Green energy is a top priority for the auto industry. Gasoline and diesel fueled vehicles are proven to cause significant damage to our environment and our dependency on oil has put a strain on our economy. The solution? Electric vehicles (EVs).
Auto Loan Solutions has analyzed the most recent EV data, which predicts the future impact of EVs on the transportation industry in their infographic “8 Reasons EVs Are the Future of Transportation.” This infographic will command the attention of even the toughest critics of EVs because these facts can’t be ignored. Most recent sales forecasts predict that in 2040, EVs will comprise 35% of new car sales. To accompany the increasing presence of EVs on our roadways, Tesla Supercharger stations are set to become available at workplaces, college or university campuses, residential buildings and transit stations, to name a few locations.
Top auto manufacturers have realized the value of investing in EVs. Ford has committed $4.5 billion to developing 13 new EV models by 2020. In the same time frame, Tesla plans to have built 1 million EVs.
The value of electric vehicles and their important role in creating sustainable transportation is clear. The popularity of these vehicles is due to several factors. Low battery prices and advanced technology certainly play a role, however with growing ultra low emission zones (ULEZ) – which only allow low or zero emission vehicles – and the push for the industrial sector to lower carbon emissions, EVs have become the obvious solution.
The benefits of EVs go beyond the environment, however. EVs have a lifetime of over 20 years and an average payback period of roughly four years. As well, new technology will allow EV batteries to be powered by the sun or wind, saving you battery charging fees and utilizing renewable energy.