Setting aside the impact of the coronavirus pandemic, this year would have been that which electric vehicles grace the transportation industry. This sector has been growing over time, and at the moment there are about 100 models in the market starting with the hybrid electric vehicles (HEV), plug-in hybrid electric vehicles (PHEV) and finally battery electric vehicles (BEV). Anybody intending to go electric next year should read this. The Volkswagen ID.3 is currently the latest model whose rollout will help the automaker tread in this sector. Other models like Opel, Citreon and Peugeot have delved into the electric vehicle market.
On the other hand, Ford will be unveiling its Ford Mustang Mach-E. Elsewhere, Honda, Mazda and Lexus will be rolling out their battery electric vehicles. Toyota will unveil its RAV4 PHEV while Audi and Mercedes will launch passenger BEVs.
This year has been an eye-opener for the likes of the Tesla chief executive, Elon Musk, especially when the electric vehicle stocks received recognition because of their growing demand. Elon Musk graduated to the second richest person on Earth with Tesla’s value escalating to $500 billion which equates to all the other automotive companies combined. Elon’s SpaceX also deployed astronauts to the International Space Station and returned them to Earth safe and sound. This success has stirred Nikola, and Toyota’s likes conduct tests of their hydrogen fuel cell electric vehicle technology with models running on this technology gracing the streets. Nevertheless, investors have been cautious of cashing into this industry, seeing that electric vehicle batteries’ production contributed to vast quantities of indirect carbon emissions. The fact that electric vehicles can lower the high percentage of direct emissions from the transportation industry is what has motivated investors to trust this technology.
In a decade, the quantity of emissions that would have reduced is considerable. This situation would be because the electricity production running these systems is becoming eco-friendly combined with coal and peat reduction as energy resources. The problem in the next decade would be minimizing carbon emissions coming from the manufacturing sector. Nevertheless, the electric vehicle industry has welcomed supersonic models with affordable prices and variations distinguishing their versatility. The researchers are still exploring the variability of the batteries that will be featuring in these vehicles since they determine the mileage range that the electric cars would cover before requiring a recharge. Moreover, it is easier to approximate the emissions coming from hybrid electric vehicles by analyzing the quantities that would eventually come from similar battery electric vehicles.