Electric Mobility Innovations & Startups Report

Comprehensive Showcase of Global Electric Mobility Innovations & Startups

From CLIMAFIX, the leader in climate innovation intelligence

Electric Mobility Introduction:

Electric mobility refers to the electrified transport ecosystem. The e-mobility ecosystem comprises electric vehicles, energy storage solutions (mainly batteries currently), and the battery charging infrastructure.

Worldwide, over 10(30) million electric cars were playing on the roads by the end of 2020(2023). If that seems like a large number, consider that there are over one billion IC engine vehicles running on the same roads. Electric vehicles are thus in their initial stages of growth, though they have significant growth potential during the 2020-2030 period.

Electric vehicles are not exactly new. Some of the first motor vehicles to run on the roads were electric. However, EV adoption is not easy in a world that has gotten used to the convenience and cost of oil-based vehicles. The high cost of battery storage makes electric vehicles more expensive than conventional ones. Other challenges include the comparatively limited range that many electric cars provide and the long time taken for battery charging. All these challenges are however being overcome at a fast pace.

Transportation contributes about 20% of the total CO₂ emissions worldwide – about 7.2 billion tons of CO₂ per year. Electrification has the potential to significantly reduce a vehicle’s CO₂ emissions – by as much as 70% compared to an IC engine vehicle and the reductions could be much higher as the power sources become more renewable and low carbon.

While electric mobility is growing in all parts of the world, expect electric cars to grow predominantly in developed countries until about 2025, with lighter vehicles (electric 2 and 3-wheelers) being the driver for EV growth in developing and underdeveloped countries until this time.

For the 2020-2030 period, the scope of innovations in e-mobility is vast. In addition to innovations happening around batteries and fuel cells, expect impactful innovations around purpose-built EVs, electrifying heavy vehicles and light commercial vehicles, electric 2-wheelers, EV building platforms, business models such as electric mobility as a service, and use of EVs extensively by utilities.

The Electric Mobility Innovations & Startups Report provides insights on the following: