When it comes to electric cars, there have been many vocal doubters over the years. The main objections were that they didn’t sport modern designs, failed to provide exceptional performance, and were too costly. Among the early critics was Jeremy Clarkson whose love of high performance meant a thumbs down for going electric. However, times have changed. Fast forward a few years, and we’re now regularly seeing electric car charging stations on the side of the road. The car designs and performance issues are largely a thing of the past too. Here are four reasons why electric cars are the future of motoring.
1. Performance is Now Comparable to Petrol or Diesel
In the performance stakes, electric previously sat last behind diesel with petrol-powered vehicles always taking centre stage. But this is no longer the case. The likes of the Tesla range of electric cars from Elon Musk have turned things on its head. Whilst early attempts at mass-marketing electric cars such as the GV1 from GM didn’t take off, the latest Model 3 from Tesla has delivered on what buyers have wanted for years. Many are now considering electric cars for the first time. But do you know the facts about them? Check out this electric car quiz to verify that you’ve got your facts straight.
2. Costs Are Coming Down Quickly
Battery technology used to cost up to 10 times more than it does today. Just recently, a Chinese company successfully produced an electric car battery that will power a vehicle for a long enough period to never worry about low power warnings again. Also, we’re dealing with an S-curve with electric cars and all their components. This is where there’s a slow adoption rate initially where mass production is minimal and failing to drive manufacturing costs down. However, as the adoption rate speeds up as more people jump on the bandwagon, expanded production with greater efficiency leads to lower prices. This is beginning to occur with electric cars now.
3. Businesses Are Making the Switch
Businesses are beginning to make the switch to electric vehicles too. Large global companies like Lyft and Uber are changing their fleet arrangements to move to electric vehicles. Other companies are following suit too. The upfront costs are less of a concern for businesses that can visualise the long-term cost-saving potential for their fleet. Consumers also tend to follow the lead of businesses when a product overlaps both markets.
4. Governments Are Moving Toward Electric Vehicles Too
The work on reducing the damage that exhaust emissions cause to health has been something that the UK government and others have been addressing. So much so that the hole in the Ozone layer was recently reported to have been closed, indicating early success.
In the UK capital, London now has an Ultra Low Emissions Zone. This charges for older vehicles that don’t meet standards, making it cost-prohibitive for owners to still operate polluting cars. This gives consumers an additional reason to upgrade their vehicle, and possibly at that point to move over to electric.
The gradual push towards electric and away from petrol or diesel-powered vehicles has the energy giants worried. And they should be. Many car manufacturers have confirmed their intention to switch entirely to electric car manufacturing within the next 15-20 years, so the writing is on the wall.