The Rise of Electric Cars
The Rise of Electric Cars: Why Electric Cars May Dominate the Auto Market by 2040
Electric powered vehicles are set to be as cheap as gasoline models by the year 2025, putting them firmly in position to eventually overtake the consumer transportation industry completely. Muscle car enthusiasts won’t be impressed by their horsepower, but at this stage, electric vehicles are meant to be more economical, environmentally friendly, and somewhat of a technological novelty.
The main appeal doesn’t lie in the power of the electric vehicles’ engine yet, but in the future, electric vehicles will be much faster with much more torque. The novelty of electric vehicles is certainly a factor that may attract consumers. Electric vehicle owners may use them as a sort of political statement, or simply to show off to friends, family, and coworkers. However, overtime the novelty will fade and they will simply be looked upon as highly efficient, economical, and environmentally conscious modes of transportation.
It’s estimated that within 50 years, the known reserves of oil in the world will be completely consumed. Consumers and manufacturers will be forced to shift to alternate forms of energy to rely on. Electric powered vehicles are already beginning to gain a permanent foothold on the market, making them the projected vehicle of choice for the majority of consumers before the oil crisis really strikes.
In only the past four years, US electric vehicle sales have soared by approximately 750%. This number is expected to increase gradually each year until electric vehicles make gasoline or diesel powered vehicles totally obsolete.
Tesla’s Model 3 is the first of its kind as a reasonably affordable electric car now available to consumers all over the world. It costs $35,000 and qualifies for tax breaks in the US that trim the price down even more. Its successors are expected to be more and more affordable until finally oil dependency for consumer transportation is a thing of the past.
This infographic shows the current and projected future state of the electronic vehicle market based on figures collected over the past decade or so. If these projections hold true, the auto market will be greatly dominated by electric powered vehicles by the year 2040.