Market Challenges: Battery capacity issues limit the driving range of EVs

Battery capacity issues limit the driving range of EVs, hurting consumer adoption rates. High production costs also make EVs less affordable compared to gas vehicles. Developing rapid-charging infrastructure has also been difficult due to the huge investments required. Standardizing motor technologies across automakers is another challenge area that needs to be addressed.

Market Opportunities: Continuous battery improvements are extending vehicle ranges

Cost reductions from manufacturing scalability and raw material prices coming down will help price parity. Government support through regulations and subsidies are helping EV infrastructure growth. Rising environmental concerns are driving consumer sentiment for greener vehicles. New players and startups are bringing innovation that can further boost performance and power.

Electric Motors For Electric Vehicle Market Report Snapshots