A Prediction On The Future Of The Electric Vehicle Industry

ABI Research issued its 2021 Trend Report this Wednesday and its conclusion is that Electric Vehicles will start making its space into the mainstream this year.

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Despite the brand's huge success, there is still a lot of time before a Tesla will be seen as a common car in someone's garage and not as a conversation piece.

The year 2021 has brought with it all the new predictions for the auto industry. At least one prominent research firm says that this year will signify the end of the beginning for EVs in the world. ABI Research issued its 2021 Trend Report this Wednesday and its conclusion is that Electric Vehicles will start making its space into the mainstream this year.

Even though Tesla is a well-known brand, its cars certainly aren't widespread. The brand was able to deliver just under 500,000 EVs in the year 2020 by its count. In comparison to this, Americans purchased over three million pickup trucks in 2019 itself. Despite the brand's huge success, there is still a lot of time before a Tesla will be seen as a common car in someone's garage and not as a conversation piece. This goes for other car manufacturers as well who are looking to sell EVs in the coming years, which includes almost all the brands.

ABI Research, which started in the year 2021, said that Electric Vehicles will start to gain momentum in the market, soon after they become more affordable and start rolling into various dealerships throughout this year. By the end of the decade, EVs may make up a quarter of all new cars that will be shipped. If the plan works out, it would be a huge shift for the whole industry.

James Hodgson, smart mobility and automotive principal analyst at ABI Research said that automakers can get confused easily between things. Buyers who are going towards EVs are the "first adopter" people, eager to find out about the latest technology first, or they are conscious about the environment. The increasing popularity of electric cars is making the move into the mainstream market and carmakers will now start providing more options. Hodgson said that it will now be on these brands to develop more innovative methods to not only provide an EV to the buyer but also show them that the EV is just as good as the petrol-powered car of the past or even better. He also added that smart charging technologies provide support for Direct Current fast charging on an occasional basis. Therefore, and battery management will be critical in giving support to mainstream consumers when they are shifting from ICEs to EV ownership.

ABI Research, however, doesn't see the rapidly growing auto buying years of the last decade coming back until the middle of the 2020s. It is a possibility that we see stagnant sales through 2024 due to the effects of the pandemic, economic conditions and also a shift to remote work environments. It is not a confirmation though those things will turn out to be this way. Noting can be said for sure as very few people had expected a worldwide pandemic this time last year, but it did happen. But, even with a lesser amount of sales happening in the EV sector, people can expect to see a lot more EVs around the city streets.

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