Anyone who has followed the technology industry will have come across the infamous Gartner Hype Cycle. This slightly tongue-in-cheek graph tracks the rise, fall, and rise again of new consumer technologies from inception through to wide adoption.
With the Gartner Hype Cycle, some technologies never escape from the Trough, for example for aforementioned 3D TVs, most of which have only ever been used in non-3D mode. But there are plenty of reasons why EVs won’t get stuck in the Trough and will surmount the “Slope of Enlightenment” to the “Plateau of Productivity”. Previous technologies that achieved this illustrious result include the Internet, which weathered the Dotcom Crash to become a ubiquitous and essential part of life.
However, the slowdown in sales will need to be countered with more affordable EVs, such as the Small BEV platform Griffiths mentions, which is the one that was first unveiled in Volkswagen’s ID. 2all around this time last year. “The cars that the Volkswagen Group will manufacture on this mobile platform will start around €25,000, which is the price of the biggest sold car in Spain,” he says.
BYD and CATL are expected to halve the prices of their Lithium Iron Phosphate batteries by the end of 2024
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