Reducing the cost of electric vehicles (EVs) while maintaining performance and drivability is the most significant hurdle to EVs’ scalability and mass adoption. Put simply, OEMs are struggling to offer a mass-market EV that is similar to an ICE-equipped car in its performance (speed, range, torque, driving experience, etc.) and its price.
To meet the performance curve of traditional vehicles, OEMs and Tier 1 suppliers must resort to over-spec motors, two motors, or weighty and costly batteries. With limited performance and often low reliability, lower-cost vehicles serve only a niche (urban mobility) market, not suitable for mass adoption. Without sacrificing performance and drivability, OEMs cannot bring down the cost and stand to lose a significant share of the automotive market – the affordable EV.
Current government incentives aimed at speeding up the adoption of EVs by subsidizing costs are unsustainable in the long term. Without a significant change to the efficiency of their components, EVs will remain at either too high a price point or too low a performance level. There needs to be a technical innovation that makes EV technology at least equivalent to the 100+-year-old traditional car.
Moran Price, CEO, and Co-founder IRP systems discusses how automakers can leverage new technologies to change the industry paradigm, transforming EVs from luxury status item to upper-middle-class staple, and bringing them to the mass market.
About IRP Systems
IRP Systems is removing the last barriers of electric vehicle adoption by making electric mobility technology affordable for the mass market and accelerating its adoption worldwide. The company’s uniquely innovative, patented electric powertrain technology is changing a paradigm in the EV industry.
Current solutions on the market require OEMs to choose between lowering the cost while limiting the performance or having a high-performance vehicle that is too expensive. IRP Systems’ TrueDriveTM portfolio of electric motors and controllers offers an unprecedented level of powertrain efficiency, which optimizes battery use and allows for a smaller battery at a reduced cost.
IRP’s reliable offering is backed by the company’s experience designing unique systems to meet the stringent size, weight, and quality standards of the aerospace industry.
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