The Future Of Electric Vehicles In Las Vegas: Impact On Energy And Profitability – Tesla Model Y electric cars transport CES attendees to convention halls in underground tunnels called the Vegas Loop during CES 2023, the annual consumer electronics show, in Las Vegas, Nevada, USA, January 6, 2023. /Steve Marcus/File Photo Acquire Licensing Rights
HANOI, July 7 () – New electric vehicles from Tesla ( TSLA.O ) and rivals have been engineered for efficiency by reducing copper content, changes that could limit growth in demand for the metal as the next generation of electric vehicles hit the market. roads, say industry analysts.
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The Future Of Electric Vehicles In Las Vegas: Impact On Energy And Profitability
A strong increase in electric vehicle sales, led by growth in China, means demand for copper will continue to rise through the end of the decade, but innovation in electric vehicles has proven to be a limiting factor, according to two recent forecasts.
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Copper is considered a transition to green energy, in part because of the wiring required for electric cars. Electric vehicles can use as much as 80 kg (176 pounds) of copper, four times the amount used in a typical vehicle with an internal combustion engine.
In a report this week, Goldman Sachs said electric vehicles accounted for two-thirds of global copper demand growth last year.
But electric vehicle and battery makers have found ways to cut weight and cost that also means less copper is needed per vehicle, Goldman Sachs and consultancy CRU Group said separately.
The CRU Group has reduced its estimate of copper use in the average EV to 51-56 kg between this year and 2030. This is down from a previous forecast of 65-66 kg over the same period.
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Goldman Sachs estimates that copper in the average electric vehicle will drop to 65 kg per vehicle by 2030, compared to an estimate of 73 kg last year.
Both cited a series of engineering changes intended to improve range, reduce weight and increase the efficiency of electric vehicles that will have the cumulative effect of reducing copper content.
“It could be the first crack in the demand-side story,” said CRU analyst Robert Edwards. “Some of the projections were very aggressive in terms of potential green energy demand (for copper).”
Engineering changes include moving to more compact batteries where the cells do not need to be assembled into modules, using thinner copper foil in the battery cells, and moving to higher voltage systems that will require less wiring.
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In one example, Tesla expects that by switching to a 48-volt system for the secondary battery — a smaller battery used to power functions like lights and wipers — in future electric vehicles, it will be able to reduce the need for copper to one-quarter of current levels, Elon said. Musk to investors in May.
Goldman Sachs called battery innovation and a potential shift to higher-voltage systems like Tesla’s “the main threat to copper’s impact on electric vehicle demand.”
Copper demand for electric vehicles is expected to be 1 million metric tons this year and 2.8 million by 2030. It previously forecast 3.2 million metric tons of electric vehicle demand in 2030.
However, the higher penetration rate of electric vehicles offsets the reduced use of copper in each unit.
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CRU said it expects electric vehicles and plug-in hybrids to account for 42% of vehicles sold globally in 2030, up from a previous forecast of one-third.
CRU’s Edwards said some of those optimistic about copper may have underestimated the potential for EV makers to introduce technologies that limit the use of the metal.
Benchmark three-month copper on the London Metal Exchange jumped to a record $10,845 a metric ton in March 2022, thanks in part to a story of rising demand for electric vehicles, but has since fallen by nearly a quarter.
Mai reports on the non-ferrous metal markets in Asia. He writes about daily price movements, trends and forecasts for the copper, aluminum, zinc, nickel, lead and tin markets. She distributes a weekly newsletter here: https://bit.ly/2VMBkfp. Mai previously covered news from Vietnam. She graduated in economics and business (Summa Cum Laude) from Lycoming College in Pennsylvania, USA. She spent a year in London studying at the University of Westminster as an exchange student. Mai previously worked as an intern at Ernst & Young in the audit and consulting departments. The TOGG car is on display at the 2022 Consumers Electronics Show in Las Vegas on January 5, 2022. TOGG / Anadolu Agency via Getty Images
Best Auto News From Ces 2023: Electric Pickup Trucks, Flying Cars And More
The annual CES electronics show in Las Vegas has long been a fantasyland of high-definition televisions, drones, video games and audio equipment, but in recent years it has also become a place to check out the latest developments in the high-tech automotive industry.
In all, more than a dozen new production and concept cars debuted this week at the Las Vegas Convention Center, including some from as far away as Turkey and Vietnam. There is a lot of news about autonomous vehicles, the latest in-car infotainment systems and “wearable robots” that could help create “superhuman” factory workers.
It’s the big buzzword at CES this year and, with one exception, every new concept car and production model on display is all-electric.
GM’s Chevrolet Silverado EV is a big attraction. Scheduled to go on sale in 2023, it will be a battery-powered alternative to General Motors’ best-selling product line. What might surprise some is that, with 664 horsepower and 780 Nft of torque, the electric pickup makes significantly more power than the top-line Silverado’s V-8.
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Range is considered one of the biggest challenges to widespread EV adoption, but the Mercedes-Benz EQXX concept suggests the next-generation EV will address range concerns — and then some. The elegant prototype covers 625 miles per charge, and its batteries are 50 percent smaller and 30 percent lighter than those in the recently launched Mercedes-Benz EQS sedan. No production plans have been announced, but officials say batteries and other technologies will find their way into future Mercedes electric vehicles.
Performance is another place the new EVs deliver: The 532-horsepower BMW iX M60 crossover will hit 60 in 3.6 seconds, while the Silverado needs just 4.5 seconds.
Battery-powered cars could help some brands redefine themselves — starting with Chrysler. The once popular brand has all but disappeared from view, dropping from as many as 12 to just two models today. It is now one of 14 brands owned by Euro-American carmaker Stellantis, and it has only a short time to prove why it should not be abandoned. Based on initial responses to the Airflow concept car, it delivers. The name is borrowed from the revolutionary 1934 model and could reappear as Chrysler’s first EV in 2025. The brand plans to go all-electric in 2028.
CES also launched several automotive startups from abroad. VinFast, Vietnam’s first car company, unveiled two electric SUVs in November. It has brought three more to the Las Vegas convention center and plans to launch its sales network in the US later this year. Not only does it plan to undercut the competition on price, but it will also offer an unusual battery leasing program, the company said. The other overseas entry was Togg, a Turkish startup showcasing a high-tech sedan concept styled by legendary design house Pininfarina.
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The Sony Vision-S 02 electric vehicle during CES 2022 at the Las Vegas Convention Center on January 5, 2022. Steve Marcus / Reuters
Sony has long been a presence at CES with products such as the Walkman, Trinitron TV and PlayStation gaming console. However, this year the Japanese giant shined with its Vision-S concept car and announced plans to launch Sony Mobility this spring. A version of the all-electric SUV could go into production within the next few years and, unsurprisingly, would feature hands-free driving capabilities and plenty of infotainment technology to keep passengers occupied.
It’s hard to find a new vehicle that doesn’t have at least one video screen. Some models on display at CES have seven — or more. In the Mercedes Vision EQXX and Togg Transition Concept, their displays extend from pillar to pillar across the dashboard. One version of the BMW iX battery-powered SUV is designed to let passengers “Netflix and Chill,” the automaker says, with a 31-inch ceiling-mounted panoramic display, 5G connectivity, up to 8k resolution and smart TV functionality.
Along with those necessary displays, the vehicles of tomorrow will have wireless update capabilities like smartphones. CES attendees described various applications, including the ability to download software that could remotely repair recalls. Future vehicles will allow drivers to download new features, increase EV range and performance, and stream entertainment – all for a fee.
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Although coming more slowly than many had hoped, GM’s Ultra Cruise system will launch next year on the handcrafted Cadillac Celestiq supercar, CEO Mary Barra said. While its features will eventually be upgraded – using wireless or OTA technology – the plan is to allow drivers to drive hands-free on “every paved road in the US and Canada.”
GM wasn’t the only one talking about autonomous technology. Various self-driving prototypes filled the convention center, along with exhibits showcasing the latest advances in Lidar, radar and other vehicle sensors that could make self-driving vehicles a reality this decade.
Finally, BMW has shown a possible way to keep your car fresh. Instead of the conventional livery, it was a version of his iX electric vehicle
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