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The future of electric vehicles

Electric vehicles were once a rare sight, but are now quickly becoming a common feature on our roads.

Encouraged by government incentives, climate action, and a drive to use more sustainable forms of energy, electric vehicles are looking to take centre stage. But are electric cars really the future of driving? We took a closer look.

What does the future hold for EVs?

Electric vehicles look set to be the future of driving. It’s not an if, but when. In 2020, the UK brought forward a ban on the sale of new petrol and diesel cars from 2040 to 2030. This brings the electric vehicle future ever closer. 

But what does the future hold for electric cars? What are we likely to see? In the coming years, a raft of changes are coming to electric vehicles to make them more affordable and easier to run. 

In fact, 2022 saw continued growth in this sector. In September there were 38,116 electric vehicle registrations – a 16.5% year-on-year increase. By the end of 2022, going into 2023, it is projected that EV market will continue to accelerate with electric cars outselling diesel engines. Although petrol will remain the most popular choice for the foreseeable future, electric vehicles are closing the gap, fast.  

What can we expect from electric car technology?

More charging points

One is the simple fact that there will be more charging points installed. Currently, you are never over 25 minutes away from a rapid charging point. However, with a greater infrastructure being developed, this time and distance will drop even further. 

Increased battery size and range

Besides the improvements to infrastructure, drivers will also experience the benefit of greater battery sizes. 

The battery is the most important part of an electric car and it’s also where the biggest innovations are happening right now. 

Today, even the most basic EVs achieve over 200 miles on a single charge. Looking forward, the consumer can expect much more. 

Recently, Scientists have developed a biologically-inspired membrane that could increase the charge capacity of an electric car battery by four times its normal amount. Not only will this massively increase the vehicles range but will also reduce the mileage costs, helping the driver save money.

New battery types

Alongside extending their life, manufacturers are also looking to diversify the make-up of EV batteries. Currently, we power most of the world’s EV cars through cobalt or lithium-ion batteries, but if we continue using them at their current rate it will be unsustainable.

Manufacturers are now looking at a range of different options to help power future electric cars. One stand out option is solid-state technology. This will see the current liquid electrolytes in a battery being replaced with solid ones. The consequence of this is a large weight reduction and an estimated improvement in efficiency of around 35%.

In short, the batteries will last much longer.

The problem is that just switching to new batteries won’t be enough. That’s why manufacturers are looking to improve the recycling process. Manufacturers are now implementing schemes to collect old lithium-ion and nickel-hydride batteries and are reusing them as stationary power sources for homes, offices, and leisure spaces.  

Wireless charging

Wireless charging is already here for our phones, but imagine how much easier it would make charging our cars?

There is already technology in development that turns parking bays into drive-on charging points. Simply, park up and charge while your car is idle. 

But if we want to make a more efficient system; we would need to remove the need to stop and charge altogether.. To solve this, tech firms are developing an upgrade in wireless charging that could change everything. 

Currently there are companies’ trialling something called dynamic wireless charging. A ground-breaking concept, dynamic wireless charging aims to remove the need for stationary charging points altogether, allowing us to charge while we drive. 

Tech firm Qualcomm has been showing that they can charge a car from beneath the road at speeds of up to 70mph.

It’s still some way off, but can you imagine never having to stop to refuel or recharge your car ever again?

Greater variety of vehicles

Although the market is growing, the types of electric vehicle you can buy is still quite limited. However, as the market continues to grow, you will begin to see a greater variety of EVs available on the market. 

Not only will you be able to buy a hatchback, but you will also find minivans, trucks, motorcycles, campervans and much more. 

Flex & Free now available

Flex & Free gives customers the flexibility to change their car more frequently. Based on a standard Contract Hire agreement but with the flexibility to change vehicle from the 6th month, without penalty (subject to condition and mileage).

How will electric cars affect our future?

Electric cars will affect the environments we live in

When looking at how electric cars will affect the future there is only one place to start, their environmental impact. 

While cars running on standard internal combustion engines (ICE) are already cutting emissions and becoming more fuel-efficient, electric vehicles are paving the way for the future of sustainable and affordable car ownership. 

If you’re interested in purchasing an electric, low emission vehicle, look no further than Stellantis Financial Services. We have an extensive range, including: 

  • The Vauxhall Corsa-e
  • The Peugeot e-208
  • The Fiat 500e
  • The Citroën ë-C4

By switching to electric, we will see a reduction of noise and air pollution which come as a consequence of burning fossil fuels through an internal combustion engine. This means our living, social and workplaces will end up benefiting from cleaner air and less noise.

The economic future of electric vehicles

The environmental effects aside, electric vehicles also offer an interesting economic opportunity.

ICE vehicles run by burning fossil fuels, and for many countries without said reserves, this can be a costly endeavour. By removing the need to supply a country with fuel for their vehicles, it will allow nations to develop a more flexible infrastructure based on renewable energy sources. 

Not only that, new industries can open up based on the manufacturing and maintenance of EVs and batteries. By working towards electrifying mobility as an initiative, electric vehicles could end up creating new industries, local jobs, and further economic opportunities.

How are Stellantis Financial Services adapting to an electric future?

There are exciting times ahead at Stellantis Financial Services. Soon all of our brands will be going fully electric. The timelines for each of the brands to switch for ICE to EV are as follows:

  •  Abarth will be selling electric only versions of their vehicles from 2024
  • Alfa Romeo are finalising its plan to become fully electric by 2027
  • Citroen are to supply electric variants of all vehicles by 2025
  • DS Automobiles plan to switch all ICE production to electric in 2024
  • Fiat aim to have an electric motor for each model and to achieve a fully electric line-up from 2027.
  •  Jeep’s plan to become the ‘global zero-emission SUV leader’ means that all new vehicle sales in Europe will be electric by 2030
  • Maserati plan to have all their current line-up fully electrified by 2025
  • Peugeot are to also offer a plug-in or electric variant of all vehicles by 2030
  • Vauxhall plan to be fully electric by 2028

Drive into the future with Stellantis Financial Services

If you’re looking to make the switch to an electric vehicle, start by financing it with Stellantis Financial Services. Not only can you choose from a range of finance options to best suit your requirements, you also have the ability to choose from the very best electric vehicles that our brands have to offer.