Overview:
The Challenges of the Electric Vehicle Industry
Over the next 10 years, the global automotive industry is expected to face one of the most significant changes in its history – the replacement of internal combustion engine (ICE) vehicles with Electric Vehicles (EVs). EVs are seeing strong year-on-year growth in Asian, American, and European markets. We expect the industry will see double-digit compound annual growth rates (CAGRs) for the next decade.
Over the medium to long term, given fading concerns over the performance of EVs (such as battery durability, driving experience, and platform buildout), growth will be driven by factors including incentives, regulations, subsidies, local advantages, and customer preferences. Likely winners will include auto suppliers with a focus on EV-specific components that have built scale in key areas and increased bargaining power; traditional OEMs that are successful in transitioning and balancing between ICE and new energy vehicles (including EVs); and new entrants that are able to scale up fast. Investors will need to be alert to these factors to identify emerging winners and losers, and actively reposition their portfolios to take advantage of these opportunities.
Growth in EVs, especially in battery electric vehicles (BEVs) will likely lead to material changes in the automotive value chain. We expect suppliers with a diverse range of product offerings and customer base, and those that focus on the EV must-have components (such as batteries and traction motors) to be more resilient than some of the original equipment manufacturers (OEMs).
Approach:
Components for EV battery and Charging station
EV battery – Boly’s focus is on accelerating EV charging deployments by providing electric power solutions across a wide range of renewable markets. We support battery manufacturers to develop the latest battery which enhances EV faster charging and more power and endurance in all conditions. We delivered different types of Terminals for battery cell modules.
Charging Station – The growth of electric vehicles and the behavior of EV drivers are increasing the demand for electric vehicle charging stations. We support charging station manufacturers by developing a cost-effective and reliable metal component for charging stations which helps them optimize operations, speeding time-to-market and maximizing revenues. It can fulfill the charging needs of electric vehicles in residential societies, offices, malls, restaurants, shops, and petrol pumps.
Achievement:
We collaborate with Electric Car companies to provide EV components to Electric Traction Motors, Transmission, Battery Pack, and Charge Port.
Future:
We plan to introduce tailored metal component sets for custom applications in the marine, on-road, off-road, and industrial segments. Besides fully electric power solutions, we attempt to help customers to develop Ultium battery technology and Hydrotec hydrogen fuel cell systems for commercial vehicles.
More about our electric car machined parts solution – Learn more
- Year:
- 2020
- Category:
- Energy storage for EV
- Client:
- Power solutions