More than a shift in tone, electrification is playing a pivotal role in the transformation of mobility. Many OEMs have set end dates for internal combustion engine (ICE) vehicles. In the U.S., new regulatory targets aim for an EV share of at least 50% by 2030.
Electricity use is expanding at twice the rate of any other form of energy and drives an imperative to deliver smart, safe and sustainable transport systems and solutions. As emission standards around the world grow more stringent, the pressure mounts to create more efficient electric and hybrid vehicle solutions.
The recently enacted infrastructure bill is allocating more than $7 billion in funding across the battery supply chain for battery materials refining, processing and components manufacturing.
Fluid power experts tell us that the ambition and demand required from regulatory emissions targets still outpace the speed at which the industry can optimize returns from electrification. In a recent interview with Power & Motion, Eric Alstrom, president of Danfoss Power Solutions said the trend is encroaching on all segments of the fluid power industry.
“What we’ve learned during the pandemic is that, especially now with significantly increasing supply chain costs, it makes perfect sense both for our flexibility but also from a cost perspective to be more local.”
With electrification moving to the forefront in the coming years, decision-makers will be critically assessing product portfolios for components that see slowing demand in the face of continuous improvement and costs, and opt instead for technologies that deliver cleaner and greener options.
Reference: Rehana Begg, Power&Motion