The push for e-propulsion PROGRESS

Upstarts and heavy-hitter suppliers alike are fast-tracking advances in existing technology - as well as radical new solutions.

Electric powertrain development continues at a fervent pace as OEMs, suppliers and startups try to optimize current technology while forging ahead into new areas. Although battery engineering and development enjoys almost daily industry discussion, traction motor and power electronics remain the investment focus of many established and startup suppliers. Efficiencies gained in these systems can significantly reduce an EV's required amount of expensive battery capacity.

It's a rapidly expanding market, seemingly with plenty of room for myriad new players and fresh ideas. Vitesco Technologies, the powertrain supplier spun from Continental in 2019, has committed to electrification in all future development. As a result, it generated $888 million in revenue in 2021. Thomas Stierle, head of the the company's Electrification Solutions division, said it expects revenue to increase to $10 billion to $12 billion by 2030.