Automakers have tested Electric Cars, Bikes, Ships, and even planes over the past few years. But what would it take for the EVs to become mainstream? The call for switching to electric vehicles has particularly grown stronger in the West. With the entry of giants like LandRover and Tesla in the electric vehicle market, the focus on zero-emission vehicles is surely growing with time. But how long before it becomes the new normal and what are the roadblocks in the journey of transformation in the travel industry?
What can change with the entry of electric vehicles?
The rising level of carbon level in the atmosphere is a key reason behind global warming and the smoke from vehicles is a major contributor to it. It is high time that we find alternative fuels to reverse the damage caused by the consumption of fossil fuels.
Some key advantages that make electric vehicles a sustainable medium of transport are
- Reduction in fuel cost: The cost of fuel comes down remarkably as compared to petrol/diesel vehicles and electric vehicles can travel to a long-distance upon being charged once.
- Environment-Friendly: This is a key reason why countries around the world are bolstering the process of developing electric vehicles and replacing diesel/petrol vehicles with them. The emission levels will come down gradually after the transformation.
- Energy Independent: Many countries are dependent on oil-rich economies to keep transportation in their country alive and this involves a lot of dirty politics and abuse of power. All of this can be eradicated and energy independence could be achieved by developing the technology indigenously.
- Low Maintenance: Electric Vehicles may be a bit more expensive in comparison to the traditional vehicles but the maintenance cost of electric vehicles is comparatively very low.
The progress of electric vehicles
According to an automobile survey, more than 130 Zero- and Low-Emissions vehicle options will be available in the world by 2025 and thus we can expect to make a permanent shift to electric vehicles by the end of this decade. Nearly 40 plug-in hybrids and fully electric vehicles are already available in the US market. Nissan LEAF is one of the leading electric vehicle manufacturers in US. Other European countries are also working towards the development of sustainable electric vehicles and reports suggest that the global aim to shift to zero-emission vehicles is very much feasible. The entry of companies like Tesla makes the market even more competitive and with competition comes innovation.
Automakers like Hyundai and Toyota are working on hydrogen fuel cell and Hyundai Nexo is a leading example of what lies in the future. Toyota unveiled its Mirai at an auto show in LA to bring the competition into the market. This is a clear indication that consumers are going to have a lot of options when the sales of electric vehicles skyrocket. Investors have planets to invest a whopping $225 billion in the next five years to develop cutting-edge technology to push the global sale of the EVs.
Several countries such as Sweden, Norway, Slovenia, US and Singapore have already started using the technology in their public transport system with running electric buses either fully or on a trial basis. India, one of the biggest automobile markets in the world plans to shift the majority of its railway and metro operations to electric-powered energy by 2025 with solar power being a key source of energy. Ambitious plans like One World One Grid can catapult this fuel shift at a swift pace given that enough investments are pushed into it.
How US is spearheading the movement
The authorities in United States have already installed more than 63,000 public charging stations in the country to reach the goal in time. One-third of these charging stations have been set up in California. Small vehicles like electric scooters and electric TukTuk have already become mainstream. These vehicles are already being used in a major part of South East Asia.
Automakers think the future of zero-emission vehicles is electric and they are working on ‘demand to production model’ while tracking the spur in the demand for electric vehicles in domestic as well as the global market.
How the West is leading by example
The top sellers of electric vehicles in 2018 were Tesla, BAJC, BYD, Nissan, Renault and others. Tesla sold a whopping 250,000 EVs in one year. This data is proof that EVs have become the new normal in many countries and the West remains at the top. More than 2 million electric vehicles were sold in US, Europe and China in 2018. Countries like India and China are ramping up the architecture required to support this way of transportation with charging stations being set up all across the country. The next five years are going to witness the entry of a lot of private players in the EV market to make the race even more exciting.
But, Europe has already started adapting to the new change. Nearly 50% of Norway’s vehicles are electric and it has been able to bring down the carbon emission levels remarkably. Iceland and Sweden are also following the path shown by Norway and the Nordic countries may be the first to fully shit to electric vehicles.
