What is the Future of Electric Vehicle Industry in 2025?

 

If you wish to build a career in the EV industry, now is the right time. The world is at the cusp of the electric car revolution, and the EV industry is offering many career opportunities. Experts believe that by 2025, the car industry will be radically different due to the shift from traditional cars to electric vehicles. According to their forecast, the global market share of electric vehicles will swell from 3% to 23% by 2025.

Renowned automakers are gradually introducing electric vehicles all over the globe. Even the luxury car manufacturer Rolls Royce is working on their first-ever electric vehicle - Silent Shadow - an electric version of Phantom.

It has been challenging for automakers to replace petrol/diesel engines with electric drives completely. They have constantly been researching how hybrid electric vehicles work, how HEV batteries are recharged, which type of motor is used in hybrid electric vehicles, etc. Hence, the development process of vehicle electrification has been slow but steady. After many electrification types and developmental technology, fully electric vehicles are now made available.

 

The Revolution in the Electric Vehicle Industry

 

Types of Vehicle Electrification

  • HEV (Hybrid electric vehicles) – Hybrid electric cars use petrol/diesel and a battery pack for electricity. They come with an electric range of a mile or two. They do improve fuel economy but are not fully sustainable solutions.

 

  • PHEV (Plug-in hybrid electric vehicle) – PHEVs have a bigger battery pack than hybrid vehicles, with 20 to 50 miles of electric range. The car automatically switches to petrol/diesel when the battery gets depleted.

 

  • BEV (Battery electric vehicle) – BEVs are fully electric vehicles that run only on batteries. The battery pack is 10-times larger than PHEVs. They do not have backup petrol/diesel engines.

 

Electric Car Sales Worldwide

  • As of 2021, approximately 6.75 million electric vehicles were sold globally.
  • By the end of 2022, the sales are expected to rise to 9.5 million. Consumers are now ready to spend their money on electric vehicles as they have made a strong mark in the market. Even the government of many countries support these sustainable electric vehicles by offering tax deductions and direct purchase incentives.
  • With more governmental support, consumer spending on EVs will increase in the coming years.

 

Challenges for the EV Industry

Although the future of electric vehicles looks bright, there are some challenges ahead due to supply chain issues. Firstly, a lot of raw material is needed at a steady rate to match the growing needs of the EV industry. However, due to increased competition, the prices of raw materials are shooting up. The cost of aluminium, steel, copper, lithium carbonate, graphite, nickel, etc., has risen worldwide. 

Additionally, because of the steady growth in the EV industry, there is also a growing requirement for a skilled workforce. Currently, there is a skill gap when it comes to designing, building and maintaining electric vehicles. There is a need for a comprehensive curriculum that can allow engineers to adapt to the changes in the industry.

 

Career Opportunities in the EV Industry

According to the Ministry of Skill Development, the EV industry will provide approximately 5 crore jobs directly or indirectly in India alone in the coming years. Top automakers like Ola Electric, Mahindra, TVS Motor, Tesla, etc., are looking to recruit automotive engineers who can constantly research and work on pressing questions like how hybrid electric vehicles work, how to stimulate hybrid electric vehicles in Simulink, etc.

Additionally, the EV industry is hybrid and multi-disciplinary in nature. For instance, the industry doesn't just need automobile engineers and mechanical engineers but also chemical engineers who can efficiently work on batteries, which is a significant aspect of electric vehicles. Hence, professionals with an intersectional approach are highly sought after.

If you are thinking of building a career in the EV industry, do not just think about how to become a mechanical engineer or a design engineer, but think multi-dimensionally. Embed learnings from different fields in your experience to gain more traction while applying for jobs in the EV industry.

 

How to Become Career Ready?

Now that you know that there is scope for a successful career in the EV industry, you must also be wondering how to prepare yourself for it. As an aspiring professional in the EV industry, you can boost your knowledge by taking up new courses like Skill-Lync's Post Graduate Program in Electric Vehicle Design and Development, Post Graduate Program in Battery Technology for Mechanical Engineers, Post Graduate Program in Automotive Desing using CATIA V5, etc. These courses will equip you to tackle the EV industry challenges with a proper balance of self-study, lab work and hands-on training.

 

Closing Thoughts

The electric vehicle industry is developing at an unprecedented speed and is constantly coming up with ways to make it more sustainable. With the decarbonisation of vehicles, many opportunities are being created for big and small industries. In the long run, it won't only be famous for its environmental viability but also for its economic and technological transformation.


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