In year 2020 the global electric car stock hit the 10 million mark, a 43% increase over 2019, and representing a 1% stock share. Interestingly about 3 million new electric cars were registered in 2020 itself with Consumers spending close to USD 120 billion on electric car purchases in year 2020.
With the increasing popularity of Electric Vehicles, Battery monitoring is becoming more & more pertinent. Battery health is an extremely critical issue for electric vehicle manufacturers, Operators, Users, and it has the potential to significantly impact sales figures with vehicles shipping soon. Since most battery pack failures occur outside of the vehicle itself, monitoring the battery’s state of health is essential for reducing the risk of vehicle damage and improving battery operating efficiency. The more data we have on a vehicle’s battery health, the better informed we can be when purchasing one.
When it comes to electric vehicles, there’s a lot of data to be gathered. This data can be used to improve battery technology and help improve driver convenience. Automotive battery manufacturers such as Tesla have discovered a way to improve the performance and longevity of electric vehicles. This is because the data collected from these vehicles can be used to monitor how well the battery is managed over time. Knowing how much battery capacity has been lost is an early warning sign that there may be problems with the way the vehicle is being driven or the charge port has been compromised, for example. The more we know about our customers’ driving habits, the more we can fine tune our offerings to best meet their needs. By studying the way batteries work and collecting data on individual vehicles, we can learn how things like weight distribution, battery state, and vehicle speed affect the overall range of an EV.
Data collected from hundreds of thousands of electric vehicle battery packs around the world will also allow the industry to better optimize, design, and test new battery systems. The data also helps the automotive industry make informed decisions about how to deploy battery solutions. For example, it helps the industry better understand what factors increase the risk of a battery failure and where additional resources should be directed. Battery data can be used to help model the behavior and health of batteries in order to improve the overall energy management of electric vehicle fleet operators. Electric vehicle fleet management is a complex problem with many moving parts, and modelling the battery behavior can help fleet operators make better decisions about how their batteries are managed, ensuring that they provide peak performance at all times.
Battery technologies are expanding, showing promise for more sustainable and cost-effective ways to store energy. This has resulted in the creation of a new industry: Battery Analytics. This industry combines battery science with applied electrical engineering to help evaluate and track various aspects of battery performance and degradation in real time. This data helps companies make smart and informed decisions on what features to include on their products, where costs can be cut, and optimize product experience.