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During the last six years, battery technology has improved significantly. The energy density of batteries has increased providing for higher capacity batteries. This, of course, allows electric vehicle owners to drive farther before charging their vehicles. These factors make electric vehicles more palatable to those who have held out on a purchase.
A decrease in battery prices has had a significant impact on sales of electric vehicles sold globally. This has been a significant concern for customers as well as manufacturers of EV’s since the beginning of mass production. But the recent cost trends have eased the minds and wallets of customers. This provides an excellent opportunity for Taipei based xMight to expand the reach of their electric car charging stations.
Out of 41 markets globally, there has been a 92% increase in electric car sales during the first half of 2019. This is a surprisingly high percentage in spite of all the challenges these vehicles have faced through the years. Despite the increase in sales, the number of available charging stations remains exponentially less.
Such development in sales has put xMight in a strategic position to become the leading provider for electric car charging stations. With Tesla as a prominent client, xMight has proven its capability to scale its operations as a startup.
The company regards itself as a waste eradicator, indicating its expertise in energy management. Its use of AI to balance and manage the usage of energy has a significant value for homes, businesses, and vehicles. xMight continues to fine-tune its AI to calculate vehicle mileage, power demand and distribution, power networks, and other factors to deliver optimal solutions for charging stations. There is a host of complex variables that continuously need to be balanced as EVs and charging stations increase. It is a fact that a growing number of EVs increase demand and create constraints on power networks.
One option is using solar power to charge vehicles during peak hours when the sun’s rays are greatest. However, these cars may be needed the most during those hours, and thus, cannot be connected to a charging station at the same time. Such complications are entirely new to our purview and are quite complex. All these variables will come to the forefront as the number of EVs increases globally. This is where the application of AI and machine learning is being maximized by xMight to produce the best results for charging stations.
The positioning of xMight as a viable startup is substantial given the factors mentioned above, and those factors are just a handful among many other components that’s propelling this company as a powerful force in energy management and Tesla charging options. This startup is certainly one to keep an eye on as trends keep pointing to favorable forward motion for xMight.