Industry Voices: Automakers Need To Reimagine a Decades-Old Industry
Originally published by TU-Automotive News
Opinion piece by Thomas Goetzl, vice-president and general manager, automotive and energy solutions at Keysight Technologies.
In 2021, electric car sales surpassed 6.7M worldwide. That’s a 108% increase from the previous year and a number expected to rapidly accelerate over the next decade, according to the International Energy Agency (IEA), a Paris-based intergovernmental organization that monitors the global energy sector.
By the end of this decade, the IEA projects that more than 300M electric vehicles will be on the road and account for 60% of new vehicle purchases – up from 4.6% today. While the electric vehicle marketplace has continued to grow, the recent sharp increases in oil prices further highlight this coming change.
Over the next decade, many automakers plan to transform their fleets to electric power, with some announcing goals for fully electric lineups within five years. Automakers are making products that meet evolving industry standards for safety, emissions testing, and energy efficiency. They require electric powertrain and HEV/EV solutions that address safety, regulatory and environmental issues. This significant transformation represents a seismic shift in thinking as well as operations and introduces several challenges like pressure on the power grid and a need for sustainable, environmentally friendly material.
