There is no doubt that worldwide electric vehicle (EV) sales are on the rise. Manufacturers are forging ahead and opening new production facilities across the continents. Automakers are also working with governments to include charging stations in infrastructure development plans. In this article, we have all the information you need to know before deciding to make the switch to an electric vehicle.
Are You Ready to Switch to an Electric Vehicle?
World governments are increasingly committing to the abolishment of fossil fuels in order to lower harmful emissions. Therefore, it is important for governments to work with the EV industry for the establishment of charging infrastructure nationwide. For now, cars are able to plug in at home for undertaking short journeys close to home. However, going on road trips with electric vehicles is a different matter. With more and more electric vehicles on the road, charging stations along major routes is inevitable.
While Tesla has certainly spearheaded the development and production of electric vehicles, other legacy automakers have begun to enter the mix as well. More and more car manufacturers are developing prototypes, are launching, or are getting ready to launch their EVs or hybrid models. As some manufacturers work to catch up, and as more automakers throw their hats in the ring, this means good news for drivers. More competition in the electric vehicle space means lower purchase prices and more options.
State of Play
Hybrid cars have been around for quite some time now. A hybrid car has both a petrol motor and an electric motor. In 2019, 8% of new car sales were either hybrid or fully electric. However, experts estimate that this will increase to 18% by 2030. While this may not seem like a lot, global new car sales in 2021 were in the region of 70 million units, despite the slow-down in sales caused by the global COVID pandemic. As economies recover new vehicle sales will increase.
With regards to other carmakers, General Motors has committed to producing 30 models globally by 2025. Also, by 2025, Jaguar intends to have electric vehicles in production. Volvo is also aiming at 2025 to have hybrids and battery-powered EVs available. Volvo is also aiming to be carbon neutral by 2040.
Current EV Stock
In terms of EV stock levels, China currently leads all other nations. However, Norway leads the international market in penetration per capita, having on average one EV for every 18.9 citizens. Norway is followed by the U.S with a penetration rate of 46.8, or one EV per 46.8 citizens. In the United States, California leads the way with close to 50% of all EV registrations in America.
Stalling Lower Emissions
Easy access to charging stations is critical to expanding the driving range of EVs. So far The Netherlands has the highest density of EV charging stations. Generally speaking, there is a global lag in the availability of charging facilities. This does not inspire driver confidence as a driver’s biggest fear is being left stranded. Furthermore, there have been some negative reports about the efficacy of public charging stations. Clearly, more investment will be needed in order to succeed in the quest to lower global emissions.
The Future of Gas Stations
The elephant in the room is the future of gas stations. For now, gas stations are secure as it will be years before EVs make up the majority of cars on the road. However, gas stations will need to evolve in order to avoid becoming relics of a bygone era. This may be easier for independents, free of franchise agreements with the major oil companies. Will we see the introduction of charging points at these types of gas stations? How long will it be until we see a private charging station rollout nationwide?
Additional Information: Study: EVs Cost More to Repair, Less to Maintain – Kelly Blue Book
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