The change from internal combustion engines to electric motors will be one of the most significant the automotive industry has faced.
After a century of investment, development and refinement of the ICE, automakers will begin to accelerate development of electric drivetrains, which will mean a reduction in the number of components used. Parts such as exhaust systems, valves, crankshafts and engine blocks will no longer be required in an EV world.
This will significantly affect cutting tool manufacturers and suppliers that depend on the automotive sector, since they have historically relied heavily on the ICE machining market. As the need for these products slows, there may not be significant demand to sustain the current number of players in the cutting tool market.
According to an analysis by global bank ING, an EV’s powertrain contains about 200 components, while a typical four-cylinder ICE has about 1,400 components—a parts reduction of 86 percent.
“Exhausts, transmissions and engine components are exchanged for electric motors, battery packs and power electronics (to control electric power),” ING notes. “Almost a third of the value of the automotive supply chain is powertrain related and threatened by the shift to electric powertrains.”
What should suppliers and tool manufacturers focus on? Electric vehicles will need new components, so the production of items such as battery casings and EV charging ports could present a growth opportunity.
Also, with cutting tools essential for industrial manufacturing processes, suppliers should examine opportunities presented by new developments in the industry, such as automation, energy efficiency and the building of lightweight parts.
Read more: Automotive Industry Trends: 3 Things to Watch for in Electric Car Manufacturing
No. 2: 3D Printing and Additive Manufacturing
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I believe after EV has become standard, we will we are using more energy than ever. Remember batteries (and wind turbines) are next to impossible to recycle and will have to disposed of. Remember the energy to create specialized mining equipment and the effect mining has on the environment. And the carbon based power needed to create and operate these vehicles. Could go on and on.
42EVs are a terrible mistake in the next ten years we will be producing 15 million tons per year of spent lithium batteries. Lithium is the most deadly substance on earth and there is no way to recycle it, you cannot bury it as it would get in the ground water and kill millions. It is way worse tha any atomic waste!
47Lithium batteries can be recycled my friend! Please go to www.san-lan.com and see what San Lan Technologies Companies Co., LTD can do concerning recycling Lithium batteries.
Email info@san-lan.com
32FYI… wind turbines can be recycled my friend.
Please see us.orsted.com. https://us.orsted.com>recycling
Orsted claims they can recycle 85-95% of a wind turbine. And are working on making that 100% recyclable.
35FYI….Thomas, please see Standard Lithium Ltd. And go to standard lithium.com.
They are using DLE Direct Lithium Extraction on Lithium Brine in the Gulf of Mexico off of the coast of Arkansas, USA.
They are Not using heavy machinery to mine Lithium out of the ground.
When there is a will, there is a way.
32Off the coast of Arkansas?
38Randy, for additional information, please go to www.standardlithium.com.
Then see Projects. Arkansas Smackover Project. Ed M.
29Can’t we have solutions to this new green energy before trashing the whole ice and fossil fuel economy. I just heard PG@E wants people with electric vehicles to remain plugged into the grid so their vehicles can be tapped for their stored energy. This tells me they don’t have the grid capacity to handle millions of electric vehicles.
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