The 48V system sits right at the boundary where you can deliver enough power for more auxilliary systems and some mild-hybrid techniques including frequent start/stop systems, brief acceleration boost, and regenerative braking. Yet, it's not high enough to require switching to a different electrical wiring safety paradigm.
This is similar to the reason power-over-ethernet runs at the voltage it does, or "low voltage" lighting exists for home applications where consumers are moving fixtures around and interacting with the wiring.