The electric vehicle (EV) as a green energy solution has already become a popular and accepted replacement for the internal combustion engine (ICE) vehicle. Their use is increasing daily because of rising awareness of carbon emissions, government incentives like providing privileges EV drivers, and, of course, increasing oil prices and decreasing reserves.
According to the Bloomberg NEF (BNEF) 2019 Electric Vehicle Outlook , EVs will account for 55 percent of all new passenger cars worldwide by 2040. In addition, compared to the ICE vehicles, EV motors are more efficient and react quickly with high torque. They are also cost-efficient because of their lower fuel and maintenance costs. Today, there are different commercially successful models of EVs, from economical models to the powerful sports models.
Ilika plc (LON:IKA) is a pioneer in materials innovation and has been inventing new materials for energy and electronics applications for over a decade. Global brands such as Rolls Royce and Toyota have long term collaborations with Ilika’s development teams.