The rise of electric vehicles—2020 status and future expectations

TLDR: In this article, the authors provide an overview of the status of the light-duty-EV market and current projections for future adoption; insights on market opportunities beyond light duty EVs; cost and performance evolution for batteries, power electronics, and electric machines that are key components of EV success.

Abstract: Electric vehicles (EVs) are experiencing a rise in popularity over the past few years as the technology has matured and costs have declined, and support for clean transportation has promoted awareness, increased charging opportunities, and facilitated EV adoption. Suitably, a vast body of literature has been produced exploring various facets of EVs and their role in transportation and energy systems. This paper provides a timely and comprehensive review of scientific studies looking at various aspects of EVs, including: (a) an overview of the status of the light-duty-EV market and current projections for future adoption; (b) insights on market opportunities beyond light-duty EVs; (c) a review of cost and performance evolution for batteries, power electronics, and electric machines that are key components of EV success; (d) charging-infrastructure status with a focus on modeling and studies that are used to project charging-infrastructure requirements and the economics of public charging; (e) an overview of the impact of EV charging on power systems at multiple scales, ranging from bulk power systems to distribution networks; (f) insights into life-cycle cost and emissions studies focusing on EVs; and (g) future expectations and synergies between EVs and other emerging trends and technologies. The goal of this paper is to provide readers with a snapshot of the current state of the art and help navigate this vast literature by comparing studies critically and comprehensively and synthesizing general insights. This detailed review paints a positive picture for the future of EVs for on-road transportation, and the authors remain hopeful that remaining technology, regulatory, societal, behavioral, and business-model barriers can be addressed over time to support a transition toward cleaner, more efficient, and affordable transportation solutions for all.