The future of the automobile industry is looking electric. After decades of domination by the internal combustion engine (ICE), electric vehicles are poised to become the go-to mode of transportation for the global population. The innovative technology of electric vehicles promises both environmental sustainability, and improved driving experiences. This comprehensive look at electric cars will explore their history, current global landscape, and industry forecasts for the future.
History of Electric Cars
The history of electric cars dates back to the late 19th century, when they were first developed as alternatives to the combustible-powered, steam-driven vehicles of the era. In 1895, Hiram Percy Maxim, inventor of the muffler, developed the first practical electric motor car. This vehicle, powered by a pair of five-horsepower electric motors, was used for a variety of activities—including touring, driving to factory jobs, and even racing.
By the 1920s, electric cars were widely available in the United States and Europe, and were particularly popular among city commuters because of their low-speed, quiet operation. Unfortunately, growing gasoline infrastructure and cheaper Big Three models soon led to the decline of the electric car market.
Despite this, electric cars continued to be developed, and in 1990, the General Motors EV-1 was released—the first modern, mass-market electric car. In the 21st century, electric vehicles have gained more attention due to advancements in battery technology, and a newfound focus on environmental sustainability.
Current Status of Electric Cars
Currently, electric cars are becoming increasingly popular as vehicles for daily commuting and short-range trips. Adoption has been accelerated in countries like Norway, based on government incentives and improved battery technology. According to one analysis, the electrification of car sales in Norway grew from just 8% in 2014, to a staggering 54% in 2018.
In the United States, electric cars are much less popular, but are still seeing an increasing share of the market. In 2018, the Department of Energy reported that electric cars accounted for about 2% of total vehicle sales, a number that experts project could grow to 10% or more by the end of the decade.
Electric vehicles offer plenty of benefits when compared to traditional gasoline-powered cars—most notably, reduced emissions. According to the Environmental Protection Agency, an electric vehicle generates up to 90% lower emissions than a gasoline-powered car. This has been a major selling point for many countries, as they look to cut their emissions levels in accordance with the Paris Agreement.
Industry Forecast
Given that electric vehicles offer a number of advantages over traditional gasoline-powered cars, the future of the automotive industry looks increasingly electric. According to a report from the International Energy Agency, the global electric vehicle fleet is expected to grow to 125 million cars by 2030.
This is a major shift from the status quo, and will require a massive rollout of charging infrastructure and battery production capacity in order to support the increased demand for electric vehicles. This could be achieved through government mandates, or through incentivizing private industry to invest in electric vehicle infrastructure.
Conclusion
Electric cars are the cars of the future. Their innovative technology offers both environmental sustainability, and improved driving experiences. With the right supporting infrastructure and incentives, electric cars could make up a large share of the global vehicle market by the end of the decade. Their rapid adoption is sure to reshape the automotive industry as we know it.