The advantages offered by electric vehicles will eventually make electric cars take over the world in the future. But what we need to understand is “when will be that future”.
Is Electric Vehicles the future?
The Bloomberg New Energy Finance report states that 58% of the total sales of all vehicles, in 2040 will be from the sale of electric vehicles. However, this will constitute only 33% of all the vehicles that one will find on the road during that time.
As per BNEF or Bloomberg New Energy Finance report, in the year 2025, the sale of electric vehicles will reach 10% of global passenger automobiles. Furthermore, the same figure is likely to reach 28% in 2030 and by the year 2040, it will be 58%.
It is anticipated that electric vehicles (EVs) will form 31% of the cars that will run on the road in 2040. Out of these, 67% will be municipal buses, 24% will be commercial vehicles (light), and 47% will be two-wheelers that include motorcycles, mopeds, and scooters. If we compare these figures with what is prevailing in 2020, it is just 33% of the municipal buses, 2% of light commercial vehicles, and 30% of 2-wheelers.
Electric vehicles are generally powered by an electric grid. EVs and plug-in electrical vehicles are some other names for electric vehicles. These vehicles get their power from the electricity that the battery generates and the electric grid supplies.
While AEVs or All-electric vehicles have one or more motors, the same applies to the PHEVs too. Power gets stored in the batteries when the vehicles are plugged into the grid.
Electric Vehicle Government Policy
It is an established fact that the use of electric vehicles will save the environment and reduce greenhouse gas emissions, what needs to be seen whether or not the country can set up an adequate infrastructure for charging these vehicles. Such a set-up be present in a city where the population exceeds 4 million. The target date for achieving these goals is by 2022.
Electric vehicles are the future of the automotive industry. More and more auto manufacturers will catch up and increase their number of electric vehicle models with every passing year.