ATLANTE, October 5, 2022 /PRNewswire/ — As vehicle electrification continues to advance, the lingering effects of the pandemic, soaring commodity prices and geopolitical challenges have contributed to supply chain disruptions that have slowed growth widespread use of electric vehicles (EVs) in the United States. storm of bottlenecks outlined in Cox Automotive Mobility’s latest white paper, “Supply Chain Challenges Impacting Electric Vehicle Adoption” – is pushing automakers to reshape their EV businesses and exercise greater control over composition, manufacturing and recycling EV batteries to power the electric future.
Cox Automotive Mobility’s comprehensive electric vehicle white paper provides the company’s perspective on the following key topics:
- Status of EV adoption. Americans are buying electric vehicles at a record pace despite rising prices and long waits for delivery. The fleet industry is also taking note that fleet operators are highly motivated to replace their gasoline-powered fleets with electric vehicles in order to meet sustainability goals, increase efficiency and reduce the total cost of possession.
- The importance of price parity in adoption. The electric segment has been hit by the wave of inflation that has affected the entire automotive industry since the spring of 2021. The tax incentives available under the Inflation Reduction Act 2022 will be key to the consumer adoption, helping to offset the cost of expensive electric vehicles.
- Supply chain constraints threatening the growth of electric vehicles. Global shortages of computer chips and materials are impacting production, raising the price of new and used vehicles, and contributing to long waits to purchase new EV models.
- Building a Robust Supply Chain for Electric Vehicles in the United States The United States currently has a vulnerable supply chain for electric vehicles, heavily dependent on imports of semiconductor chips, raw materials and electric vehicle batteries. The country is in a sprint to produce its own EV components to increase economic competitiveness and energy independence.
- The role of technology. Currently, the United States does not have enough locally supplied materials to meet consumer demand, so innovations in battery chemistry, material substitution, and recycling will be critical to the transition. to electric vehicles.
“This confluence of factors further highlights the importance of end-to-end EV battery lifecycle management,” said Lea Malloy, AVP of EV Battery Solutions, Cox Automotive Mobility. “Coupled with government policy support, the first EV battery life extension paves the way for significant progress in protecting the planet while accelerating EV adoption in a challenging environment.
The Cox Automotive Mobility white paper is available for download at Electric Vehicle White Paper – Cox Automotive Mobility (coxautoinc.com).
Supporting the future of the electrified automobile
Cox Automotive Mobility and Arrows New technologies extend VE battery life cycle through a closed-loop system that reduces the environmental impact of metal mining and supports the extension of VE first battery lives and end-of-life reuse and recovery treatments. For more information about Cox Automotive VE Battery solutions, visit www.coxautoinc.com/evbattery.
About Cox Automotive Mobility
Cox Automotive Mobility’s mission is to advance global fleets to serve the next generation. Focused on four main business areas (Fleet Services, Fleet Operations, EV Battery Solutions and Emerging Ventures), the group is a fundamental enabler of the emerging global transport ecosystem – an autonomous/airborne, connected, electric and shared ecosystem ( ACES).
About Cox Automotive
Cox Automotive Inc. makes it easier for everyone to buy, sell, own and use vehicles. The 27,000+ team members and global company family of brands including Autotrader®, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, VinSolutions®, vAuto® and Xtime®, are committed to helping millions of car buyers, 40,000 automotive dealership customers across five continents, and many more in the automotive industry thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately held, AtlantaNew York-based company with annual revenue of nearly $20 billion. www.coxautoinc.com
SOURCE Cox Automotive Mobility