The electric vehicle landscape is evolving rapidly as more automakers join in producing hybrid and fully electric vehicles. In the US alone, sales have climbed up by more than 40 percent since 2016, and experts predict that the largest automotive markets will be fully electric. So, what is the future of electric vehicles, and how will they shape our transport sector in the future? This article discusses how the new trends in electric vehicles will shape the future of transportation.
How Electric Vehicles Will Shape the Future
The "future is electric" is a common phrase among automotive experts and analysts. To help you understand what this statement means, let’s look at how electric vehicles will shape the future.
Gas Vehicles Will Be Cheaper
The supply and demand theme applies to every market commodity, including cars. When everybody starts switching to electric cars, there is a likelihood that gas-powered vehicle sales will go down, decreasing their value. It is also expected that manufacturers will focus on electric vehicles, which means gas-powered vehicle production will drop significantly. America plans to end the purchase of gas-powered cars by 2035, when the country plans to go fully electric.
Electric Car Prices Will Decrease
Ironically, electric car prices will also go down even with the phasing out of gas-powered vehicles. Large electric vehicle manufacturing companies like Tesla are pumping billions into research to find efficient and reliable materials to make electric car batteries that will be affordable in the future.
Currently, electric vehicle prices are on the roof. Automakers are taking advantage of buyers willing to spend ridiculous amounts of money to buy vehicles. That’s why they focus their production on luxury electric vehicles and produce a limited amount to capture the market. However, all this is expected to change as more battery companies come up to make cheaper and more reliable batteries.
A Greener Environment
The main reason why everyone is looking forward to going electric is to protect the environment. The carbon emissions from gas-powered vehicles are extremely harmful to the environment. This is further affected by the increased gas prices in recent months. That means driving an electric car is generally cheaper than a gas-powered one. You will also likely spend more when maintaining a gas-powered vehicle than an electric one. Automakers are also keen on developing safe cars for the environment and human use.
Registration Will Be Cheaper
Electric cars don’t have the same requirements as gas-powered vehicles. That’s why authorities have decreased the registration charges, and more people are switching to electric cars. You can be sure that these charges will further be reduced as more people buy electric vehicles.
The future is bright and beautiful if we all strive to make it better for all of us. Automakers have a huge task to shape the future we all deserve. As more researchers, engineers, and technology experts join the production, we can be assured of a reliable, efficient, green, and affordable means of transportation in the future.
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