Everything You Need to Know About Electric Vehicles

16 Oct 2023

Gone are the days when cars were just gas-guzzlers, leaving our wallets empty and the planet gasping for breath. Electric vehicles are now mainstream in the automotive industry, and they would soon be parked in driveways worldwide. 

With technological advancements, EVs are becoming more affordable, efficient, and reliable. Global battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) sales stood at around 10.44 million units in 2022.

So, here’s the A-Z of electric vehicles, from the basics of how they work to the benefits and challenges of owning one. This guide will broadly explain various types of electric vehicles, focusing on the key drivers, challenges, and opportunities of the market. It will also dive into the technicalities of electric vehicles such as power terrain components, battery technology, connected car technology, etc. 

Introduction to Electric Vehicles

The first electric vehicles were invented in the 1800s, but they did not become widely adopted due to the limited range and high cost of batteries. In recent years, there has been a renewed interest in EVs due to advances in battery technology. The average range of an electric vehicle is now over 200 miles.

Currently, the United States is the largest market for EVs in the world, followed by China and Europe. According to BIS Research, the Indian EV market will grow at a strong 43.13% CAGR from 2019 to 2030.

EVs are an essential part of the transition to sustainable transportation. They produce zero emissions, which can help to improve air quality and reduce greenhouse gas emissions. EVs also have lower running costs than gasoline-powered vehicles, saving drivers money.

In addition to their environmental benefits, EVs are also becoming more popular due to their technological advances. New models offer longer ranges, faster charging times, and more features.

General Motors in January 2023 announced that it will stop producing gasoline-powered cars by 2035. Walking along the path, Volkswagen announced in March 2023 to invest €70 billion in electric and autonomous vehicles by 2029. 

As the technology continues to improve, EVs are expected to become even more popular in the years to come. 

Types of Electric Vehicles

Electric vehicles rely on electric propulsion systems to power their wheels, reducing greenhouse gas emissions and dependency on fossil fuels. They use one or more electric motors to propel the vehicle, and their energy is stored in rechargeable batteries. EVs are becoming increasingly popular due to their environmental benefits, lower running costs, and quiet operation.

According to recent studies, the rapid advancement in the field of electric vehicles is causing the increased demand for wiring harnesses and connectors. Electric vehicles use almost double the number of wires when compared to a traditional ICE vehicle. 

Here are four main types of electric vehicles, classified by their propulsion system.

Battery Electric Vehicles (BEVs)

Battery Electric Vehicles, commonly known as BEVs, operate solely on electricity stored in large rechargeable batteries producing zero emissions. They do not have an internal combustion engine (ICE) and rely entirely on electric power for propulsion. 

The driving range of modern BEVs has improved and we can travel over 200 miles on a single charge, with some luxury models offering even greater ranges. BEVs typically employ regenerative braking systems that capture energy during braking and convert it back into electricity to recharge the battery.

When it comes to battery management, a well-developed charging infrastructure is essential for BEVs. Charging can be done at home using a standard electrical outlet or at public charging stations. 

However, BEVs also have some limitations, the main drawback of BEVs is their limited range. The battery pack in a BEV typically only provides enough energy for a range of 100-300 miles. This can be a problem for drivers who need to travel long distances.

Another drawback of BEVs is the cost of the battery pack. The battery pack is the most expensive component of a BEV, and it can make the vehicle more expensive than a gasoline-powered car.

Plug-in Hybrid Electric Vehicles (PHEVs)

Plug-in Hybrid Electric Vehicles (PHEVs), combine elements of both conventional internal combustion engine (ICE) vehicles and BEVs. These vehicles are equipped with a gasoline or diesel engine and an electric motor, along with a battery that can be charged via an electrical outlet.

PHEVs offer improved fuel efficiency with an internal combustion engine to extend the driving range suitable for longer trips. The average all-electric range of PHEVs is 30-60 miles. PHEVs can typically achieve fuel economy of 50-100 MPG (42-85.3 km/l) in electric mode and 30-40 MPG (13.6-17.2 km/l) in gasoline mode. 

Similar to BEVs, PHEVs often feature regenerative braking to recover energy during deceleration and can be charged using a standard electrical outlet or at public charging stations. 

However, PHEVs still rely on fossil fuels in hybrid mode, which means they are not completely emissions-free and may not be the best choice for those seeking a fully sustainable transportation option. 

Recently, BMW and General Motors announced in 2023 that they would stop selling PHEVs in Europe and the United States by 2025. However, companies such as Toyota and Honda are still committed to PHEVs as a way to bridge the gap between gasoline-powered vehicles and BEVs.

Hybrid Electric Vehicles (HEVs)

Hybrid Electric Vehicles (HEVs) are a type of electric vehicle that combines an internal combustion engine (ICE) with an electric motor and a small battery. Unlike PHEVs, HEVs do not have a plug-in option; the battery is charged solely through regenerative braking and the ICE. Moreover, the electric motor in HEVs assists the ICE during acceleration and other high-load situations, improving fuel efficiency. 

Companies like Toyota, Hyundai, Ford, and Kia took 2023 to announce their new HEV launches with a driving range of 250- 500 miles. 
HEVs are ideal for drivers who want better fuel efficiency without any hassle. However, their electric-only range is limited, and they may not be suitable for those looking to minimize their environmental impact significantly.

Fuel Cell Electric Vehicles (FCEVs)

Fuel Cell Electric Vehicles (FCEVs) represent a unique category of electric vehicles that use hydrogen fuel cells to generate electricity, which powers an electric motor. FCEVs are still relatively rare compared to other types of electric vehicles, but they offer distinct advantages.

FCEVs produce zero tailpipe emissions, emitting only water vapor as a byproduct, and the fast-refueling process of FCEVs eliminates the need for long charging times, addressing one of the key challenges of BEVs. 

However, the adoption of FCEVs faces challenges related to hydrogen infrastructure, as building a network of hydrogen refueling stations is a significant undertaking. Additionally, hydrogen production methods need to become more sustainable to maximize the environmental benefits of FCEVs. 

Exploring EV Charging Infrastructure

EVs offer a cleaner and more energy-efficient mode of transportation, reducing greenhouse gas emissions and dependence on fossil fuels. Tesla took a major step towards making EV charging more accessible in 2023 with the announcement of opening its Supercharger network to non-Tesla vehicles in select European countries. 

However, the widespread adoption of electric vehicles hinges on the development of a robust and accessible EV charging infrastructure. 
Charging an electric vehicle involves replenishing its battery with electrical energy, typically stored in lithium-ion batteries. 


There are various charging solutions available to cater to the diverse needs of EV users:

Home Charging Stations:

Home charging stations are typically designed for residential use. 
Home charging stations are the most convenient way to charge an electric vehicle. They can be installed in a garage or driveway, and they can be used to fully charge an electric vehicle overnight. Home chargers typically cost between $500 and $2,000 to install.

There are two main types of home chargers:

Level 1 chargers: Level 1 chargers use a standard 120-volt household outlet. It can take up to 12 hours to fully charge an electric vehicle, providing around 2-5 miles of range per hour of charging.

Level 2 chargers: Level 2 chargers use a 240-volt outlet, like the kind used for clothes dryers. It can fully charge an electric vehicle in about 4 to 8 hours, providing up to 25 miles of range per hour.

Public Charging Networks:

Public charging networks are crucial for EV adoption, especially for those who cannot install home charging stations due to parking constraints or renters. SemaConnect, France revealed a collaboration with Volkswagen Group in 2023 to introduce 18,000 EV charging points in Europe,
Public chargers can be found at malls, parking garages, gas stations, and other places.

There are two main types of public chargers:

Slow chargers: Slow chargers typically use a 240-volt outlet and can take several hours to fully charge an electric vehicle.

Fast chargers: Fast chargers use a higher voltage than slow chargers and can fully charge an electric vehicle in about 30 minutes.

Fast-Charging Technology:

Fast-charging technology is designed for rapid charging on the go. This technology is becoming increasingly important as more and more electric vehicles are being sold. Fast chargers can fully charge an electric vehicle in a matter of minutes, which makes them ideal for long-distance travel with minimal charging downtime. These chargers can provide up to 100 miles of range in as little as 20-30 minutes. 

Swiss engineering giant ABB unveiled a 350 kW DC fast charger in January 2023, capable of 15-minute electric vehicle charging. 

There are two main types of fast-charging technology:

DC Fast Charging (DCFC): DCFC chargers use direct current (DC) to charge electric vehicles. DCFC chargers can fully charge an electric vehicle in about 30 minutes.

CHAdeMO: CHAdeMO is a fast-charging standard that is used by many Japanese and European electric vehicles. CHAdeMO chargers can fully charge an electric vehicle in about 20 minutes.

Charging Management

Efficient charging management is essential for the smooth operation of an EV charging infrastructure. 
To enable e-mobility, service providers and EV charging operators manage all aspects of EV charging, maximizing charger uptime and providing EV drivers with a seamless charging experience. 

Tesla introduces a versatile Level 2 charger compatible with J1772 and NACS plugs, offering remote control and energy tracking via the Tesla app. 

EV charging management software helps e-mobility service providers and charging operators efficiently manage EV charging operations. It ensures charger performance is optimized, delivering a seamless experience for EV drivers. Additionally, this software allows charging providers to monetize their services.

Considering these advancements, BIS Research estimates the EV charging management software market to achieve $25.92 billion by 2031, with a 36.7% CAGR.

There are two main types of charging management:
Smart charging: Smart charging uses software to optimize the charging of electric vehicles. Smart charging can help to reduce the peak load on the electrical grid and save money on electricity bills.
Demand response: Demand response is a program that allows electric utilities to temporarily reduce the demand for electricity from electric vehicles. Demand response can help to prevent blackouts and brownouts.

Charging management systems offer several benefits:
Payment and Billing Systems:
Charging stations often require users to make payments for the electricity consumed. Payment systems can vary, including subscription-based models, pay-as-you-go options, or even free charging at certain locations. Effective billing and payment solutions are crucial for both charging station operators and users.

The rising popularity of in-vehicle payment services in developed nations has led automakers like Honda, General Motors, and Mercedes to incorporate these systems in their upcoming models. 

Remote Monitoring and Maintenance:
Charging station operators need real-time data on station usage and performance to ensure efficient operation. Remote monitoring allows for the timely detection and resolution of issues, minimizing downtime and improving the user experience.

Load Balancing and Grid Integration:
Managing the demand on the electrical grid is a significant concern for widespread EV adoption. Load balancing systems help distribute the load evenly across charging stations, preventing grid overload during peak hours. Grid integration also allows for the utilization of renewable energy sources, further reducing the carbon footprint of EVs.

Challenges in Charging Infrastructure

While EV charging infrastructure has come a long way, several challenges still need to be addressed for its continued growth and improvement:

Range Anxiety:
Range anxiety, the fear of running out of battery power before reaching a charging station, remains a concern for potential EV buyers. To alleviate this anxiety, automakers are continually working on improving battery technology to extend the range of EVs.

Charging Speed:
Despite the availability of fast-charging technology, the charging time for electric vehicles is still longer than refueling a gasoline vehicle. Reducing charging times through advancements in battery technology and charger infrastructure is a priority.

Charging Accessibility:
Ensuring equitable access to charging infrastructure, especially in underserved areas, is a challenge. Governments and private entities are working to expand charging networks to bridge this gap.

Interoperability between different charging networks and payment systems is crucial for a seamless charging experience. Standardization efforts are ongoing to make it easier for EV users to charge their vehicles regardless of location or charging network.

Environmental Sustainability:
The environmental impact of producing electricity for EVs and the disposal of batteries are concerns that need to be addressed. Sustainable energy sources and recycling programs are being developed to mitigate these issues.

As EVs become more connected, they become potential targets for cyberattacks. Ensuring cybersecurity of charging infrastructure and vehicles is vital to protect user data and vehicle functionality.
As per the estimation of BIS Research, the automotive cybersecurity market is projected to grow with a CAGR of 22.97%, reaching $17.73 billion by 2031.

The challenges facing the development of charging infrastructure can be overcome through government policies, private investment, and technological innovation.
The future of EV charging infrastructure is promising and includes the following development sections: 

• Research into ultra-fast charging technologies, such as solid-state batteries and high-power chargers, aims to drastically reduce charging times, making EVs more convenient for users.

• Wireless charging technology, which allows EVs to charge without physical cables, is in development. This could provide greater convenience and further reduce barriers to EV adoption.

• Governments and private companies are investing in expanding public charging networks, including building more charging stations along highways and in urban areas.

• Smart charging infrastructure will enable users to schedule charging during off-peak hours, take advantage of lower electricity rates, and reduce the load on the grid during peak times. 

Electric Vehicle Maintenance

Electric vehicles (EVs) have become an increasingly popular choice for environmentally conscious consumers. Their reduced emissions, lower operating costs, and smooth, quiet rides make them an attractive option. However, like any vehicle, EVs require maintenance and care to ensure their longevity and optimal performance. 

Volvo, in March 2023 unveiled "Care by Volvo," a new electric vehicle maintenance program, providing fixed monthly coverage for maintenance, repairs, and roadside assistance.
Maintaining an electric vehicle involves a combination of routine tasks and specialized care to ensure that all components function efficiently. 

Here are some key aspects of EV maintenance and care:

Battery Care and Lifespan

The battery pack is a critical component of an EV, and its proper care is essential for maintaining the vehicle's overall performance and longevity:

Charging Practices: Avoid frequently charging the battery to 100% or depleting it to 0%. Maintaining a state of charge between 20% and 80% can help extend the battery's lifespan.

Temperature Management: Extreme temperatures, both hot and cold, can impact battery performance. Whenever possible, park your EV in a moderate temperature environment and use climate control features to pre-condition the battery.

Fast Charging: While fast charging is convenient for long trips, it can increase wear on the battery. Use fast charging sparingly, and when possible, opt for slower, level 2 charging for daily use.

Battery Cooling: Some EVs come equipped with active battery cooling systems to maintain optimal operating temperatures. Ensure that these systems are working correctly.

Regular Software Updates: Manufacturers may release software updates that optimize battery management and overall vehicle performance. Keep your vehicle's software up to date.

Battery Health Check: Periodically check your battery's health using diagnostic tools provided by the manufacturer or a trusted service center.

As EV technology continues to evolve, staying informed about the specific maintenance requirements of your vehicle and keeping up with manufacturer recommendations will help you get the most out of your electric vehicle investment. 

Technology in EVs

Electric vehicles (EVs) are at the forefront of automotive innovation, offering eco-friendly alternatives to traditional internal combustion engine (ICE) vehicles. The success of EVs is intrinsically tied to advancements in technology. 

Electric Powertrain Components

The electric powertrain is the heart of any electric vehicle. The electric powertrain of an EV is a system that converts electrical energy from the battery into mechanical energy to power the wheels. 
The average electric powertrain efficiency for EVs is around 85%. This means that for every 100 kWh of electrical energy that is stored in the battery pack, about 85 kWh of energy is used to power the wheels. The remaining 15 kWh of energy is lost as heat or in other forms of inefficiency.

Consisting of several key components that work together to propel the vehicle with electricity instead of fossil fuels:

Battery Technology:
The development of new battery technologies is essential for the continued growth of the EV market. As battery prices come down and battery performance improves, EVs will become more affordable and practical for a wider range of consumers.
China accomplished a 711 kWh/kg capacity rechargeable lithium battery in April 2023 by utilizing an ultra-thick high discharge capacity cathode, which demonstrated a capacity area surpassing 10 mAh/cm2 in conjunction with a lithium metal anode. 

Lithium-ion batteries are currently the standard, but research into solid-state batteries and other chemistries promises even greater performance and safety. Advances in battery technology have significantly improved energy density, driving range, and charging times.  

Electric Motor:
Electric motors are responsible for converting electrical energy from the battery into mechanical energy to drive the wheels. Permanent magnet motors and induction motors are the two primary types used in EVs, each with its own set of advantages and disadvantages.

Inverters play a crucial role in converting direct current (DC) from the battery into alternating current (AC) for the electric motor. These devices are vital for controlling motor speed and torque, ensuring efficient power delivery.

Many EVs use single-speed transmissions due to the wide torque range of electric motors. This simplicity results in smoother acceleration and fewer moving parts, reducing maintenance requirements.

Regenerative Braking:
Regenerative braking systems capture and convert kinetic energy back into electrical energy during braking, helping to recharge the battery and increase overall energy efficiency. 
Recently, Toyota announced a new regenerative braking system called "e-Four" on its upcoming bZ4X electric SUV to recover more energy from braking and improve the bZ4X's handling.

Autonomous Driving Technology in EVs 

Autonomous driving technology is rapidly developing, and it is being incorporated into more and more EVs. Autonomous driving technology uses a variety of sensors, such as cameras, radar, and lidar, to gather information about the surrounding environment. This information is then used to control the vehicle's speed, steering, and braking.

There are several levels of autonomous driving, ranging from Level 0 (no automation) to Level 5 (full automation). Most EVs on the market today are Level 2 or Level 3 autonomous vehicles. Level 4 and Level 5 autonomous vehicles are still under development, but they are expected to be available in the coming years.

BMW is planning to integrate Amazon's cloud tech for its semi-autonomous driver assistance system in Neue Klasse EVs and use Qualcomm's Snapdragon Ride platform from 2025. Autonomous driving technology has the potential to improve safety, efficiency, and convenience for EV drivers. 

However, some challenges need to be addressed before autonomous driving technology can be widely adopted. These challenges include the development of safe and reliable sensors and software, as well as the creation of regulations that govern the use of autonomous vehicles.

Connected Car Technology

Connected car technology refers to the ability of a vehicle to communicate with other vehicles, infrastructure, and the Internet. Connected car technology can be used for a variety of purposes, such as traffic management, safety alerts, and infotainment.

EVs are well-suited for connected car technology because they are already equipped with a variety of sensors and communication devices. Connected car technology can be used to improve the efficiency of EVs by optimizing their routes and charging schedules. It can also be used to improve the safety of EVs by sharing information about hazards and traffic conditions.
Watch | Webinar on Cybersecurity in Automotive by BIS Research


Connected car technology enhances the driving experience and offers numerous benefits to EV owners:

Telematics: Telematics systems in EVs provide real-time data on vehicle performance, battery status, and maintenance needs. This information is transmitted to the manufacturer or owner for remote monitoring and analysis.

Infotainment Systems: Advanced infotainment systems in EVs offer features like navigation, music streaming, and voice recognition. These systems are continually updated to provide a seamless and enjoyable driving experience. 

Tesla has been a leader in connected car technology, in 2023, Tesla announced that it would be rolling out a new feature called "Tesla Theater" that would allow passengers to watch movies and TV shows on their car's touchscreen display. 

Over-the-Air Updates: Many automakers offer over-the-air software updates for EVs, allowing manufacturers to improve vehicle functionality, fix bugs, and add new features remotely. This capability ensures that EVs remain up-to-date and secure.

App Integration: Smartphone apps allow EV owners to remotely control various aspects of their vehicles, such as pre-conditioning the cabin, checking battery status, and locating charging stations.

As future developments continue to unfold, including solid-state batteries, advanced charging infrastructure, and enhanced autonomy, electric vehicles are poised to play a central role in shaping the future of transportation and sustainable mobility. 

Fleet Management Technology

Fleet management technology has evolved into a critical component of modern logistics and transportation operations. Fleet management technology encompasses a wide range of tools and systems designed to streamline the management and operation of vehicle fleets. 

Some of the key components include:

GPS Tracking and Telematics: GPS tracking and telematics systems provide real-time location data for each vehicle in a fleet. This technology allows fleet managers to monitor vehicle positions, routes, and speed, facilitating efficient route planning and monitoring driver behavior.

Vehicle Diagnostics and Maintenance: Advanced fleet management systems can monitor the health of individual vehicles by analyzing data from onboard diagnostics systems. This enables proactive maintenance scheduling and helps prevent breakdowns, reducing downtime and maintenance costs.

Driver Behavior Monitoring: Telematics systems can track driver behavior, including speeding, harsh braking, and rapid acceleration. This data allows fleet managers to identify and address unsafe driving habits, improving safety and reducing fuel consumption. 
Waymo, the self-driving car company owned by Alphabet, introduced its latest self-driving technology-equipped taxis in February 2023 allowing them to operate without a human driver. 

Fuel Management: Fuel management tools monitor fuel consumption in real-time, helping fleet managers identify inefficiencies and reduce fuel costs. They can also detect fuel theft or unauthorized vehicle use.

Route Optimization: Route optimization software uses real-time traffic data and historical route information to plan the most efficient routes for vehicles. This reduces fuel consumption, travel time, and vehicle wear and tear.

Asset Tracking: Asset tracking technology is used to monitor and manage not only vehicles but also equipment and other valuable assets within a fleet. This is particularly valuable for construction and utility companies. 

Fleet management technology is a dynamic and transformative field that is reshaping the way organizations manage their vehicle fleets. Embracing these innovations is essential for organizations seeking to stay competitive and environmentally responsible in an evolving world of transportation and logistics. 

Challenges in the EV Industry

The electric vehicle (EV) industry has witnessed significant growth and innovation in recent years, driven by the global shift toward sustainable transportation. However, several challenges continue to shape the industry's trajectory. 
Here are some of the challenges in the EV industry:

Charging Infrastructure

One of the most significant challenges facing the EV industry is the development of a robust and widespread charging infrastructure.
While home charging solutions are practical for many, the availability of fast-charging stations, especially in rural areas, remains a concern for long-distance travel and widespread adoption.

Moreover, different charging networks, standards, and payment systems can lead to confusion for consumers and hinder the seamless charging experience. The availability of public charging stations is still limited in many areas. This can make it difficult for EV owners to find a place to charge their vehicles when they are away from home. 

Battery Technology

Batteries are the heart of EVs, and while advancements have been made, several challenges persist. 

Lithium-ion batteries, though improving in cost-efficiency, still represent a significant portion of the vehicle's price. Reducing battery costs is crucial for EV affordability. Along with this, increasing the energy density of batteries is essential for extending vehicle range and promoting widespread adoption.

The demand for materials like lithium and cobalt raises concerns about resource availability and environmental sustainability. The batteries in EVs contain hazardous materials and they need better recycling attempts. However, the lack of infrastructure for recycling EV batteries brings a huge step-down.

Limited Range

The range of EVs is still limited compared to gasoline-powered vehicles. This can be a major barrier for drivers who need to travel long distances frequently. Despite improvements in battery range, addressing this perception is essential for broader adoption.

Infrastructure Investment

The rollout of charging infrastructure and grid upgrades requires significant investments from both the public and private sectors. Determining how to fund and incentivize these developments is an ongoing challenge.

Electric Vehicle Industry Trends

The electric vehicle industry has experienced remarkable growth in recent years, driven by a global shift towards sustainable transportation. Volkswagen announced in June 2023 to invest $86 billion in electric vehicles and batteries by 2026. This is the largest investment by any automaker in electric vehicles to date. 

As we look ahead, several key trends are shaping the future of electric vehicles, from market growth and technological advancements to evolving regulations.
Automakers are diversifying their EV offerings, introducing a wide range of models, from compact electric cars to electric SUVs and even electric trucks.
As EV technology becomes more accessible and affordable, market share is expected to grow across various segments, including passenger vehicles, commercial vehicles, and public transportation.

Governments are also working to develop regulations that will support the growth of the EV market. These regulations could include incentives for EV buyers, requirements for automakers to produce a certain number of EVs, and investments in charging infrastructure.

The development of supportive regulations is essential for the growth of the EV market. These regulations will help to make EVs more affordable and accessible, and they will also help to build the necessary infrastructure for EVs.


From small city cars to large SUVs, electric vehicles are taking over the roads in no time. Moreover, the cost of EVs is also becoming pocket-friendly, making them more affordable for a wider range of consumers. The global EV market is expected to grow to 28 million vehicles in 2030. Leading automakers like Tesla, Nissan, and Chevrolet are offering a diverse range of EV models, catering to various budgets and needs.

The future of EVs holds promise with ongoing research into longer battery range, faster charging, and improved sustainability. As technology continues to evolve, electric vehicles are poised to play a crucial role in achieving a greener, more sustainable transportation future.