Innovation in Electric Vehicles
It's becoming clear the future of the car is electric. Yet despite an almost continuous flow of media articles announcing new models and promises to phase out all new petrol vehicles, less than 1% of all cars on the road are purely electric. Why then, in a world fully embracing technology in other aspects of life, has it taken more than two decades to reach just a 1% market share?
The answer lies in infrastructure. Questions like 'What happens if I run out of battery?' and 'How long is it going to take to charge?' are pertinent questions for potential buyers.
This article explores the pace and scale of innovation and looks through a patent lens on the key players breaking new ground in this field. It covers the following:
- Automotive players such as Toyota, Kia and Hyundai dominate the battery technology landscape, helping to ensure fast and reliable charging options
- Induction charging technologies remain prohibitively expensive despite capability to change the way we charge
- Company to watch, WiTricity, secure additional $52 million in funding as their Induction Car Charging technology is used by key suppliers in the automotive industry
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