Electric vehicles have entered the mainstream consumer consciousness through highly publicized car releases and targeted advertising. Considering that EVs only account for 2% of all auto sales worldwide, it’s clear that their journey into transforming the future of the automotive industry is just beginning.Â
Eco-conscious consumers may know the environmental benefits of buying an EV, but ultimately their purchasing decisions come down to cost. A look at Norway, whose auto industry is 75% EVs, may show one path forward for a greater number of drivers worldwide to purchase EVs.
In Norway, the government imposes taxes and restrictions that make it too expensive for most consumers to purchase a conventional vehicle.
It’s difficult to imagine those types of restrictions gaining ground in the US, but recent tax incentives have increased the popularity of EVs. States like California have already begun imposing strict emissions standards and aim to ban the sale of conventional vehicles in the foreseeable future.
As the popularity of EVs increases over the next decade, local and federal governments will be incentivized to improve the currently lackluster infrastructure of charging stations across the country.
Affordable and utilitarian EVs like the Ford F-150 Lightning, set to be released later in 2022, hope to win over rural drivers who will need a significant increase in their current ability to charge EVs during longer trips.
The changes made by major auto manufacturers like Toyota, Dodge, and GM signal that the widespread switch to EVs is accelerating. Each company has invested in EV development or major battery factories to compete in the growing EV marketplace.
In addition to the Ford F-150 Lightning, companies like Hyundai, Toyota, and Subaru have all announced launches of EVs targeting middle-class consumers.
While making the leap to an EV can feel like a big decision, the benefits make it a smart and economical shift. The cost of gas continues to rise, and the additional taxes aimed to curb emissions and discourage gas-powered vehicles only exacerbate this trend.
Electricity, on the other hand, is affordable and can be dispensed out of residential homes and garages. EVs require very little maintenance compared to gas-powered cars and run more quietly and smoothly. Longer trips may require additional planning till charging infrastructure throughout the US catches up, but this will only be a short-term issue.
The increasing affordability and tax incentives intersect with practical and stylish new EV releases. This combination predicts that 2022 will be a massive step forward for EVs. Consumers who understand the benefits will welcome this ride into the future.
