Electric cars have already entered the market and more producers are ready to introduce newer models to buyers who are hungry for better and cheaper e-cars.
Thousands of articles have been written on the importance and benefits of electric vehicles. But, is the world ready for EVs? Here are four questions to determine the future of electric cars:
#1 When Will Electric Cars Become Affordable?
The term ‘affordable’ is unclear, let’s just say when will they be as affordable as a standard vehicle? It’s hard to predict but looking at the changing scenario, we can say it’s very much possible.
Electric vehicles include some very expensive parts, the most important of which is the battery. It’s not only expensive to buy but it can be very costly to run and maintain as well. Experts believe that lithium-ion battery pack must fall down to $100 per kW-hr to be on the same range as a gas engine.
Considering the price today is about $200, the distance is pretty huge. While batteries have gotten cheaper in the last few years, experts believe that it can take longer for prices to go down to $100.
Electric vehicles currently cost a lot more than a standard car. According to a 2019 study by the Massachusetts Institute of Technology Energy Initiative, a standard e-sedan “will likely remain upwards of $5,000 more expensive to manufacture than a similar internal combustion vehicle through 2030.”
It’s hard to predict when EVs will be as affordable as standard vehicles, but reports suggest that they’ll overtake the market by 2040.
#2 How Will State Policies Affect the Industry?
The Trump government does not seem to be a huge fan of EVs. It’s planning to take steps that may derail the momentum. Things may change in the future when the government change, but for now it’s hard to predict the political scenario.
The Transportation and Climate Initiative is going to play a major role in the near future. It intends to reduce pollution by controlling emissions from vehicles.
Some local governments appear to be in support of e-vehicles. State officials in California are drawing up regulations covering the use of EVs. They intend to have 5 million electric vehicles on the road in the next 10 years.
The industry can get a major boost if governments continue to support such initiatives.
#3 Are Drivers Excited about Electric Vehicles?
You can never make sales unless you have buyers, hence this question is of huge importance. Despite multiple options out there, Americans haven’t gone crazy for EVs yet.
California is the biggest market for electric cars, yet the numbers are not impressive in the state. Reports suggest that many households have no idea what an EV is or how it can be beneficial in the long-run.
This must change if manufacturers want to make decent sales. There’s a need to raise awareness. Manufacturers appear to be more concerned with producing luxurious and fast vehicles that often give the wrong idea to the buyer. In fact, some buyers believe that e-vehicles use gas in some form.
Makers need to persuade buyers to take an interest in what they offer. If this happens, then nobody will be able to stop EVs from making a mark.
#4 Will Charging be an Issue
This is one of the first questions that come to mind when one thinks of electric vehicles. There are gas stations everywhere, but we rarely see charging stations. Since e-cars are not very common these days, this might not be an issue, but if you want to persuade buyers then you must make it easier to charge vehicles.
The situation currently is pretty bad according to Matt Stanberry, according to an MD at Advanced Energy Economy He said:
“We are short on charging infrastructure across the board in every state, even the states that are doing better. We are all playing catch-up.”
The shortage is visible in California that has only 22,000 charging stations that are poorly distributed. According to experts, most people will use the ‘home dock’ to charge, there’s still a need to ensure buyers have the option to charge when they are out.
Companies are now joining hands with different businesses to make it easier to charge e-vehicles. Buyers need to be convinced that they will never be out of charge when they’re out to ensure they invest in EVs.