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Why Passenger Cars Continue to Be The Most Prominent Vehicle in the EV Battery Market


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AFlica is one of the top countries in the automotive segment that is undergoing major changes. The big change from traditional cars to battery-powered cars was impressive and big. This dramatic trend is the result of increased awareness of environmental issues and the need to realize the more environmentally friendly ambitions set by the African economy. Future Market Insights predicts that the electric vehicle battery market will exceed $ 13 billion in 2027 and has the potential to grow at a CAGR of 8.5%.

Electric vehicles rely heavily on the strength-to-weight ratio to function efficiently on the road. Along with this, with the spread of plug-in hybrid electric vehicles, the increasing reliance on passenger cars for daily transportation and commuting plays an important role in the rapid spread of passenger cars. In this article, we’ll look at why passenger cars continue to be the most famous model in the electric vehicle battery market.

Environmentally friendly initiative by the African government to add huge growth

The adoption of electric passenger cars in Africa has grown over the years, thanks to an initiative initiated by the African government. They are responsible for increasingly investing in R & D activities to address environmental issues and raising awareness of vehicle electrification. They do this by pointing out the positive impacts on climate change caused by global trends in the use of electric vehicles (EVs).

Aditi Basu, Head of Marketing at Future Market Insights (FMI), an ESOMAR-certified market research and consulting market research company.

African countries such as Ghana and Kenya are aiming for high development and growth by the end of 2030. Even if half of the target is achieved, the region’s overall automotive market is expected to grow at an astonishing pace. The Zimbabwe Automobile Association, along with other members of the African Touring and Automobile Club Council, reveals that chaotic imports of vehicles in many African countries are having a negative impact on the continent’s environment, health, society and economy. did.

In addition, there are many reasons why African people and organizations choose to invest in electric-powered passenger cars over traditional passenger cars. In 2021, the United Nations Environment Program (UNEP), along with global electrical facilities, announced plans to help South Africa move to zero-emission electrical mobility. Through this partnership, the program will focus on building charging stations, reducing production and manufacturing costs, and providing affordable plug-in hybrid electric vehicles. This is expected to promote sales of battery-powered passenger cars.

In addition, the uYilo eMobility program was funded within the Smart Energy Solutions for Africa project. The project will start in October 2021 and will run until September 2025. Through this program, African electric vehicle solutions and the diversion of batteries used in electric vehicles will be expanded. This will drive the growth of passenger cars in the region.

Looking at the current scenario, Africa is addressing a major issue in the fight against pollution. Thus, in order to penetrate the market, electric passenger car manufacturers have started and introduced initiatives to drive the same growth.

Raise fossil fuel prices to make a difference in the market

Sub-Saharan Africa (SSA) countries are looking for alternative energy sources to ease the burden of increasing fuel dependence by leveraging abundant renewable energy resources, sources said. Battery-powered electric vehicles (EVs) offer potential solutions to these problems. In addition, there are many reasons why rising fossil fuel prices are making a difference across market scenarios.

Africa’s transportation facilities are primarily fuel-based, placing a financial burden on citizens and a financial burden on the economy. Second, electricity demand in the region is projected to quadruple by the end of 2040. To meet this demand, African countries are optimally utilizing available resources and using them in the passenger car segment.

The electric vehicle battery market will have a brighter outlook as the African region shifts its focus to more cutting-edge technologies and forms strategic collaborations with automotive OEMs. Increasing environmental problems such as global warming and rising pollution levels have led manufacturers to offer alternative energy sources to automobiles.

Top players entering the African market for EV passenger cars

Most of the top African-based car makers are interested in educating consumers and changing their perceptions of the benefits of car electrification. They do this by offering the opportunity to experience the improved performance of electric vehicles. For example, in October 2021, electric vehicle company Tesla deployed the first two supercharged stations in Morocco, marking its first entry into the African market. Electrec reports that supercharged stations are generally the first step for Tesla to enter new markets. The electric vehicle company has opened new stations at the Onomo Hotel in Casablanca and the Alhoara Resort and Spa in Tangier.

In February 2022, Agileite Africa, one of South Africa’s leading manufacturers of electric vehicles, launched the first self-rechargeable four-wheeled electric vehicle named Agility-Go. The car is fully charged and has a mileage that can cover 300km when self-charged, a 1100p HD reverse camera with a large central screen, hydraulic brakes that combine sensitive and quick response, and side protection for all occupants. Front & rear impact guard, Bluetooth hands-free call, Child Lock Hill Start Assist Control (HAC) and automatic transmission.

Conclusion

Around the world, the electric vehicle battery market is growing rapidly. As a result of increasing demand for EVs, major automakers are entering the African market and are expected to ultimately stimulate demand for EV batteries in the long run. Future market insights predict that demand for battery-based EV batteries will gain significant traction due to the fact that electric vehicles for long-distance travel are gaining in popularity.

Over the years, the African automotive industry has undergone major transformations. Players in the region are optimizing as needed and look forward to making the wise decisions needed to achieve e-mobility. As we see the momentum gaining, Africa is expected to adapt to new technologies and change over time.

https://africaautomotivenews.com/2022/06/14/why-passenger-cars-remain-the-most-prominent-vehicle-in-the-ev-battery-market/ Why Passenger Cars Continue to Be The Most Prominent Vehicle in the EV Battery Market

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