In 2023, the electric vehicle industry experienced an exponential amount of growth. With the expansion of charging infrastructure and the hope of more widespread EV adoption, these advancements in technology and innovation continue to reshape the automotive industry as a whole. Let’s look back and explore the 5 electric vehicle breakthroughs of 2023.
1. EV Sales Continue to Grow
One of the most noteworthy breakthroughs of the EV industry in 2023 was the growth of the global EV market. In the United States alone, more than 1.4 million electric vehicles were sold. According to the Department of Energy (DOE), EV sales have more than quadrupled since President Biden took office. EV sales saw a 50% increase just in 2023, and it was the first time that many EVs had ever been sold in the U.S. China is still leading the global EV market, but Europe and the U.S. are close behind. While some reports signaled that EV sales were down, this slight stalling in sales had little effect on the year’s overall sales reports.
2. Sustainable EV Manufacturing Practices
Currently, exhaust emissions from cars and other vehicles account for nearly 75% of total mobile emissions worldwide. While the transition to electric vehicles is ideal in many aspects, it still poses a number of challenges. There are environmental ramifications associated with EV batteries, and new policies are being implemented to ensure the transition to EVs is truly sustainable. With the Inflation Reduction Act (IRA) in the U.S., tax credits are being offered to increase battery recycling and recycling infrastructure. This is just one of many practices that are being introduced to make manufacturing more sustainable.
3. Bidirectional Charging and V2G Integration
Vehicle-to-grid (V2G) technology gained prominence in 2023. This technology impacts EVs’ ability to contribute to grid stability, which in short, is a system where EVs can provide bi-directional charging. For example, if an EV is charging, it can return power to the grid, which helps balance the supply and demand for electricity, especially during peak hours. Because an EV has such a large battery, the V2G technology can allow the battery to potentially function as a generator or store electricity to reduce costs. There are three different types of bidirectional charging:
- Vehicle-to-grid (V2G): EV energy supports the electrical grid
- Vehicle-to-home (V2H): EV energy can power a home or business
- Vehicle-to-load (V2L): EV energy can power appliances or charge another EV
Throughout 2023, V2G Integration prompted conversations about how to create a better energy grid.
4. Solid-State Battery Adoption
Automakers such as Toyota and BMW are investing in solid-state battery technology. This technology might offer smaller and lighter batteries and have the potential to provide more power to an EV. Currently, most EVs use lithium-ion batteries, and these batteries contain a component known as the electrolyte, which is in liquid form. With a solid-state battery, the electrolyte would be a solid. Solid-state batteries might be safer than their counterpart, because if a liquid electrolyte battery is broken, the liquids can mix, ultimately leading to a fire.
With major automakers investing in a solid-state battery, the EV market might experience a new wave of revolutionizing technology.
5. EV Charging Infrastructure Development
According to the Department of Energy (DOE), between 2019 and the first quarter of 2023, the number of EV charging ports had doubled from 87,352 to 161,562. The increase in charging infrastructure makes owning an EV easier by mitigating range anxiety and making EVs more practical for consumers. Even more, President Biden’s $623 million in grants to help build an EV charging network across the U.S. only further enhances the possibility of EV ownership across the country.
Electric Vehicle Growth in 2023
The breakthroughs in electric vehicles in 2023 underscore the shift towards sustainable and efficient transportation. From advancements in battery technology to the growth of the EV market, these developments emphasize the industry’s continual development. The electric vehicle landscape in 2023 has helped achieve pivotal steps towards more sustainable mobility.