehicle itself!

It is a good thing to know. As the technology continues to advance, so too will the battery life of electric vehicles.

How much does it Cost to Replace an EV Battery? 

In the lifespan of your automobile, you are unlikely to need to replace your car’s batteries. Be sure to verify your warranty and make sure it protects you if a battery failure before you buy one.

While prices will continue to decline, as with most new tech products, they will continue to fall as technology advances. A McKinsey research shows that the price of batteries has fallen by 80 percent since 2010. Some anticipate that by 2030, the price of a kWh may be as low as £75. The timing of the UK government’s prohibition on the sale of new petrol automobiles could not be more perfect.

What happens to Electric Car Batteries when they can no Longer Power a Car?

When a battery retires, what happens to it? If you threw it out, you would be wasting the rare resources it contains. It would also be a significant environmental hazard to dump it in a landfill due to soil contamination factors. Alternatively, batteries can be repurposed in one of two ways:

Reusing EV Batteries

It is possible to reuse an electric vehicle (EV) battery once it cannot power a vehicle.

Recycling EV Batteries

Batteries cannot be reused indefinitely, unfortunately. Eventually, they will wear out and need to be replaced. But the rare elements from which they are manufactured might still hold promise for future development. As of yet, there is not a perfect way to recycle them.

Best Electric Car Battery Manufacturers 

The EV battery industry is crowded, as you might imagine, with numerous manufacturers vying for market share. As a result, the vast majority of them are based in Asia. Top 3 selections from our top 3 picks:

  • Tesla is perhaps the most well-known of the inventors in this category.
  • Battery manufacturer LG Chem also has an important position in the battery market. We have a new deal with Tesla.
  • The biggest EV producer in China is currently selling more electric automobiles than fossil fuel vehicles.

How well do electric cars hold their value?

Some say that electric cars are the path to the future of transportation, and some argue that the market will diminish in the next couple of years. So, what is an electric car? An electric car is a car running on one or more electric motors that store electricity in their rechargeable batteries. Compared to our traditional vehicles with ICE’s (internal combustion engines), electric cars are much quieter, produce no exhaust emissions, and have near to no emissions overall.

Do Electric Cars Hold Their Value?

Depreciation alludes to the difference between the worth of a vehicle from purchase to sale. Overall, cars depreciate by somewhere between 15% and 35% in the first year. The average new vehicle loses around 60% of its worth after the initial three years. In any case, the vehicle’s depreciation relies upon mileage, condition, and brand of vehicle. Commonly, higher premium vehicles will generally hold their value for longer than standard models.

The sales of electric vehicles have been on a precarious uprise in recent years, with a 180% expansion in sales year on year. Different governments worldwide drive to boycott the sale of diesel and petroleum vehicles by 2030 has expanded the fame of electric vehicles considerably more. But this raises the question, with the rise in the sales of electric cars, do they hold their value?

When electric cars were newly introduced to the vehicle industry, their value depreciated very quickly. There was not enough demand for electric vehicles, and the supply was more than optimal. But as the car batteries have upgraded over the years, and many different brands establish their dominance in the market (such as Tesla), the demand for electric cars has risen drastically hence helping them retain their value for longer.

Premium brands that make electric vehicles hold their value for more. For instance, electric models from Mercedes and Tesla have around 65% – 60% of their worth after the initial three years or 36,000 miles. This is predominantly because owning a premium electric vehicle implies you have the extravagance and high-end quality motors but at the same time are helped by expanding super-low emission zones and fuel costs.

On the other hand, lower-end and more affordable vehicles from any semblance of Nissan, Toyota, and Smart cars are bound to depreciate more rapidly. This is something similar for diesel and petrol variations. These vehicles are more affordable since they utilize cheaper parts, which means they will probably wear more rapidly, which impacts the value of the car over the long run. Due to electric vehicles, most of the car driver’s jobs loos his jobs.

Comparison: Do Electric Cars Depreciate as Fast as Petrol/Diesel Cars?

Top-of-the-line electric vehicles produced by Tesla and Mercedes can hold their value for longer than most other electric vehicles. On average electric vehicles, don’t depreciate any quicker or slower than petroleum or diesel models. Notwithstanding, the depreciation of significant value can change. The general economy and health of the auto business are two important elements while valuing a vehicle. In any case, as the government and vehicle retailers set up incentives to expand electric car deals, you may see that electric cars hold their value for longer.

Usually, assuming you want to reduce expenses in general overall, deciding on an electric vehicle or a hybrid car might be excessively less expensive than purchasing a petrol or diesel vehicle as the running expenses of an electric vehicle are extensively less costly. With most governments encouraging people to buy electric cars, they put on incentives to increase the demand, resulting in less value depreciation over the period, which does not look suitable for petrol or diesel vehicles.

The central aspect of electric cars that really outshines traditional vehicles is that they emit nearly zero emissions, and they are eco-friendly, which benefits our environment. The crucial contrast between traditional ICE vehicles and electric vehicles has to do with the process toward changing the potential stored energy into kinetic (movement) energy. In ICE vehicles, this energy is stored in a chemical structure and is released through a chemical reaction inside the motor, which emits gasses.

On the other hand, electric cars likewise have chemically stored energy; electric vehicles discharge it electrochemically with no burning because of lithium-particle batteries. This implies that there is no fuel being scorched and, this way, no air contamination through CO2 occurring while at the same time driving. They are likewise more productive than fossil vehicles.


By and large, all things considered, electric vehicles will turn out to be more competitive in their costs and insurance in the foreseeable future, which will affect whether electric vehicles can hold their value. With the rise in electric cars, we might see depreciation increment, yet the insurances might be cheaper.

EV Cyber Security: How Secure Are Electric Vehicles?

As technology is making human life more advanced and more accessible, threats to humanity are also increasing. We need security in every perspective of life, either for the safety of our home, life, belonging, or anything important to us. With the growing advancement of IT, internet-based threats are increasing rapidly.


Cybersecurity helps to protect to deal with these cyber threats. Cybersecurity refers to safeguarding internet-connected systems, including hardware, software, and data, from cyber threats. Both organizations and individuals use the technology to prevent unauthorized access to data centers and other digital systems.

The necessity of cybersecurity continues to expand as the number of people, devices, and programs in the modern company grow, along with the rising deluge of data, most of which is sensitive or confidential. The problem is aggravated by the vast number of cyber attackers and their sophisticated attack tactics.

Automated Vehicles and Cybersecurity

Regardless of difficulties caused by COVID-19 in the automobile industry, economists expect that demand for electric vehicles will increase in 2021. In upcoming years, there will be millions of electric automobiles on the road worldwide. The auto industry has made significant progress in producing self-driving vehicles called autonomous cars, thanks to ever-improving technology. Hyundai, Tesla, and Google are the frontrunners in the development of these vehicles.

EV Security

As much as the EV sector assists in reducing the automobile industry’s overall environmental impact, there is also a growth in cybersecurity dangers. Experts say that before widely deploying electric vehicles, firms must address security concerns.

Strategies for Autonomous System Cybersecurity

Different machine learning algorithms are used for the protection of autonomous systems from cyber threats. Autonomous systems are protected by using different machine learning algorithms. Using these algorithms, the vehicle learns the pattern of the owner with time. Anything that happens against the owner’s pattern algorithm detects it and alerts the owner and demand for the user credentials.

On the other hand, some hackers have the skills to spoof user credentials and get through this first layer of defense. Experts can use deep learning and machine learning techniques to look for anomalies in data from continually growing datasets to combat this. Furthermore, vehicle-to-vehicle communication can be examined to see if the data received is “normal driving behavior” or a malicious attack.

As self-driving vehicles, drones, and automated industrial equipment become more common, cybersecurity professionals working in the autonomous machine business may anticipate confronting new obstacles.

Professionally experienced attackers can reduce the efficiency of Electric vehicles up to 50% by lowering their battery capacity and energy. The researchers looked into vulnerabilities to cyberattacks aimed at various goals, including energy efficiency and safety, and developed an architecture for next-generation power electronics systems. A few of the cybersecurity issues that can affect electronic vehicles are mentioned below:

Charging Stations

For electric vehicles, commercial charging stations will be available. Still, Electric vehicles are more vulnerable to cyberattacks than conventional internal combustion engine automobiles since they tap into the grid to charge batteries. A Hacker can use a charging station to accomplish the following tasks by rewiring charging requests and turning off charging stations.  


  • Bypass  vehicle control systems
  • Can quickly copy ID badges and use them for various transactions
  • could disable networks, range sensors, and cameras, resulting in multiple collisions
  • autonomous vehicle’s operating systems could be hacked, exposing personal information on other connected devices.
  • Can control Headlights
  • Can take the steering control
  • Can disable the brakes

Wireless Accessibility

Cybercriminals are especially interested in smartphone apps because they can use them to access electric automobiles. Hackers can also gain access to WiFi networks. Once inside, hackers can disable a vehicle’s alarm system, take control of other systems, and do whatever they want.

Control Over the Server

Hackers can target an entire fleet of automobiles vehicles using command and control servers. They can destroy a company’s fleet in various ways, including harassing customers to pay their bills and repeatedly blowing horns. The worst-case scenario is that hackers might jeopardize the safety of drivers.


The repercussions of a hacked car are severe, but there are solutions available. According to Andy Greenburg, “solving autonomous vehicles’ security flaws will require some fundamental changes to their security architecture.” It will also necessitate collaboration among automobile manufacturers, security professionals, and government organizations. As a result, a unified security architecture will be created, verified by security experts, and adhere to government guidelines. Unfortunately, security specialists are in short supply.

Most experts think there will be a shortage of roughly two million cyber professionals in the next several years. Organizations have increased their efforts to supply the pipeline with educated and highly skilled individuals who can defend vital cyberinfrastructures and information assets to address this deficit. Autonomous vehicles are on the way, and trained cyber specialists will be required to prevent and mitigate assaults and vulnerabilities in this rapidly developing technology.

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