Electric-vehicle (EV) growth is surging. Many markets are seeing big double digit growth of 50-60% and according to McKinsey’s EV Index in 2019 auto OEM’s launched 143 new electric vehicles—105 Battery EVs (BEVs) and 38 plug-in hybrid electric vehicles (PHEVs).
More models means more choice and OEM's continue to upgrade range, performance, and reliability to help sales.
EVs have been pushed by governmental action: increasing fuel economy and emission regulations in China, the EU and the USA are driving OEM development and the accompanying promotion to create consumer demand. The shift to battery power has inspired a wide range of start-ups to challenge the almost 100 year old internal combustion engine. So far however EVs only have around a 2.2% penetration rate – however the flip side of that is – there is a lot of room for growth.
However there is a problem. EVs are not profitable. McKinsey estimates that small to midsize EVs cost $12,000 more than internal combustion engine (ICE) vehicles. That cost premium is almost impossible to recover through pricing alone although subsidies and tax exemptions help. The cost of the battery –the biggest cost- will likely fall in 5+ years or so but in the meantime OEMs will have to eat those losses as they strive to hit fuel-economy and emissions policies
As a result OEM’s are hunting for cost savings.
McKinsey recommends a whole raft of ways to mitigate losses including design simplifications and removing elements that do not affect value. However savings in process and assembly should not be ignored.
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We have a wide range of off the shelf products and will work with OEMs to create custom variants to meet their needs. We have done this successfully many times.
- Spring-Fast Grommets protect wires and cables from chafing and arcing and will save 49% on install costs vs. glued nylon grommets.
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- This snap on installation lowers install costs by at least 49% with far fewer work flow steps.
- Seal-Fast edge seals snap on quickly and securely for an effective seal solution.
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- Protect-Fast is an efficient solution allowing for easy installation and management of wires or cable bundles.
- Tough and lightweight it contains & protects cable assemblies, hoses & wire harnesses from abrasion & cutting.
- Withstands higher temperatures to 265℃
- It was designed to dissipate heat quickly so that motors can run hotter and longer with less risk of wire damage.
- The rectangular/square shape allows more conductive material in the same space which yields a higher power density for longer usage or potentially reducing the battery size needed.
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Source: McKinsey EV Index