EV Issues – Technological Problems
As the electric vehicle industry continues to grow, there are issues that will need to be resolved. This new technology is meant to have struggles, and many companies are starting to deal with them now.
In what was a major announcement, Ford halted production of the F-150 Lightning due to an issue regarding the battery. For a company who is looking to capture a large share of the truck market in the broader area of electric vehicles, this setback is one of many that Ford is trying to fix at the moment. The auto plant in Detroit has been halted for the past week as the company looks into the issue and what is causing it, but this could just be preliminary in the industry.
In the future, many cybersecurity experts are warning of possible hacks on electric vehicles themselves due to the technological aspect of the automobiles. The large amount of chips and software used along with the idea of national charging systems that connect to the cars presents many opportunities for malicious hackers who can take down networks, and even individual cars while on the road. As a result, these experts are calling for EV companies to create stronger security protocols along with government oversight on things like public EV charging stations to keep the US secure in a renewable future. Despite the unlikelihood of such an event, cyberwarfare capabilities are continuing to improve as we saw with attacks on the pipeline, meaning preventative measures must be taken. For now, EV businesses just need to make sure their main components are working properly!
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I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.
