Innovations in the Electric Vehicle Market

Innovations in the Electric Vehicle Market

This article is written by Intelligent Vehicle, one of the leading providers of Polestar Lease Deals in the UK.

The electric market is becoming more and more exciting by the month as well as every year. There are many reasons as to why the electrical market is progressing at a rapid pace and electric technology is becoming more and more advanced. With increasing pressure from governments around environmental responsibility and the need to find greener alternatives – this combined with other reasons is why the electric market is becoming highly innovative. A sort of space race to design and employ the latest and more affordable technologies. So read on to find out how electric vehicles are developing and what we may see in the future.

Tesla Has Pushed the Race to Develop Affordable Electric Vehicles

Tesla (especially in the earlier days of electric vehicles) were more or less the market leader – controlling a very small electric vehicle market (compared to the combustion market.) Tesla controlled the luxury market by developing the Model X which could compete with other huge names in the combustion engine market whilst also developing more affordable options. But this revealed the Achilles heel of the electric market in the early iterations of these vehicles – developing affordable electric vehicles to meet future global targets to remove combustion engine vehicles from circulation.

Manufacturers Such as Polestar, Porsche & BMW are Developing Competitors

Tesla has a number of different competitors that have emerged to rival the Model X including the Porsche Taycan, Polestar 2 & BMW i4 have also pushed the boundaries in terms of what is possible in electric technology and the premium market. One of the main aspects that has been explored with these models and other vehicles within this class is drive range as this is important for sports vehicles as well as innovations in car batteries and the motorised areas of the wheels that provide exceptional speeds without the use of powerful combustion engines of the past.

The Race for Affordable Electric Vehicles

The problem is that these luxury electric vehicles are highly expensive – and there isn’t a vast network of electrical infrastructure in countries outside of the USA and other countries are following suit. Governments and manufacturers are seeking to change this and this is also fuelled by the race to develop affordable electric vehicles. There is a range of affordable electric cars on the market such as the SEAT Mii Electric & Nissan Leaf. These entry-level budget vehicles are paving the way for more people to drive electric vehicles.

Manufacturers are Combining Technology to Innovate

There are some manufacturer groups that are actually merged (such as VW & Jaguar Land Rover) which means that they are combining their own technical innovations across ranges. Other manufacturers have also joined forces to share innovations and ‘secrets’ in the development and applications of their electric vehicle technology which has helped to push further developments forward.

Polestar Leads the Way in Terms of Innovation

Companies such as Polestar are also developing new technologies in line with other manufacturers and are challenging the innovations of other electric-only companies such as Tesla. Electric-only manufacturers seek to gain the most benefits from electric innovations which is why they are pushing for a huge amount of innovations and changes. The electric market is set to get more and more exciting – with a wide range of new features and models coming soon. We are exceptionally excited to see where the market goes in the next few years and where manufacturers will take their vehicles when the step-up occurs. With other competitors set to appear on the market – it will be interesting to see how much the sector expands – when compared to the combustion engine market.

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