The Road Ahead for the Automotive Industry - Experts Offer up Predictions for 2024, and Beyond

We can all agree that 2023 was a difficult year for the electric vehicle industry, with some startups failing whilst some OEMs announced a slowing down of their EV production. However, technology may hold the key to overcoming many of the challenges that the industry is currently facing.

In our lookahead to 2024, we offer up the forecasts of industry experts from Tevva, VEV, McLaren Applied and Monolith.

"No one said the electrification of trucks was going to be easy, but it is inevitable, and the technology has developed to a point where an electric truck is a viable proposition for many fleet operators," says Stuart Cottrell, Head of Energy Services and Government Partnerships at Tevva.

"Constraints on charging and refuelling infrastructure, as well as clarity on ownership costs, will need to be addressed next year. Tevva is actively collaborating with its partners and customers to address these critical factors. We are confident that our electric trucks will not only save organisations money over the vehicle's lifetime but also enhance fleet and driver performance," he says.

Mike Nakrani, is the CEO of VEV, a UK-based company that helps large fleets, corporate fleets and municipalities to decarbonise.

"International regulatory bodies and national governments need to continue their efforts to ensure that EVs of all types – including heavy-duty commercial vehicles – have the chargers they need at their disposal, and a robust energy supply that’s capable of serving a scaled-up network," says Nakrani.

"Equally important for fleet owners is to realise is that each fleet needs a bespoke configuration in terms of vehicles, energy supply and charging infrastructure. Each fleet must be right-sized to make the economics stack up and avoid over-spend. Analysing fleet telematics and energy supply data will enable fleets to calculate exactly what infrastructure upgrades they need to make."

Improving The Driver Experience 

With a heritage in Formula 1, McLaren Applied develops advanced engineering and technology solutions for the motorsport, automotive and transport sectors.

"We see our role as helping OEMs develop products that truly appeal to buyers on the same level as ICE vehicles. We do this through technology that enables longer distance, quicker charging EVs while delivering a definable driving and passenger experience," explains McLaren Applied's COO, Samir Maha.

"We believe that differentiating the driver experience through the application of drivetrain hardware and software will be crucial. Through advanced inverter technology and software for fine motor control, engineers can start programming different characteristics into vehicles, delivering the most appropriate driver experience for their brand and type of car," adds Maha.

Embracing AI In 2024

in 2023, there was a lot of noise and excitement about generative artificial intelligence (AI) services, such as ChatGPT. But AI is also emerging as an accelerant that can cut time to market significantly for breakthrough products and technologies. That's according to Richard Ahlfeld, who's the CEO and founder of Monolith, an AI software provider. 

"After working on more than 300 AI projects with our engineering customers to look for ways that time-to-market for new designs can be accelerated, the biggest opportunity is in validation testing of highly complex, dynamic systems with non-linear behaviour, i.e. electric vehicle batteries," says Ahlfeld.

"Through the ability to learn from data, test engineers can understand behaviour characteristics that are so complex, that without the right tools it is incredibly difficult to decipher. AI that learns from real-world test data is a reliable and effective means for solving the intractable physics of batteries that current simulation and test planning tools don’t efficiently solve."

"By embracing AI and machine learning principles, engineering teams can navigate the intricate challenges of understanding – and validating – the intractable physics of electric vehicle batteries more efficiently, leading to streamlined development, optimised designs, and faster time to market," concludes Ahlfeld.