While the price of these sockets may be lower upstream of production, overall costs are concentrated downstream of production due to longer man-hours, more complex wiring designs, and potential quality issues. In contrast, the modular design can significantly reduce the amount of packaging engineering of the charging socket, which not only reduces the total cost, but also ensures the quality.
Electric vehicles have become the choice of the market, and the electric vehicle market is booming. In just 14 years, electric vehicles will account for 45 percent of all new vehicle sales, according to the Boston Consulting Group. As sales surge, service gaps will follow.