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  • Apr 08, 2021

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Are Electric Vehicles Future of the Automobile Industry?

The world was almost taken by a storm when the first ever automobile was invented. In the history of mobility, this invention is rather groundbreaking considering its massive influence on mankind, and on this planet, at large. From economy, to work, family, and environment, there is not a single aspect in the society that has not been touched by the automotive industry.

However, with every passing year, as the dependence on automobile is increasing, we are finally able to see some of its negative impact on the environment, as well. To the point that despite being in the midst of an economic crisis, the industry is now compelled to think of ways to adopt alternative energy and innovative sustainable modes of transportation, in order to limit its impact on the environment, as well as, to keep the legacy of automobile going. It is the continuous quest that has led to the invention of electric vehicles, which, in the long run, is said to have the potential to minimize air pollution, reduce carbon emission, lower motoring cost, and eventually reduce global warming. If the demand for electric vehicles continues to grow in the future, it might also become handy in resolving the shortage of energy in the world due to overuse of natural resources.

How are Electric Vehicles Better?

The emergence of electric vehicle does not necessarily guarantee complete dominance over the future markets, however, its continuous growth will lead it to become an integral part of the automotive industry. One of the best things about electric vehicles is that they require very low maintenance, as well as, they come with the requirement of far lesser parts and services. While this does not mean that the requirement for servicing would go away completely, it simply indicates that auto repair will consume lesser of your budget in the future.

Furthermore, as flagged by the United Nation’s Intergovernmental Panel on Climate Change, humanity has not got much time left to change its gear to prevent global warming. Serious effects of climate change in the form of catastrophic phenomena including sea level rise, food shortage, widespread drought and wildfires could very well be expected to frequent in the foreseeable future, if we do not take necessary actions to reduce carbon emissions by at least 45% in the next decade. With the automotive companies making huge investments on widespread adoption of alternative energy for vehicles, carbon emissions is expected to be cut significantly.

Having said that, it is not like the concept of electric vehicles do not have their own set of disadvantages, because that is hardly the case here, or in terms of any technology, for that matter.

Current Roadblocks for Electric Vehicles

Among the common concerns that are currently considered as roadblocks for the electric vehicles market, the biggest is the acute scarcity of recharge points. Even if there are some electric fuel stations available, they are still in the development stage, but in most places, there is still not even an electric fuel station.

The next, but equally big disadvantage going strong for electric vehicles is its massive requirement for electricity in order to get fully charged, which might result into a huge amount show in the monthly electricity bill, proving it to be not very budget-friendly for the masses.

And lastly, between around 5-7 long hours for charging of electric vehicles, and a few minutes for gas powered cars, the electric vehicles does not currently prove to be very convenient for the always on the move generation.

Electric Vehicles and the Automotive Industry

As far as the automotive industry is concerned, the impact of electric cars on the industry has been quite slow, but with the rapid climb of alternative energy on the list of priorities for the government and the citizens, the tables might take a quick turn, and there may occur a shift sooner than expected. Alternative energy is undeniably expensive, which makes electric vehicles a rather expensive option for a car for most people at the moment. This fact itself hinders a large population from investing in alternative energy. However, keeping the severity of the matter regarding climate change in view, a surprisingly large number of people are even willing to bite the bullet, and switch to electric vehicles. There has been an evident growth recorded in the number of people willing to opt for an electric vehicle.

Also, with the rise in the number of people interested in investing in an electric vehicle, the manufacturing costs will not be as high as before, which implies, electric vehicles are likely to get cheaper and more accessible in the coming years.

Are Electric Cars the Future of Automotive Industry?

The growing concern for climate change and the gradual adoption of electric cars by the general public suggest there’s a good chance we’ll see a predominantly electric car market in the foreseeable future. A shift in perspective is already occurring among a lot of western countries, and partly even in India, and as the threat of climate change becomes more real, we are likely to see even more changes occur in the automotive industry. These transformative shifts will hopefully lead to cleaner air and a healthier environment for future generations.

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