What is an Electric Vehicle (EV or BEVs)?
If we talk in simple language, electric vehicles are those vehicles which are completely dependent on electricity. An EV is a short form of an electric vehicle.
Advantages of EV
The first and key advantage of an Electric Vehicle (battery) is it doesn't require Gas (gasoline), so you won't have to spend money on filling up your tank. EVs are quieter than regular cars, and they don't pollute the environment.
In terms of savings, Electric Vehicle is often cheaper than buying gas. It can save you money in the long run. EVs also require less maintenance than petrol or diesel vehicles. Electric vehicles are more friendly as well, we are using friendly words because your EV is your family member and you can charge your EV at home using a regular electrical socket, making it convenient.
Battery electric vehicles (BEVs) are the most preferable vehicles in 2023 as these are powered by rechargeable electric batteries. BEVs produce no tailpipe emissions and have no combustion engine.
EV Range
We are living in the age of technology and at the time of writing this blog (October 2023), all-electric vehicles have a driving range of 80 to more than 300 miles. I think this range is going to increase even more in the coming 4-5 years.
Electric Vehicle Types
Currently, there are three different types of electric vehicles created to meet different driving needs and it includes all-electric, plug-in hybrid electric and fuel cell electric.
All-electric (BEVs): As the name indicates, EVs or BEVs have a large battery that powers one or more electric motors.
Plug-in hybrid electric (PHEVs): Plug-in hybrid electric vehicles include both gas-only and electric-only driving.
Fuel cell electric (FCEVs): Fuel cell electric vehicles basically run on electricity. For your information, the FCEVs power system is composed of numerous cells combined into a stack that chemically combines hydrogen gas from the car’s tank and oxygen from the air to produce electricity.
How many electric vehicles were sold in H1 2023?
The market of EVs showcased a huge growth in H1 2023. In particular, China was by far the largest EV market, with 55% of global EV sales in H1 2023, a total of 3.4 million units as reported by Canalys.
No doubt, Tesla is the leading player in the global BEV market. It grew by 65% year-on-year, selling over 935,000 units of EVs in H1 2023 when compared with 565,000 units in H1 2022. It consistently ranks in the top three in key regions, with double-digit market shares.
Which Electric Car is on the top?
According to Canalys research, Tesla's Model Y continues to hold the top position with over 13% market share. This is followed by Model 3 reclaiming its volumes in H1 2023 with 7%. However, Model X and Model S account for less than 1% share globally.
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