At present, many experts and carmakers have acclaimed the statement that the future of automobiles is Electric Vehicles. However, several factors determine the time it can take for the world to take a complete shift to EVs. Here, the factors are discussed in brief.
A recent report of BNEF has claimed that the global passenger automobile sales up to 10% will shift towards EVs till 2025. It can rise to 28% until 2030. The facts in these reports are hypothetical due to the presence of the following factors.
The automobile industry’s condition about Electric Vehicles
The condition of the automobile industry is not the same in all the countries of the world. You can expect a sharp rise in the sales of EVs in the leading countries, but the developing ones might lag behind.
The carmakers might not see promising results in EVs’ sales due to a lack of knowledge among the customers and a tendency to stick to the cars that run on petroleum. In the future, carmakers have to take the primary responsibility to boost awareness among people concerning an electric vehicle’s benefits.
Price and affordability of Electric Vehicles
To completely shift to electric cars, the car makers around the world have to make sure passenger cars remain in the condition of the passengers’ affordability. Many public transport systems have shifted to EVs in the leading countries, but people are not showing response to a few countries apart from a few countries.
The main reason for this is the price of the tickets. It is evident that the public would not choose to move on an electric bus if the ticket prices are higher than the conventional buses. In many countries, the price of an EV is reduced by governments to change consumer practices.
However, electric buses are still restricted in urban areas. Long-distance rides are still not tested as there is no data regarding this matter when it comes to some -significant countries of the world.
As of now, Europe and China are the two main countries that have boosted electric vehicles’ use. A reliable source report shows that these countries have already transformed 72% of public vehicles to electric. Both these countries can do it successfully as the government can afford the technology, and they have a tough economy and CO2 regulations.
Boom in manufacturing
The complete automobile paradigm shift to EVs can only happen if most companies start manufacturing these cars minimizing the petroleum counterparts. Now, this can take years. Moreover, there are questions related to the availability of raw materials and skilled workers.
It is impossible to mention a specific time when the global automobile industry moves towards the EV future. You can always expect the best to happen within another decade as most countries have started manufacturing EVs in bulk. Governments are also open with subsidies to support the act.