finally is happening. For years, engineers have promised that the electric car era will come. Early 20th century (electric cars briefly made up one-third of US cars), 1970s (thanks to the gas crisis), early 2000s (two American engineers founded a company called Tesla Motors). After a failed start in ), electric vehicles are becoming mainstream.
By mid-2022, global annual passenger EV sales will hit a record 7.1 million units, according to data from research firm BloombergNEF. The company forecasts sales of 10.6 million units by the end of the year, despite continued stress on the vehicle supply chain. To get the electricity into the dealer’s lot.
According to Bloomberg NEF data, 13% of global passenger car sales in the first half of 2022 were battery electric, plug-in hybrid or fuel cell vehicles. Still, growth rates are uneven, with Germany (26%), the UK (24%) and China (23%) leading the way. Only 7% of passenger cars sold in the US in the first half of this year were zero-emission vehicles.
what is going on? First, government efforts to combat climate change through progressive transport policies appear to be paying off. Since 2020, Germany has offered incentives of up to €9,000 for car buyers if they choose to go electrified.The scheme has worked very well and the government reduce the dividend China has been actively investing in the domestic electric vehicle industry for nearly a decade. The U.S. government also this year aims not only to expand incentives to buy cars, but also to support a more American electric vehicle supply chain, from car assembly to mining rare minerals used in EVs. and passed a number of new programs. battery.
Automakers are also increasing production of all kinds of electrical products. Over the years electric options have been limited, but now, whether it’s her one gal for a weekend joyride or a busy parent carrying a few kids and accessories, there’s more. Many people can find an EV that meets their needs. In the US, new fully electric SUVs such as the Tesla Model Y and VW ID.4, trucks such as the Ford F-150 Lightning and Rivian R1T, Porsche Taycan and Ford Mustang his Mach E. Europeans want small hatchbacks like the Fiat 500 electric and the Peugeot e-208. courted by a Chinese automaker who have worked to meet the high European safety standards.
There is reason to believe that the EV explosion could continue. By the end of this decade, the world’s top automaker has pledged to spend an astronomical $1.2 trillion to produce his 54 million electric vehicles. Reuters analysisGovernments are pledging billions of dollars on charging infrastructure. Battery makers are pledging billions of dollars in plant start-up costs.
This is all good news for the government, which has set an aggressive target to phase out the sale of petrol cars by 2035. European Union California, New York, and Washington in the United States have all formally announced plans to do so later this year. But while EV sales are currently booming, there are many things that could slow the electric revolution.
For one thing, electric vehicle chargers are not widespread enough. Governments and the private sector need to build a global network of electric vehicle chargers that can serve not just passenger cars, but the ubiquitous vans and trucks that rival gas stations. For another, global supplies of battery minerals such as lithium, nickel, cobalt and even graphite are limited, and getting them out of the ground is a dirty job.Was 2022 the electrical tipping point? A question that can only be answered with hindsight.?