“the Rise Of Electric Vehicles And Its Impact On Electricity Demand” – Electric cars have been around longer than you might think — they were first invented in the early 19th century — but were quickly overshadowed by their gasoline-powered counterparts, explains an article by Stephanie Thomson at the World Economic Forum. .
But electric vehicles may be set for a renaissance, according to Bloomberg – electric vehicles are poised to get much cheaper!
“the Rise Of Electric Vehicles And Its Impact On Electricity Demand”
One reason for the price difference between electric and conventional vehicles is scale. Of the billions of cars on the world’s roads, only 1 percent of new cars are electric, which means higher production costs. Another is the cost of the batteries that power electric cars. And this is where the big changes are happening. Battery prices dropped 35 percent last year, and that’s a trend that will likely continue.
The Inexorable Rise Of Electric Vehicles In China
As the cost of batteries drops, electric vehicles will soon — as early as 2022, according to Bloomberg — be as cheap as conventional cars. In less than 30 years, a long-range electric vehicle could cost around $22,000, and by 2040, market share will have grown from 1 percent to 35 percent, according to a Bloomberg analysis.
While these developments are good news for those who see electric cars as the key to a greener future, it puts even more pressure on the oil industry. But OPEC isn’t so worried about electric cars reducing demand for fossil fuels in the near future. “Without technological advances, battery-electric vehicles are not expected to gain significant market share in the near future,” the organization said in its annual World Oil Outlook. The report predicts that in 2040, 94 percent of cars will still be powered by fossil fuels.
Sales of new passenger cars fell 15.9% to 5399,000 in 2020 worldwide as of April 3, 2021 Total Chargeable Electric Vehicles (as % of new cars sold) worldwide increased by 14.4% to 3.30% in 2019 April 12, Sales November 12, 2020 The total number of rechargeable electric vehicles worldwide increased by 6.14% to 2 lakh 102 thousand on November 12, 2020. After more than a decade, the rise of electric cars is gathering pace. In August last year, one in every 12 new cars sold in the UK had a plug-in. Across Europe, sales of plug-in vehicles increased by a third, and by the end of 2018 the number of new EVs sold globally reached the 1 million mark. Those figures will still be far behind the sales of petrol and diesel cars – around 85 million off, in fact – but it is gaining momentum.
The UK government has pledged that by 2030, at least half of all new car sales, and up to 40% of new van sales, will be hybrid or electric as part of its ‘Road to Zero’ strategy. By 2040, the plan aims to end the sale of new petrol and diesel cars, and just 10 years later, it wants almost every car on the road to be zero-emission. In tandem, traditional carmakers – faced with major disruption to the way they operate – have jumped on the EV bandwagon, including BMW, Nissan, Toyota, Hyundai, Jaguar and Volkswagen. As fuel prices rise, government subsidies along with the appeal of cheap, battery-powered cars have made EVs an attractive choice. Not to mention the environmental benefits.
European Ev Market Analysis: Strong Growth Continues As Plug In Vehicle Registrations Rise In April
Yet electric cars are far from new. Scottish inventor Robert Davidson created what is widely considered to be the first “electric car” in 1839. In the decades that followed, its technology and design evolved and, in 1897, the first electric taxi hit the streets of London. . Nicknamed the Hummingbird because of the sound it made, but officially Bersey after the designer Walter Bersey, it was London’s first “self-propelled” carriage and, at its peak, had a fleet of over 75 aircraft. he As electricity became more widespread in the 1900s. , charging became easier and even Ferdinand Porsche, the founder of the Porsche car company, built an electric car called the P1 in 1898.
It was Henry Ford’s 1908 Model T that hit the electric car’s pace, though. It was half the price of an electric, and easy to drive. Another nail in the coffin of the electric car came with the discovery of Texas crude oil in 1912, making gasoline relatively cheap and abundant. It wasn’t until the 1960s that manufacturers took a renewed interest in AV technology. Many concepts were developed, and an “electric car” became the first vehicle to walk on the moon.
The turning point came in 2003. A group of engineers founded Tesla, a company that wanted to prove to people that “driving electric doesn’t have to be a compromise.” Its roadster was launched five years later, capable of reaching a range of 350 km. More recently, as part of CEO Elon Musk’s 2016 “Secret Master Plan,” the Tesla Model 3 and Tesla Semi Truck were introduced, stating that “owners could save at least $200,000 just on fuel.” Prices based on one million miles.”
These developments created a domino effect. Volvo and BMW have committed to electrification, inspired by Tesla’s boom and changing consumer trends, by announcing that every car they make from now on will be partially or fully electric. Mercedes is promising the same from 2020. Electric taxis are back on London’s streets, following the launch of the plug-in TX, and more than 2,600 diesel-electric hybrid buses run through the capital, making up 30 per cent. London’s fleet and reduce emissions by 40%.
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But while electric vehicles gather traction, infrastructure is lacking. According to the 2017 English Housing Survey, a third of households in the UK have no off-street parking or places to charge their car. Businesses face a similar struggle without the expertise required by technology. The key is to use existing infrastructure to bridge the gap, while leveraging industry expertise.
Retailers, from shopping centers to supermarkets, as well as workplaces, can partner with energy providers to install charging points of great cost or concern. E.ON’s EV experts will work with businesses to understand their needs and plans, and help develop the right solution for each business or workplace. Once installed they are fully managed and controlled by E.ON’s 24/7 operation, with a live monitoring system that ensures the smooth running of all EV chargers. By 2020, the company plans to have a network of more than 180 ultra-fast chargers capable of charging a car with a range of 400 km in 30 minutes.
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It is an investment that has other far-reaching benefits as well. With 13 million electric vehicles expected on the road in the coming years, charging points can give customers a reason to choose your business over a competitor. As the demand for EVs increases, so too will the need for functional charging facilities. Forward-thinking businesses that invest in this will be more attractive employers for potential staff. Increase staff loyalty by offering charging points in and around the office.
Rise Of The Used Electric Car Market In The Us
An electric vehicle may also become the preferred choice for a company car. The UK government’s plug-in grant offers a discount on the cost of new low-emission vehicles – up to £3,5000 depending on CO2 emissions levels and the zero emissions threshold – meaning a fleet of EVs is a worthwhile investment. for business. These workplaces are more likely to be the fuel stops of the future, replacing traditional filling stations, so adding a charging point could put them on the map.
What’s more, a network of charging points can increase footfall to the surrounding area, support the community, and feed into local clean air initiatives. Copenhagen recently installed 320 charging posts capable of supporting 400 electric vehicles as part of the Drive Now scheme. Studies suggest that a single car in this EV fleet has replaced at least six private cars, which has the potential to reduce traffic.
This isn’t the only benefit to people using Charge Points, either. A recent study from Sustainable Brands found that more than 80% of us consider a company’s corporate social responsibility when recommending brands to others, and nearly 90% are more loyal to such brands. Just getting a charging point can increase the reputation of the business.
Beyond customers, 7 out of 10 business leaders are adapting their working models to become more sustainable, including investing in electric vehicles. Since 2011, the government has offered a plug-in car grant, and it has pledged an extra £400m in 2017 to reward businesses that build and install charging points. These grants include 35% of the value of a car, up to £3,500, and 20% of the value of a van, up to £8,000. A full charge for an electric car usually costs between £2 and £4. Compared to £13 to £16 when driving the same distance in a petrol or diesel car. Plus, over a
Infographic: Visualizing The Rise Of The Electric Vehicle
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