2022 was the year automakers figured out how to make electric cars really work

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Dan Smith MARCH 6, 2024

But even with the negative connotations, this was a pivotal year for the industry to spend $515 billion to leave the internal combustion engine behind.
It was the year the industry (and other stakeholders) figured out how to make electric vehicles really work.
Stacy Noblet, vice president of transport electrification at consulting firm ICF, said: Said. “A lot of people in the industry were using the behavioral lull to take a step back and really assess what problems they needed to solve for long-term success.”
Here's a look at why 2022 has become so important to the EV space, and why 2023 and beyond is likely to be even more important.
All these plug-in car charging issues continued to come to light this year as automakers pledged to expand their EV business.
Prior to this year, EV adoption wasn't widespread enough to broadly expose the impact of substandard charging infrastructure. Additionally, the majority of existing EV drivers own Tesla, which maintains its own nationwide Supercharger network.
But this year's momentum has shown the space exactly what it needs in terms of charging to make all this happen.
This year, automakers like Rivian, GM and Ford began tackling lithium shortages.Lithium Americas
The industry started and ended this year with a battery supply crisis.
“Ensuring adequate supply is key,” said Andreas Breiter, partner at consultancy McKinsey.
All of this battery buzz has made the industry realize how critical battery space is to a successful transition to EVs, and how a newly conceived supply chain that works is how EVs work. I let The question remains whether the industry will be able to tackle the problem in time.
Startup struggled to get its own flagship vehicle up and running: Rivian
An all-new EV production battle has come to light for all automakers in 2022. This is because the industry has pushed to ramp up EV production.
Startups in particular struggled to get production of their flagship vehicles up and running. Between industry-wide supply chain constraints, logistical hurdles, and the cost of running large factories to mass-produce EVs for the first time, startups have taken a beating.
As a result, we understand the importance of starting production if we want to accelerate adoption of EVs.
Christian Magoon, CEO of investment firm Amplify ETFs, said, “The government is investing a lot of money and tax subsidies in this space. We embrace the benefits, and the companies that mine and process metals have more jobs than they know what to do.
“We are moving forward with electrification.”