Electric vehicle batteries and its effect on the global market

Abstract

The introduction of autonomous vehicles (AVs) and battery electric vehicles (BEVs) to the global automotive industry has generated ongoing, significant advances. Electric vehicles (EVs) are becoming more and more popular due to a variety of factors, including falling prices and greater environmental and climate awareness. Unique essential criteria, including vehicle range, have been produced because of the BEV powertrain's new features compared to the combustion type, and this has made them a key selling factor. The cost structure of the vehicle is altered by the fact that the electric components are still not optimized, and the required sensors are still expensive. The battery is one of the core elements of EVs, thus the paper provides a full analysis of all available battery technologies, from lead-acid to lithium-ion. Finally, we conclude our work by presenting our projections for this field's near future as well as the study areas that are still accessible to both the academic and industrial groups.