EV Boom Triggers Bonanza for Machinery-Making Industry
With several territories around the world poised to phase out conventional gas-powered cars in exchange for zero-emission electric vehicles (“EVs”), the automobile sector and ancillary industries are looking at a few decades of significant change from the status quo. Electric cars are fundamentally different from internal-combustion-engine (“ICE”) vehicles, from the lithium-ion battery packs that power them to the electric drivetrain, which has nearly a dozen parts, and the proprietary software that keeps the hardware running smoothly and efficiently. As carmakers build more electric vehicles in an effort to meet emission standards and electrify their lineups, the machine industry will be…