EV- Future of Auto Maintenance
3 min read
Electric Vehicles (EV) are the future of Auto Maintenance. EVs have been around since the 1800s but the challenges of climate change and pollution were becoming known to humans by the 1900s. GM motors were 1st to launch the EV1 in 1996 which received quite a positive response but they believed it as an unprofitable niche of the automobile market and ended up crushing many of its cars
Audi on May 29th, 2020 announced its launch of 4 “highly efficient electric car”
- Audi e-Tron 55 Quattro
- Audi e-Tron S Sportback
- Audi e-Tron GT concept
- Audi Q4 e-Tron concept
By 2025, in future, Audi aims to have 30 electrified models on sale, with 20 of those fully electric. It also aims to reach the production of ~800,000 EV by 2025.
Audi plans to invest ~ €12B globally by 2024 to help ensure the development of EVs covering compact to a full-size class market segment. Audi has already invested €100M for setting up EV charging infrastructure in its own sites.
- Ingolstadt, Audi’s main plant expects to have 3,500 charging points
- By middle of 2022, it will equip 1 in 10 parking spaces with EV charges
- Hybrid Electric vehicle (HEV)- Battery replenishes itself via energy generate by ICE as well as regenerative braking
- Plug-in Hybrid Electric vehicle (PHEV)- powered by both gasoline and electricity
- Battery Electric vehicle (BEV)- Powered only on electricity for propulsion
- Fuel cell Electric vehicle (FCEV)- Run on compressed liquid hydrogen
Different Type of EV:
Global EV market:
- Market value in 2019- US$ 162.34B
- Market value by 2027-US$ 802.81B
- CAGR- 22.6% (2020-2027)
Asia-Pacific (AP) with the highest contribution in 2019 with US$ 84.84B, expected to reach US$ 357.81B by 2027 with a CAGR of 20.1%.
NA to reach US$ 194.20B by 2027 with CAGR of 27.5%
AP and EU collectively accounted for 74.8% share in 2019, with the EU to witness CAGR of 25.3%
India EV market:
- Sales up by 20% in 2019-20
- Total sales in FY 19-20: 1.52 lakhs Two-wheelers, 3400 cars, and 600 buses
- Total Sales in FY 18-19: 1.26 lakhs two-wheelers, 3600 cars, and 400 buses
- To grow at robust CAGR of 43.13% (2019-2030)
- Charging infrastructure to grow at CAGR of 42.38%
- EV battery market to grow at a whopping CAGR of 60.15%
SMEV Director General Sohinder Gill said, “the EV industry is taking shape and we believe that despite the COVID-19, FY20-21 will be a defining year for all the EV segments”
- With the BS6 norms becoming applicable from April 2020, the EVs in future, will become more price-competitive with conventionally fueled vehicles, thus accelerating the electric vehicle sales in the country
Even with high import duties (~40%) on fully imported commercials EV, Audi plans to go ahead to bring its electric SUV e-Tron to India.
With a negative impact on the automobile industry due to lockdown, Luxury car, Audi saw an over 30% de-growth in sales in Q1 2020. Dhillon, Head Audi India, says “the luxury car segment will remain muted for some time before growth begins”
Audi during the lockdown, offered complimentary disinfection and general check-up of the vehicles for the customers who are in the frontline in fighting the coronavirus pandemic. Also, Audi donated €5M globally to help governments and health sectors to fight against coronavirus crisis.
With Audi’s heavy investment planning in EV, will it able to dominate “The Luxury” vehicle EV segment?
