The auto industry has been forced to evolve in the past several years with the rise and fall of gas prices and the push for auto companies to manufacture low-emission vehicles.
The most important evolution in transportation technology is the electric vehicle (EV) – a sustainable solution to our current gasoline and diesel fueled vehicles. This new technology has enabled the auto industry to meet worldwide pollution standards.
The below infographic, “8 Reasons EVs are the Future of Transportation,” was created by Auto Loan Solutions to shine a light on the latest data and insights into the ever-growing influence of these vehicles.
The power of EVs to offer sustainability to our environment, economy and roadways is undeniable, despite the doubt some skeptics place on their power.
Battery prices are continuously dropping, making EVs more economical than traditional vehicles. As well, what was once a barrier in the way of EV development, the number of charge stations are steadily increasing. EVs also have a short payback period and a lifetime of over 20 years. Increasing ultra low emission zones (ULEZ), the development of new technology and the impact of EVs on the reduction of carbon emissions in the industrial sector make these vehicles the clear choice for our future transportation.
This revolution is quickly approaching. Major auto companies have invested heavily in this technology. Tesla has plans to build 1 million EVs by 2020, and Ford plans to have developed 13 new models with a $4.5 billion budget within the same time frame. Unsurprisingly, sales forecasts predict EVs will make up 35% of new car sales by 2040.
As you’ll find out from reviewing this infographic, EVs will soon become a reality for many drivers, auto companies and transport sector companies, and the impact of EVs on the environment will help create a greener future.