ELECTRIC TRANSPORT FEATURE
adoption of EV vehicles is range anxiety. To help, StoreDot is developing UFC technology that is proven to charge an EV in just five minutes. This technology enables drivers to travel over 400km on a single charge, therefore paving the way for a much greater uptake of EVs. Finding ways to drive down the cost of UFCs is
another consideration. For a long time, the price of UFC batteries added an additional substantial cost onto the production of EVs. In 2010, the cost was around $1,000 per kilowatt. But now, a decade later, it is a mere $156. And this is set to dip to below $100 over the next few years, driven by increasing competition from battery manufacturing giants from Korea and China, such as LG Chem and cATL. The next step for battery manufacturers
is to implement their batteries into EVs, which is no easy task since the car model needs to be built to both accommodate and cool the battery pack. Many manufacturers are in the process of transitioning over to electric – most notably Tesla, Porsche, Audi and Volkswagen. However, moving from conception to widespread production takes time, and the number of EV models available on the European market reflects that – with the total currently in the hundreds. With so many manufacturers and industries
involved, the importance of cross-sector partnerships is clear. StoreDot is working with its manufacturing partners, including TDK and EVE,
to help bring UFC batteries to market. It is now engaging its other investors such as BP and Daimler to ensure those batteries are compatible with both charging stations and future EV designs. Such partnerships are, however,
not unique. Other cross-sector alliances include Chakratec and Skoda, who have created a charging station solution that circumvents the problem of insufficient grid power in locations where fast charging is a must.
MAINSTREAM ADOPTION So, is mainstream adoption of electric vehicles by 2035 a feasible goal? This is especially difficult to predict with the Covid-19 crisis set to cast a long shadow over the industry. However, government pledges to enforce mainstream EV mobility should not be dismissed as impossible – they should be seized on as an opportunity to galvanise the EV industry. Governments have a major part to play by backing these pledges with the necessary funding in infrastructure and financial incentives for businesses and drivers alike. With sufficient support, such as we have seen in Norway and China, where government incentives such as reduced EV tax and investment in charging stations have boosted EV production and sales, it is indeed possible
to achieve mainstream adoption of EVs. The power grid and the availability of
high-power stations in city centres is the most pressing issue as, without a supportive and smart power grid, breakthrough innovations like UFC, especially for use on a large scale, are moot. However, every player in the EV ecosystem has a role to play – and increasingly they must work together. The technology is feasible, and with the right
industry focus it is ready to accelerate the automobile industry into electric. However, this will only be possible if we move the entire ecosystem forward together.
StoreDot
www.store-dot.com
ENERGY MANAGEMENT | AUTUMN 2020
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