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What does 2023 have in store for electric vehicles?

Posted 12/29/2022

One calendar is ending and another is just beginning. It’s the perfect time to look into the future and see what the coming year has in store for electric vehicles (EVs) and EV charging infrastructure. 

Electric SUVs

We’re not going to list every model of EV coming out in 2023, but suffice it to say many vehicle manufacturers have an EV in the pipeline and there are a few brand-new vehicle companies that will make their debut.  While coupes have ruled the EV landscape so far with a few trucks and sports cars thrown in, 2023 is gearing up to be the year of the electric SUV.  According to Kelley Blue Book, Cadillac will enter the EV sphere with its first offering, the Lyriq SUV.  Another first will be the Ocean, an electric SUV from brand-new vehicle manufacturer Fisker. Luxury vehicle brand Genesis will also debut its first electric SUV, the GV60. Also making its debut as a vehicle manufacturer is IndiEV with its Indi One electric SUV.  While Lexus has been around for several years as a vehicle brand, it is set to release its first all-electric vehicle, the RZ 450e. Also; it’s an SUV.  Vietnamese automaker VinFast will have two SUVs available in 2023; the VF 8 and VF 9, and these will join electric SUV offerings from new brands like Polestar and established brands like Toyota, Subaru, Nissan, Mercedes-Benz, Jeep, Hyundai, GMC Hummer, Chevrolet, and BMW. If you are in the market for an all-electric SUV, 2023 is your year!

Increased EV Ownership

While it is difficult to make an exact forecast for how much EV ownership will grow in 2023, we feel confident in saying that it will continue to creep up as gas prices are likely to stay high, EV charging infrastructure will continue to expand, batteries will likely continue to improve, and EV prices will likely continue to drop. As EVs become more mainstream, they will start to enter the used vehicle market, as well.  People who want to purchase an EV will have more options, too. As mentioned already, many vehicle manufacturers are releasing electric SUVs in 2023, and Tesla is set to release its Cybertruck.  EV purchase incentives will also help, although they can be a bit confusing and restrictive. The Inflation Reduction Act that passed in 2022 extended the purchase incentives (now known as the Clean Vehicle Credit) through to the end of 2032.  However, to qualify for the incentive, the EV must have its final assembly in North America and the MSRP cannot exceed $80,000 for vans, pickups or SUVs;  and $55,000 for other vehicles. In addition to that, there is a limit on annual income for people who want to use the Clean Vehicle Credit. It’s $150,000 for single filers, $225,000 for head-of-household filers or $300,000 for households with joint filers.  To see the full list of requirements, visit the Department of Energy’s website.

Battery Improvements

Many companies continue to try and improve batteries, not just for EVs, but for power storage in general. As batteries get better, we are likely to see the new and improved ones make their way into EVs.  For example, Swiss company Morand is working on battery technology that enables a battery to be charged in just 72 seconds Nanoramic Laboratories and Belgium’s Avesta Battery & Energy Engineering have signed an agreement to keep working on co-developing what the companies call “advanced” lithium-ion batteries using Nanoramic's Neocarbonix® at the Core electrode technology. These are just a couple of examples of companies that are continuing to develop batteries that are longer lasting and faster charging. We probably won’t see a huge jump in battery capability in any 2023 vehicles, but the research and development will continue throughout this coming year for vehicles in the future. 

New Technologies

In addition to new EV battery capabilities, other aspects of EV charging are also evolving, like the charging ports. In the EVs themselves, the software is becoming more powerful. One of the most promising software capabilities in new and upcoming EVs is vehicle-to-everything (V2X) technology. In a nutshell, this technology enables a vehicle to be aware of and potentially “communicate” with its surroundings, including other vehicles (vehicle-to-vehicle, or V2V), infrastructure and road signs (vehicle-to-infrastructure, or V2I), pedestrians (vehicle-to-pedestrian or V2P) and networks (vehicle-to-network or V2N).  The new software capabilities will continue to be developed and rolled out in new vehicles as they are produced.

Beyond Cars and Trucks

While electric cars receive the lion’s share of media coverage, there are other vehicles being developed, introduced, and shipped in 2023.  One of the biggest vehicles to hit the road in 2023 will be the Tesla Semi. The company started delivering the vehicles in late 2022, so they should be rolling down the highway throughout the year in 2023.  While it doesn’t have a launch date yet, the all-electric RV Lightship will progress through its developmental stages in 2023. Similar to an EV, the Lightship RV will contain an electric drivetrain that will propel it while it’s being towed behind an EV, meaning it will not use any of the EV’s power, as it will have its own battery and drivetrain.  And it’s not just the roads that you’ll start to see more EVs. There are electric boats, airplanes, and personalized electric flying machines in the works. The future of all transportation really is electric.

EV Charging Infrastructure

Similarly to the adoption of EVs, it is difficult to forecast exactly what will happen in 2023 in terms of EV charging infrastructure. The only thing we know for sure is that there will be more of it.  The US federal government is still providing local governments with EV charging infrastructure funding in the form of grants. There are also several conferences taking place in 2023 to discuss EV infrastructure, among other items involving electric vehicles.  Some noteworthy (and similarly named) international ones are:

All of these forums bring together various stakeholders from business, government, and other interested parties to discuss the future of EVs.  And what does 2023 have in store for Blink?  We can guarantee that we will continue to provide excellent Level 2 and Direct Current Fast Charging EV solutions and superb customer service to our beloved customers, our family of resellers, and their end-user customers.  We will also be making a big announcement to start the year at the Consumer Electronics Show (CES) in Las Vegas on January 5th. This groundbreaking announcement will set the tone for Blink for the rest of 2023 and beyond. Blink experienced massive growth in 2022 and we want to keep it up in 2023. The future is electric. Charge on!

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