The electric vehicle (EV) sector is growing rapidly and impacting the energy sector and associated services. As OEMs integrate more software-defined solutions into EVs, a potential segment for digital products and services (P&S) exists. EV-dedicated digital P&S allows key participants to continuously monetize these solutions through new revenue models. In terms of a broader classification, EV digital services can offer solutions for charging, energy management, vehicles, value-added services (VAS), and eCommerce opportunities. EV digital products can cover one or more of the sub-services and functions under these service classifications.
• Digital products can be broadly classified into 3 types: stand-alone products, platforms, and white-label platforms, which cover software or software + hardware; they can be further monetized through new business models, such as platform-as-a-service (PaaS), software-as-a-service (SaaS), and hardware-as-a-service (HaaS).
• Major global OEMs, including GM, Ford, Stellantis, Tesla, and Hyundai Motor Group (HMG), are creating dedicated business divisions for EV-related and new energy businesses, further enhancing the importance of strong EV digital product portfolios.
• Opportunities for EV digital P&S range from OEMs and end customers to charging business companies, energy service providers, mobility and fleet operators, and repurposing or recycling companies.
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