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Revolutionizing the electric car industry in the world
The performance of the upcoming electric cars will be amazing, and luxury electric cars will be smoother and quieter than anything we have seen since the 1920s.
The size of the global electric vehicle market reached $246.70 billion in 2020 and the market is expected to grow from $287.36 billion in 2021 to $1.318.22 billion in 2028 with a compound annual growth rate of 24.3%, according to a report published by the “Fortune Business Insights” platform (Fortune Business Insights) recently.
It may seem - at first glance and to many people around the world - that electric cars are everywhere, We see them on the roads of rich and poor countries alike, For example the Nissan Leaf electric car is widespread in developing countries such as Jordan and Egypt.
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| Revolutionizing the electric car industry in the world |
It is rare not to see one of these cars while you are on the road in the Middle East, At the same time Tesla’s Model 3 has become the best-selling car in Europe recently and it is clear that these vehicles are increasing in popularity day after day, However, from a broader perspective the era of electric vehicles is only just beginning.
Digitally: Electric car sales currently constitute only 2% of the global car market according to the Pew Research Center, If we take the United States as an example only 200,000 cars were registered during the first half, Last year in this vast country this is the same number of vehicles that Toyota sells in one month.
However there are countries that are moving almost completely towards electric cars such as Norway where sales of these cars constitute 75% of the market which is the highest percentage in the world and perhaps the real reason behind this is the government decisions in Norway that made it illegal to buy anything that is not electric.
It is expensive which is why electric vehicles are the economically viable option for the residents of this country according to what American writer Tim Stevens mentioned in an article recently published by the CNET platform.
Aside from the high taxes electric cars will become economically feasible day after day for the various populations of the world especially with the rise in fossil fuel prices and the new inventions and innovations that occur every day to improve the performance of these vehicles such as increasing the distance traveled on a single charge and shortening the charging time itself.
As a result experts expect electric cars to become widespread long before the end of the current decade as these vehicles will become the logical choice for the majority of buyers according to the writer.
The future of electric cars:
Stevens points out that all major automakers have major programs to manufacture electric vehicles whether it is Toyota's new battery factory worth $1.29 billion or General Motors building two factories - not one - to manufacture these cars.
Even Dodge which specializes in manufacturing large vehicles that consume fossil fuels recently announced its plans to produce an electric car by 2024.
But why this momentum? Why are car manufacturers racing to switch to electricity?
This may be mainly due to tightening standards and laws aimed at protecting the environment and reducing gas emissions to a minimum, For example the state of California - which is the largest car market in the United States - plans to completely ban the sale of gas and gasoline-powered cars by 2030.
There are many American states that are moving this way and many countries and cities in the world are moving in the same direction.
The city of Paris - for example - announced that it will ban everything that moves on its roads except electric vehicles in 2030.
Stevens believes that - apart from laws and legislation - electric vehicles simply provide a much better driving experience than regular cars, They are quieter, smoother more reliable, and easier to maintain with fewer moving parts, With modern innovations, charging has become faster and easier.
The electric cars coming very soon will travel about 500 miles on a single charge which is more than 8 hours of driving continuously and without stopping, This is in addition to About the huge savings in gas and gasoline prices.
Currently the cost of charging a Tesla Y Roadshow is $9.6, during which it travels 330 miles without stopping, If we compare it to the price of gasoline that a small four-wheel drive car needs to cover the same distance you will need $36.3 and this is in America where the price of gasoline is cheap compared to many countries.
For transport companies that operate fleets of vehicles the savings will be enormous in every sense of the word and some users of electric vehicle fleets confirm that the reduction in cost reaches 20% thanks to savings in fuel and maintenance.
The revolution is already happening now:
Stevens confirms that the electric car revolution is already happening as charging networks have become more widespread now than they were just a few years ago and if many rural areas are still not covered and rely on home charging this is on the way to disappearing and it is also true that electric cars are not covered.
They are still more expensive than regular cars, but that is about to change too.
For example: Ford announced the launch of its new electric vehicle the Ford F-150 Lightning during the current year 2022 at a price of up to 40 thousand dollars with a discount of about 12 thousand and 500 additional dollars.
As incentives for buyers which means that its price to the consumer will reach about 27 thousand dollars only which is a very normal price and competes with the price of gasoline-powered vehicles if we add to this its ability to travel a distance of 300 miles on a single charge in addition to saving the rental fees for expensive generators as Through which the work site can be operated it will certainly be the most suitable choice for consumers.
With the emergence of more affordable electric vehicles such as the Hyundai Ioniq 5 the Toyota BZ4X and the Subaru Solterra during this year the trend towards... Buying electric cars would be the ideal option.
What does the transition to electric vehicles mean?
Stevens answers this question by saying that this means a significant reduction in operating costs especially if drivers can charge at home while street charging stations will cost more but in the end municipalities will think in a logical and wise way as the City of London did recently, for example where 1,300 street lights have been converted into chargers.
What is even more exciting - the writer explains - is that electric cars will be more fun to drive as well and anyone who has sat in the driver’s seat of a Tesla car for example knows the joys of torque for electric vehicles but we are only now beginning to know what electric cars can do thanks to unlimited power, And the most advanced traction and stability control systems.
Accordingly the performance of upcoming electric cars will be amazing and luxury electric cars will be smoother and quieter than anything we have seen since the 1920s while affordable electric cars will be incomparably better than other similar fossil fuel-powered options today.