Electric Vehicle Fasteners and How EV Brands Can Improve Inventory Management

The EV revolution has been the talk of the industry for several years now. However, it wasn’t until recently that electric vehicles became a considerable force on the market, and the latest results show that the number of zero-emission vehicles will rise. In fact, in September of 2021, the number of EVs sold on the European market was bigger than the number of diesel-powered cars, which is a clear sign of times to come. Of course, the change in the direction of the global car market means that automotive fastener manufacturers need to adjust to new requirements and technologies. That’s not all; EV brands can improve inventory management by implementing innovative production technologies. In this article, we cover the top challenges and directions for development.

Electric Vehicle Fasteners

Despite the fact that ICE (internal combustion engines) and electric motors couldn’t be further away in terms of construction and principle of working, EVs aren’t much different from standard cars from a fastener perspective. They still need the same bolts, washers, pins, screws, springs, and they still use similar production technologies. We have to understand that EV companies were based on current production standards and started by people with previous fossil-fueled automotive experience.

However, the specific performance of EV cars requires unique parts. Yes, EVs have a significantly smaller number of parts since there are fewer engine components, but they still need some completely redesigned and reengineered fasteners. For instance, EVs have enormous torque from zero rpm and are capable of brutally fast acceleration times. Those manoeuvres put massive stress on drive train components, brakes and suspension. In fact, using the exact same fasteners in EV cars as in ICE models resulted in several recalls in recent years. However, we shouldn’t be too harsh on electric car companies. This is obviously a brave venture into an unknown field, and recalls are mainly the result of a lack of production experience and capacity.

It means that the automotive fastener industry needs to develop special lines of products for EV cars with the help of OEM manufacturers. Using the existing line of products might sound reasonable from a financial point, but it will prove problematic down the road. Also, the rapid development of EV models and the sheer number of new cars sold makes engineering a separate line feasible and reasonable. This is where automotive fastener companies and EV makers need to collaborate with two primary goals. First, developing a brand new line of EV-suited fasteners and second, improving the quality of the products and minimalising the risk of recalls.

How EV Brands Can Improve Inventory Management

At the moment, we have a very specific situation. On the one hand, we have giants of the industry with well-developed inventory systems designed to support the manufacturing facilities scattered all over the world. On the other, we have small EV companies based in America and require a steady supply of batteries that mostly come from China.

When the supply chain is complicated, it means that it is expensive and takes a lot of time which could be dangerous for a small EV startup. It could represent unsolvable problems, especially amid the global pandemic and chip shortage which has affected the world’s industry in general.

Global EV brands can improve inventory management systems by making them faster and more local. This means establishing its own network of suppliers, which would be able to adapt to new products and production techniques. This is mainly directed to battery supply which is a crucial component of any electric vehicle. Basing the production on Chinese companies is not a particularly smart long-term move. Process automatisation and back-office functions should be top priorities for all EV companies.

WHY CHOOSE AUTO-FASTENERS FOR YOUR EV FASTENER REQUIREMENTS?

We provide automotive fastener solutions proven to reduce costs, shorten lead times, minimise complexity and eliminate errors. This is achieved thanks to a unique ‘Global Sourcing, Single Supply’ model which enables us to connect you with the right global manufacturers – at the right time.

AUTO-FASTENERS can supply a whole range of automotive fasteners which are particularly relevant for EV and EVB applications, including fasteners with electrically isolating coatings, super lightweight fasteners, non magnetic fasteners, new component fasteners i.e. Battery retention bolts, EV charging unit support and much more. Get in touch with us today on 01926 814600, by email at enquiries@auto-fasteners.com or by completing your details on our enquiry form.

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