Motors Big and Small (1971) [video]
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However, this is deceptive. In fact, most of the advancements in electric motors are in fact advances in electric motor controllers. Having a more advanced controller allows uses of configurations previously impractical (eg. BLDC motors). It also allows increased efficiency.
Better controllers are mostly down to the development of fast high power MOSFETs (electronic switches). They allow electric currents to be directed very precisely and with low losses, unlike previous tools of relays and mechanical switches (eg. motor brushes), which provide far less control. Combine that with microcontrollers and mathematical models of the motor executed in real time, and you can direct varying currents to each motor coil to achieve very high performance with very high efficiency.
One other big contributor is the development of cheap neodymium magnets, which enables stronger magnetic fields in less space, again making motors smaller and more efficient for the same power.
Modern motor+controller systems are now usually above 90% efficiency, and can go above 98%. So there is limited room for further improvements there, although I'm sure we'll still see them get smaller and cheaper to manufacture.
There have been several improvements to the physical construction of the motors in several areas that allows them to perform better/cheaper.
Even for a dumb 12VDC motor that gets turned on by a switch this has increased performance.
The electric motor used in today's EVs are basically perfect, with some reaching 99% efficiency and being capable of outputting more torque then any vehicle will ever need. All while being cheaper, lighter and more compact than any comparable ICE.
However, the bottleneck for EVs have always been the batteries. In weight, size, price, safety and usable range, a tank of fossil fuel will always beat a battery, even with the limited efficiency of an ICE.
There isn't much more to gain in electric motor design (at least not for use in road vehicles), but there is still a long way to go in battery design.
> That was 1971. Now 43 years later, we still use the over 100 years old combustion engine. Something is seriously wrong in this world.