The global market for electric vehicles (EVs) is growing with a CAGR of 21.7 percent. It will take over traditional fuel-based vehicles in 10 to 15 years.
Top automobile companies are working on developing an ecosystem where renewable energy sources will power all vehicles.
The government also incentivizing the automobile industry to reduce the dependency on oil base industries. We need a sustainable solution to power our economy. Electric vehicles will play a critical role in transforming our transportation system.
Alternative solutions have already depicted exponential growth. Also, it will allow us to reduce carbon pollution.
Here are the top five reasons why electric vehicles are the future.
1) Cost saving
Batteries power electric vehicles. Stored energy is converted in the AC/DC to power the motors attached to the wheel. There is no combustion engine or any moving part that would consume energy. Stored energy is directly sent to power the wheel, saving energy loss in the process.
Because there are no engines, the maintenance cost significantly reduces. Think about the engine oil, repair, and replacement of the broken parts. Traditional cars need frequent repair and check to ensure the parts work as expected. Any fault could result in engine damage.
Car owners have to spend money on maintenance yearly, which adds more expenses. In contrast, electric vehicles don’t require major repairs. Everything is directly connected to the battery system. Modern technology, such as dashboard screens, cameras, and censors, is easy to replace.
Over time, these devices will be affordable, so replacing the digital device would be relatively inexpensive. Autonomous cars are easy to maintain because they can indicate the problem immediately. You can replace the specific part, and your car become new again.
Therefore, the cost to maintain the electric car is much lower than the engine-powered cars.
2) Eco Friendly alternative
Rising CO2 emission is becoming a significant challenge to the global environment. Earth is heating up, and global warming is real. We must accept that our industrial revolution has caused great damage to the earth. If we do not replace the CO2-emitting industries with a cleaner alternative, then we will have to pay the price in the future.
The good thing is people are aware of the consequences CO2 emission causes to Mother Earth. Therefore, everyone wants to shift to sustainable solutions. Cars are the easy transition everyone would like to adopt and make a reality. The numbers of EV sales globally clearly indicate that people are ready to change and progress toward sustainable and cleaner energy resources. It will boost the sale of the EV globally.
3) Incredible experience
EV is perfect for the new generation of blood who look for speed. EV not only a powerful medium of transport but driving EVs gives you a completely new experience. Reduce driving fatigue or stress when you find more in your car. All electric vehicles will be a package of entertainment that delivers incredible experiences to the drivers.
Electric vehicles such as Tesla have demonstrated that cars can be more than just a transportation unit. You can have more fun driving the car and enjoy the gateway with your family and friends. Getting EV with you on the long drive will be a mesmerizing experience. Take a halt at the beautiful landscape and enjoy the view.
4) Convenient charging facility
All EV cars have a portable charging cable connected to any charging slot. You can charge the car in the garage or take the car to the nearest fast-charging facility. You need an electric outlet to power your car and are ready to go.
In contrast, fuel-powered vehicles need special infrastructure where fuel is stored, and vehicles must be taken to the fuel station to fill the tank. EV takes away the pain of fueling the car. Charge the car on the go and continue your journey.
5) Safety
EVs are safer than fuel-based cars because the cars do not have the fuel which could explode in the case of an accident. The batteries are safer than the fuel. It is packed in protective layers that prevent the batteries from getting into contact with the environment. In the Safety rating, EV cars easily outrank traditional fuel-based cars.
Conclusion
All of the above factories indicate that electric vehicles will be the future of transportation in 2024. The development, rapid growth in demand and, most importantly, the adaptation of renewable energy is forcing established automobile companies to produce more sustainable EV models for consumers. As technology grows, cars will become cheaper and open the doors to the complete replacement of traditional fuel-powered vehicles.
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