Electric vehicle revolution: the growing popularity of Electric Vehicles (Evs)

Electric Vehicles, or EVs, are becoming more and more popular throughout recent years. Experts say that within the next 25 years the biggest part of the cars will be electric. Global sales of the electric transport in 2021 doubled the 2020 results and reached 6.9 million. You may compare this number with 2012, when only 120 000 electric cars were bought all over the world. In 2021 more EVs were sold each week. It is expected that in the scale of the global market the value of power for EV charging will increase over 20 times by 2030. It is one tenth of the current diesel and gasoline market value. In Europe the EU commission aims to replace all the vehicles with the electric ones by the year 2035. In the USA, by 2030 50% percent of the cars sold will be non-emission.

Electric cars are starting to become mainstream in America after they have paved their way into Chinese and European markets. Battery powered cars are now one of the fastest segments of the auto market. Sales are jumping 70% percent during the first nine months of this year compared to the same period in 2021. Petrol powered vehicles are still dominant over the market. However,in the near future the picture might change significantly.

Prices benefits

How much does it cost to charge an electric vehicle? Way cheaper than a non-electric car. One of the main benefits of choosing an electric vehicle is saving finances. This advantage is long-term though. The fuel, gasoline in particular, is getting more expensive. As a result, there will be more electric cars on the roads all over the world. In comparison, the cost of electricity, necessary for charging an EV, is almost 40% more affordable. Of course, this comparison is valid for the same size vehicles and traveling for the same distance. It is even cheaper to charge EVs from solar panels or at free charging stations.

Compared to non-electric cars, Battery EVs, or BEVs, have less moving parts. This leads to a simple and less frequent servicing. Moreover, it is less costly, too. Electricvehicles don’t require fuel injection systems, exhaust systems, radiators, etc. Sure, after some time EV batteries will be less efficient and deteriorate. But most vehicle manufacturers promise that their devices will last for at least eight years.

Environment isn’t harmed

The process of driving an EV produces zero harm to the environment. This is achieved due to the absence of the exhaust emissions that are released by the traditional petrol or diesel cars. Although some amount of greenhouse gas because of the power stations. There is a solution for this problem too – a solar PV system will help you charge EVs and minimize the gasses released from the charging stations.

 In the long run EVs benefits are more significant compared to diesel or petrol cars, but in the shorter term the manufacturing process is more detrimental. It is so because of the mining for materials involved.

Countries around the globe agreed to implement the Paris Agreement and restrict the effects of climate change. And to complete this goal fundamental changes are essential. The transport sector is considered to be one of the most carbon-intensive of the economy on a global level. It should be under strict control.

 The dominant source of energy in flight and road transport at the moment is oil. In order to decarbonize the sector, it’s required to electrify at least the road transport. According to recent studies, the shift to electricvehicles will result in huge emissions reduction. And that is before the full decarbonization of the sector.

High performance

 The first electric vehicles were produced a long time ago. Since then, car makers worldwide have significantly improved the processes and technologies required to release new EVs. As a result, nowadays it’s possible to get an electric car in which you can drive hundreds of miles on a single charge. The overall performance of these vehicles has been improved greatly. For example, Tesla’s Model S is able to outperform traditional sports cars.

 More and more users of electric vehicles say that they have never had any troubles with running out of energy and not being able to find a charging station. This is another reason why nowadays people start to trust EVs more and are ready to give them a try. New customers are also interested in the fact that some maintenance-free electric vehicles are less expensive compared to the gasoline ones.

Government support

Apart from the benefits mentioned above, there is another reason to opt for EVs. Sustained policy support is an important aspect of good electric cars sales. It is pursued due to many political and economical motives. While EVs sales grow, the reliance on foreign oil goes down. This way many countries become less dependent on the fossil fuels producers, who might be situated in politically unstable regions. Oil import bills also decrease, trade becomes more balanced and citizens’ health condition improves.

Overall benefit for a country is the fact that urban air quality gets better when there are more electric vehicles. As a result, there are less premature deaths and major illnesses. Moreover, health costs decrease as well.

Governments in some countries even offer incentives for buying EVs. The number of countries that aim to reduce the amount of internal combustion engines or aggressive car electrification is growing. Some car brands are going to electrify their lineups on a bigger scale. Right now there are around 500 EV models on the market. At the same time, five times more EVs were introduced in 2021 compared to 2015. So there is definitely an interest in electric cars that is growing and demanding more variety.

Governments suggest financial benefits to people who buy the eco-friendly types of cars. These include upfront costs of the cars and discounts on registration fees. The state support helps overcome some barriers and obstacles for those who are going to purchase an electric vehicle.

Besides that, state authorities may apply economic pressure towards car brands. They require from them a certain percentage of vehicles produced to be electrical. As a result, lots of types and models of EVs are available on the market.

Auto manufacturers commit to electric vehicles

Car brands have strategies that are aimed at increasing the speed of electrification of new vehicles. The majority of big car companies are going to roll out lots of new EVs models. Automakers are commiting to end fuel-empowered cars manufacturing. In order to succeed in it, car brands are investing billions of dollars over the next ten years and building new plants for battery production.

Market forecast

Are EVs really on their rise? According to Mobility Trends, electric cars are likely to increase up to 22% global share in 2030. Allied Market Research predicts an increase of the global EV market size to $567,299.8 by 2025. Nowadays the largest buyers of non-fuel cars are Norway, China and France. However, North America is expected to be the biggest market in 2025. Even though there are people who doubt that the electric revolution will replace the petrol and diesel cars, EVs become more numerous and popular day after day.