Why is this technology important to businesses?
Like other alternative vehicles, the online electric vehicle (OLEV) shares many of the similar benefits that regular electric vehicles (EV) have over internal combustion engine (ICE) automobiles. The general benefits of the OLEV are similar to the benefits of an EV. They are environmentally friendly, they produce no emissions from the tailpipe of the vehicle but the electric motor itself may produce some. They are both energy efficient, a majority of the “fuel” used is converted into energy via power to the wheels. Additionally, they have some performance benefits; electronic vehicles can offer smooth and quiet acceleration. Additionally, the reduced demand for fossil fuels can help reduce our dependence on foreign energy sources.
For all of the rewards listed there is still a downside to electric vehicles in general. Some of the issues with electronic vehicles have kept them from being popular with the public as a whole. EV’s are thought to have limited driving range, most can only go 100-200 miles before needing to be recharged. In addition to needing to be recharged they also take a substantial amount of time to recharge, often taking 4-8 hours depending on the battery type. The batteries also have a limited life and must be replaced during the cars life. This can be expensive as there are 6-8 (or more) with the average cost being a couple hundred dollars. The batteries are also bulky and heavy and take up a lot of space in the vehicle. Additionally, the carbon footprint that both the production and disposal of these batteries creates can cause some to deter from purchasing an EV. The OLEV has several technological advantages that help overcome the aforementioned disadvantages of EV’s when compared to ICE’s. OLEV’s are enabled with electromagnetic technology that allows them to recharge their batteries while on the road, through simple cables systems buried beneath the road surface. This means that they can reduce the number of batteries necessary to power a vehicle and don't need the regular plug-in that a typical EV requires. The OLEV reduces the size of a battery to one-fifth of the current battery installed in an electric car. This new type of technology is already being put into place. The Foothill Transit Line in West Covina, CA has their Foothill Transit Ecoliner utilizes this technology and has been deemed “the world’s first heavy duty, fast charging electric bus.”  The Seoul Amusement park in South Korea has also taken advantage of this technology. They have placed over 1,000 of recharging strips throughout the park to allow for OLEV’s. This has allowed them to retire 3 diesel powered trams . If this new emerging technology can take root, it could revolutionize the electric vehicle industry by helping potential users overcome their uncertainties about electric vehicles.