Future of Electric cars: We discovered that it took more than two decades to sell the first million electric vehicles. As a result of the sale of one million electric vehicles in just four to five months, who has the audacity to predict what the shape of future electric vehicles will look like in the next thirty to forty years? One thing is certain: electric vehicles will almost probably be the mode of transportation of the future.
In 2020, the US car market shrank by 23%, however electric car registrations decreased less than the market. In 2020, 295 000 new electric cars were registered, 78 percent of which were BEVs. Their sales share increased to 2%. Tesla and General Motors, which account for the majority of electric car registrations, reached their maximum federal tax credits in 2020, decreasing federal incentives.
Future of Electric Cars (Global):
After a decade of strong expansion, the worldwide electric car stock reached 10 million in 2020, up 43% from 2019. In 2020, BEVs will account for two-thirds of new electric car registrations and stock. China has the largest fleet with 4.5 million electric cars, while Europe will grow to 3.2 million by 2020. The economic effects of the Covid-19 pandemic impacted the worldwide car market. New car registrations fell by a third in the first quarter of 2020. Despite a second-half surge, overall sales fell 16% year-on-year.
Despite dropping conventional and overall new car registrations, global electric car sales share increased 70% to 4.6 percent in 2020. A new electric car was registered in 2020. Europe led the way with 1.4 million new registrations. China had 1.2 million new electric car registrations, and the USA had 295 000. (Report by iea)
Electric cars are critical to the auto industry’s future and to the ecology we all rely on. It’s still unclear how the electric car will look and whether the general public will embrace it. The depletion of oil supplies, concerns about noise and air pollution, and the difficulty of recycling gasoline and diesel-powered cars all seem to be driving the electric car’s development and success.
Of course, the world’s reliance on oil and its eventual extinction prompted substantial research and invention into a new fuel and transport But now there’s even more reason to ditch the oil burner for something greener. Is hydrogen the future? In my opinion, no, because extracting hydrogen consumes more energy than it produces, making it non-green at the moment.
Adoption of Electric Cars is accelerating rapidly:
Similar to a trickle charger, hydrogen fuel cells deliver steady electricity. A battery pack is needed to power the variable speed electric motor. Hydrogen cars are battery cars with fuel cells and hydrogen tanks. Then there’s safety and the prohibitively expensive hydrogen infrastructure. Conversely, the global shift to electric vehicles is gaining steam. Fast-tracking charging infrastructure and future laws for charging boxes in new and existing homes will require major R&D investments. Contrary to popular belief, there are only four million electric cars on the road today, with over a billion petrol and diesel cars.