Electric vehicles (EVs) have been under the spotlight for some time. 2019 saw the sales of electric and plug-in cars tip the two million sales mark, and ever since then, the trajectory has been clear. With more and more governments pushing for zero emissions, there has never been a more pivotal time for the motor industry.
In essence, we are in the middle of the biggest car revolution since Ford led the charge in 1913. Today, you will find Volkswagen’s e-tron SUV gracing the showroom floor. The giant has proved that the once combustion engine-dependent company can give Tesla a run for its money!
Now that the bar has been set, here are 5 reasons why electric vehicles are the future of the motor industry:
All revolutions have a tipping point, and the rise of the electric vehicle is undeniably in full swing. The fact that many governments around the world are setting targets to ban the sale of all new petrol and diesel vehicles shows the inevitability.
On UK shores, Boris Johnson has set 2030 as the date. By then you will no longer be able to purchase a traditional combustion engine vehicle unless it is second hand. By 2035, even the much-loved hybrid will be outlawed.
Zooming in on some of the big motor brands, General Motors have claimed that they will only manufacture electric vehicles by 2035. Ford have gone a step further and announced that all vehicles sold in Europe will be electric by 2030, and VW have stated that 70% of its sales will be electric by 2030.
The technology has spoken. The brands have spoken. Global governments have spoken. The electric vehicle revolution is unstoppable.
Range has been part of the topical debate surrounding EVs for some time. Despite Tesla Model S Long Range reaching up to 370 miles in the summer months, the average EV range overall sits around the 200 mile mark.
This is set to change.
As battery prices continue to fall, range anxiety will be defeated by more powerful solid-state technology, with a respectable recharging network to match. With a range of financial incentives to buy EVs, such as Germany’s $11,000 subsidy and the UK’s £2,500 plug-in grant, buying an EV is becoming more a question of when rather than how.
VW’s answer to the EV market, is its launch of “Accelerate.” Headed up by brand chief Ralf Brandstaetter, the strategy aims to have market shares from China and the US of 50% by 2030. Alongside this surge, VW are investing around $19 billion in digitilization, hybridisation and e-mobility until 2025.
If radical transformations are anything to go by, then the proof is in the pudding. The German Group who famously own Lamborghini, Porsche, Bugatti, SEAT and Skoda is spending $34 billion over the next five years to produce and electric or hybrid version of every vehicle in its lineup.
By 2028, the group plans to lauch 70 new electric models, and by the end of 2030, they want four out of ten car sales to be electric. Perhaps the biggest gamble the brand has made since WWII, if the German Group’s play to dominate the market is successful with the launch of their “ID” range, there really is no turning back.
Zooming in on the UK, the world leading Ultra Low Emission Zone (ULEZ) in Greater London has already seen significant change in the air quality around the city. WIth nitrous oxide (NOx) and particular matter (PM) limits scaling over the EU’s legal limits, drastic action needed to be implemented and quickly.
Prior to its launch in April 2019, some of the areas most vulnerable were living with the affects of illegal toxic fume levels. With 360 primary schools within the illegal limit zone, there was high concern over lung development, and the pollutants ability to make health conditions worse.
Now any vehicle that doesn’t meet the strict ULEZ guidelines has to pay a daily charge of £12 to enter the zone. That’s midnight to midnight, 7 days a week, all year round bar Christmas Day. So unless you have a pure EV, hybrid or Euro 5 petrol or Euro 6 diesel car, you have to pay the extra tax – and even that is set to change.
Alongside the government’s “Green Industrial Revolution” ten-point plan laid out in 2020, which includes zero emissions by 2030 – other major UK cities have rolled out their own Clean Air Zones (CAZ). The likes of Edinburgh, Bristol, Liverpool, Birmingham and Oxford now implement an £8 charge to drivers if their vehicles don’t reach the emissions standards.
Elon Musk’s unstoppable Tesla brand sold over 220,000 electric vehicles in 2018. In this industry defining moment, this powerhouse knocked the likes of Toyota – the world’s second largest car manufacturer – out of the water. Toyota managed to sell a mere 1,000 EVs in the same year.
Fast forward to today, and the EV race is going strong. Tesla are no longer the only reputable EV brand. With VW, Nissan and Jaguar holding their own, the market has become far more affordable for the average Joe. What’s more, you can even bag yourself a second hand bargain at your local garage.
Traditional car making is quickly becoming a thing of the past, and the range of models from SUVs to coupes, hatchbacks to sports is a testament to the power of EV technology.
There’s never been a better time to make the switch from combustible to EV. With a range of government incentives and schemes available, as well as the growing costs to travel in your nearest city, electric vehicles are here to stay.
For most of us, simply buying a brand new car outright is a big no. Fortunately, car finance makes getting a new car much more manageable and gives you access to come of the best motors on the market.
With a range of financing options available including bad credit car finance for those who have struggled to be accepted before, getting your hands on a new set of wheels is more possible than ever before.
Electric vehicles are here to stay. With the motor industry racing to produce the fastest, most efficient and longest range cars, the race is on. Are you ready to get on the starting line?
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