Are Fuel Vehicle Going To Exit The Market?

On June 11th, Kuai Technology reported that in order to improve the driving range of electric vehicles, scientists from many countries are working hard to develop new battery materials.

Currently, most electric vehicles rely on lithium-ion batteries. Despite their high efficiency and reliability, the negative impact of increased battery weight has become a bottleneck in the pursuit of longer range.

In contrast, gasoline car owners can quickly refuel at gas stations at any time, while electric vehicles still face many challenges when used in areas with scarce public charging facilities.

Now, a South Korean research team has announced the successful development of a new electric vehicle battery based on silicon materials. Its energy storage capacity is ten times that of traditional graphite negative electrode batteries, theoretically allowing electric vehicles to travel over 4800 kilometers after a single charge, almost eliminating users' concerns about range.
According to the research team mentioned above, they are attempting to replace the graphite negative electrode in traditional batteries with silicon material, which has stronger energy storage capacity. In order to solve the problem of volume expansion of silicon during charging, the team has developed a new type of binder material.

The team leader mentioned above stated that this plan is being considered for commercialization, with the hope that future electric vehicles may be able to complete long-distance travel without relying on frequent charging, completely solving the problem of limited popularity of electric vehicles due to inadequate charging facilities.

If that's the case, then are gasoline cars really going to be phased out?

Firstly, policy driven and environmental requirements are important factors affecting the oil vehicle market. Many countries and regions around the world have set clear policy goals to promote the popularization of new energy vehicles. For example, the EU mentioned in its 2023 Green Deal that it will ban the sale of new fuel vehicles by 2035. However, policy promotion is only one factor that facilitates market transformation and cannot fully determine the future of fuel vehicles.
Secondly, technological advancements and consumer acceptance are also affecting the market position of gasoline vehicles. Although the range and intelligence level of electric vehicles continue to improve, gasoline vehicles still have advantages in terms of technological maturity and consumer acceptance. Fuel vehicles still dominate with mature technology, comprehensive infrastructure, and a wide user base. In addition, the maintenance cost of fuel vehicles is relatively low, and there are mature repair networks across the country, which is currently difficult to replace with electric vehicles.
Furthermore, the imperfect market infrastructure is also one of the reasons why oil vehicles will not completely retire in the short term. Despite the increasing popularity of electric vehicles, the construction of charging infrastructure still lags behind, especially in remote areas and rural areas where the number and distribution of charging stations are far from meeting demand. This makes many consumers hesitant when making purchasing decisions.
Finally, the economy and durability of gasoline powered vehicles are also important reasons why they will not retire in the short term. The resale value of fuel vehicles is relatively high, with a resale value of over 60% after three years, while the resale value of electric vehicles is relatively low, with a depreciation rate of up to 30% in the first year and possibly exceeding 50% after three years.
In addition, the power performance and convenience of long-distance driving of fuel vehicles are also their advantages. Fuel vehicles perform better in acceleration and climbing, and are suitable for various road conditions.

In summary, it is clear at a glance whether fuel vehicles will be exit market.