The electric vehicle (EV) industry is highly competitive and requires a high level of innovation. Companies that fail to meet the evolving demands of customers and manufacturing challenges may not survive. Contract manufacturing is one way to help EV companies overcome the cost and scalability issues associated with their own factories.
Founded in 1937, Volkswagen has been in the ev company long before Tesla or BYD were even born. The German manufacturer’s transition to EV focus has made it the number two auto brand with an overall EV market share of 6.8% in early 2023.
EV Company Spotlight: Leading Innovators in Electric Vehicles
China’s homegrown EV brands have been optimizing new technologies to appeal to the needs of local consumers, creating a thriving marketplace for EVs in the world’s second largest economy. Many of these players have received government subsidies, tax breaks and procurement contracts, helping to lower their production costs.
EVs require specialized computer software to communicate with the battery, motor and charging port. This technology has created jobs for skilled computer software developers, but the industry needs more workers to keep pace with demand. By 2031, the industry is projected to need 140,000 new software developers every year, according to research from consulting firm Ice.
ABB is a green technology company that offers a wide selection of sustainable energy solutions, including power generation, battery storage and EV charging systems. Its system designs can accommodate a variety of voltage levels and power requirements, making them suitable for homes, businesses and public spaces.