There is no doubt that the electric vehicle (EV) manufacturing sector has been flourishing at a very fast pace. Initially, the majority of people was insecure and had doubts regarding EVs and their efficiency. This sector, indeed, faced a hard time in gaining the trust and confidence of people. But over time, the advancements that have been introduced in the EVs have eliminated all their shortcomings and have made them a very lucrative option.

Overview
The pace with which the industry is growing, the time is not far when electric vehicles will take over the automobile sector and will dominate it. In fact, by 2025, we are very likely to witness a shift from conventional to electric vehicles and this is going to have a very significant impact on the automobile industry. According to what experts say, the proportion of electric vehicles in the worldwide market is expected to rise from 3 per cent in 2015 to 25 per cent in 2025. The worth of the electric vehicle market is likely to be around at least $475 billion by 2025. The penetration of electric two-wheelers is currently 1 per cent and it is likely to reach 15 per cent by 2025.

Popular vehicle manufacturers across the world are trying their hands at making electric vehicles and launching them in the market. Rolls Royce is also manufacturing an electric version of the Phantom called the Silent Shadow. Incorporating electric motors as a replacement for conventional gasoline and diesel engine is a hard nut to crack for the automotive industry. Extensive research is being conducted to make enhancements to electric vehicles. The elements of eco-friendliness, safety, and connectivity to the internet have caused a steady rise in the number of electric vehicles in the market.

The different electrification strategies and technological advances are causing the widespread availability of completely electric vehicles.

If we talk about worldwide sales of electric vehicles, in 2021, it reached more than 6.75 million units. According to what's estimated, by the end of 2022, the sales must have increased to 9.5 million. The kind of impression that EVs have left on people, their next vehicle is most likely going to be an electric vehicle. Many countries have even gone to the extent of providing cash rebates and tax cuts to encourage the sales of electric vehicles. The increased government support is further going to help electric vehicles in making their presence more widespread.

The electric vehicle industry is undoubtedly on the path of success and growth, but that path is still full of challenges. There is an increasing demand for raw materials in this sector. The costs of raw materials have increased because the competition has increased. With many manufacturers stepping into making electric vehicles, the competition has risen. The costs of metals like aluminum, steel, copper, lithium carbonate, graphite, and nickel have also increased.

The rise in the manufacturing of electric vehicles has also given rise to the demand for a competent labour force. The electric vehicle industry needs more people who have knowledge and expertise in electric vehicle engineering, manufacturing, and repair. Also, engineers have to have a very important skill which is flexibility. They have to be flexible to face the industry shifts for which they require a comprehensive education.

By the year 2025, this sector is also envisioning creating a lot of job opportunities. According to the estimates of the Ministry of Skill Development in India, the EV sector is likely to generate around 5 million jobs in the future. There is a very high demand for automotive engineers who are competent to do thorough research and work on dealing with existing problems. The demand for chemical engineers is also very high. For instance, the industry is in need of chemical engineers who can dedicatedly work on batteries which is a very important component of EVs. In a nutshell, the industry needs professionals who can look at the problems existing in the industry from different perspectives.

Challenges faced by India in promoting EVs
To encourage people to buy EVs, India first needs to deal with the problem of power shortage. There is a constant lack of power shortage in various areas of our country. This is acting as a major drawback for Electric Vehicles. The evolution of electric vehicles is majorly focused on the metro cities where consumers are anxious about the use of electric vehicles because on average they have to travel a distance of more than 100 km. In other areas where the travel radius ranges between 15 to 20 km, consumers don't have to worry about the battery running out. On the other hand in the case of metro cities, the consumers are mainly anxious because they have no alternative to charge their battery or get it changed if it runs out midway.

A lot of people who frequently travel long distances have this insecurity that if their vehicle runs out of battery they are most likely not able to charge they are vehicle and might find themselves stuck on the road in a remote area. Therefore India first needs to strengthen its infrastructure and work on the availability of uninterrupted power supply in most of its areas. Hopefully, by the year 2025, we might see this problem nonexistent. The EV industry has goals to eradicate this problem, so that, the path of growth of electric vehicles gets smooth.

To sum it up
The future of electric vehicles seems to be very bright and promising. The road to success of electric vehicles will be flawless if the industry is able to eliminate the existing roadblocks and make these vehicles more efficient. By 2025, the electric vehicle (EV) manufacturing industry will have undergone a radical transformation. Automakers will have invested heavily in the development of EVs and electric vehicle components, with a focus on producing more efficient and cost-effective EVs.

Additionally, electric cars will be increasingly more affordable for the average consumer. Automakers will have also invested in the development of more powerful and efficient batteries, improving the range and performance of EVs. Charging infrastructure will be more widely available and will be able to charge cars faster than ever before. Autonomous driving technology will have advanced significantly, allowing for safer and more efficient driving. Finally, the cost of EV ownership will have decreased significantly, making EVs a more viable option for many drivers.

About the author:

Tushar Chhabhaya is the Director of Aarya Automobiles. An ardent ambitious dreamer, he started Aarya Automobiles in 2019 with the passion to create a new segment for EV bikes for common people. Chhabhaya completed his BE Mechanical Engineering from Shri Devi Institute of Engineering and Technology Tumkur, Karnataka.