EV Trends to Look out for in 2023
The exciting pace of Electric Vehicle (EV) technology is just part of the buzz and energy surrounding the segment. With even more cars entering the market, there are so many storylines to watch. Here are four emerging EV trends you can expect to see in 2023. Battery Subscription Programs Batteries are a major component of any electric vehicle. They’re also the biggest and most difficult to dispose of at the end of their life. VinFast aims to make battery maintenance and replacement a non-issue for EV drivers with its innovative subscription program. This program allows you to pay monthly for the use of your battery, which will be replaced as soon as it drops to 70% of its original capacity for holding a charge. Increasing Demand Due to High Gas Prices Fuel prices continue to rise, putting the pinch on drivers with conventional internal combustion engines (ICE). This will push demand for EVs, especially as range and charging speeds continue to improve. A Focus on Recycling We’re already seeing more and more drivers asking about the end-of-life for batteries, and what that might mean for the environment. Rapid development in battery recycling technology, including the VinFast investment in Li-Cycle’s Spoke and Hub system,…