Introduction
The future holds different prospects for the coming generation. With the rapid development in the electric automotive industry, more sustainable and eco-friendly electric cars (EVs) are becoming the future of transport. The ability of EVs to give a cleaner and smarter experience aids in the electric vehicles’ sustainable future. The electric vehicle is a term used to donate to the mode of transportation via land, air, or water, which uses electricity as a power fuel and uses an electric battery or fuel cells. The idea of electric motors is not new. Scientists did several experiments to make electric vehicles the future of the transportation industry. In 1834, the first electric motor, powered by a battery, was invented by Thomas Davenport, and experiments are ongoing to make e-vehicles the future of transportation until the present day.
Historical Evolution of e-vehicle Technology
The popularity of electric cars is not only related to the future, but these cars were incredibly popular in the US in the 1900s. Nevertheless, the past didn’t support the mass-scale production of electric cars. The two factors responsible for the decline of electric cars usage were the rapid production of Ford petrol cars at affordable prices and the instant availability of oil at a low price around the globe. Around 1970, the technology of the electric vehicle was renewed with the introduction of CitiCar, followed by General Motors’ EV1 in the 1990s. Toyota Prius welcomed the approaching century with the mass induction of hybrid cars in the automotive industry. Tesla’s Roadster put an end to the prevalent problems of power as well as range in the pursuit of electric cars.
Prevalent EVs Technology
The revolutionary technology of electric vehicles is not limited to cars only. It includes other means of transportation like logistic vehicles, public transport, aircraft, and boats. This infusion of electric power energy promises that the future is electronic. Although the use of electric technology in logistics is limited due to the belief that these freight vehicles would be expensive and impractical, several firms are undertaking experimental progress to manufacture e-logistics vehicles. The use of electric buses is common in China and UK. In the UK, around 38% of the railways are electrified. Electric tram technology is spreading like wildfire around the globe. EV technology in aircraft and boats is limited. The underlying problem is the use of effective technology to enhance the battery’s energy and endurance.
Electric Vehicles’ Sustainable Future
The future of this technology fundamentally relies on three main factors. These factors are governmental regulation, consumer behavior, and the induction of innovative technology.
1-Governmental Regulations:
Governments around the globe need to introduce long-term regulations and incentives to promote the steady growth of electric vehicle technology. The quest for attaining a sustainable future with e-vehicles mainly relies on their eco-friendly attribute. Deteriorating the environment and worsening natural calamities by the high release of destructive elements in the environment aids in the promotion of sustainable development of electric vehicle technology. The European Union introduced its new policy, ‘Fit for 55’, which aims to lessen greenhouse gas emissions by 55% through 2030. Furthermore, incumbent US president Joe Biden stated that they aim to achieve 50% electric vehicles in the automobile sector around 2030. Therefore, governments are increasingly policing to realize e-vehicles as the future of transportation.
2-Consumer Behavior:
The changing consumer behavior in the post-pandemic world further strengthens that ‘the future is electric.’ The increased use of shared transportation in the quest to achieve environmental conservation led to the growth of e-vehicles. Mckinsey consumer report revealed that the use of e-scooters has risen to 60% in the prevailing year. The underlying motivation is to reduce the harmful emissions of fuel-based vehicles. Furthermore, e-vehicles as the future of transport are ensured by the consumers’ behavior towards the use of EVs to conserve the environment.
3-Induction of Innovative Technology
Electric vehicles have greatly impacted the automotive industry. The automotive industries are engaging in the development of new ideas to make the future electric. The novel ideas of electric, autonomous, and shared mobility are a clear manifestation that the future is electric. The automotive industry has attracted more than $400 billion in the last decade. This innovative development would help to reduce the amount of EVs and would promote shared mobility in the future. Electrification holds immense importance in the automotive industry to realize the electric future. The launch of new electric vehicles in the market is crucial to the adaptation of the public to this new norm.
The Impact of Electric Vehicles on Automotive Industries
The eco-friendly and reduced-cost properties of e-vehicles put pressure on automotive and industrial sectors to admit that the future is electric. Although there is variation among different regions of the world in the promotion and production of EVs, Europe, China, and the US have devised EV-centric policies for their automotive, industrial sector. As Europe is a regulation-driven zone with high availability of subsidies, European automotive giants are pursuing the innovation and production of electric vehicles. In China, the strong consumer pull has made the industries join the quest to achieve electric vehicles’ sustainable future. Mckinsey expects a 45% percent penetration of EVs around the globe. To achieve the targets, 75% of passenger cars are expected to penetrate consumers by 2030. The impact of electric vehicles on automotive industries is greatest in Europe. With a rich and aware population, Europe is electrifying the automotive industry at the fastest pace. Many states in Europe have already announced an end to the sale of ICE by 2030. Even some brands have already committed to the European Union that they will sell no other car than e-Vehicles by 2030. The EU goal of zero-emission by 2035 is to realize the prediction that the future is electric.
Electric Vehicles: The Future of Transportation
The eco-friendly solution has encouraged the use of electric vehicles around the globe. It is predicted that the production sale of electric vehicles is expected to touch 45 million units per year in the year 2040, when the EV cars would number around 323 million. The challenges lie in the face of batteries production and its effectiveness. Although regular vehicles are manageable with the energy produced by batteries, large vehicles found their power output less viable. These electric vehicles can reduce carbon emissions, thereby addressing the climate change threat. Efforts are needed across the globe to ensure electric vehicles have a sustainable future.
