We’ve been going through a transition period in the past few years, where the oil industry and the traditional car manufacturers have been campaigning hard against Electric Vehicles (EV).
However we’re starting to see that drop off, now, as big names such as Volkswagen-Audi Group, Jaguar-Land Rover and Renault making serious commitments to EVs.
AS well as oil companies such as Shell and BP making investments in charging networks
Buying a new EV is starting to make more sense than buying a new ICE car.
- The cost to buy has pretty much reached equality with similarly equipped ICE cars
- They are cheaper to own thanks to lower servicing costs and due to lower running costs
- There are more taxes coming to polluting cars in many markets and petrol and diesel prices are climbing in all markets
- They’re more future proof: Who’s going to want to buy a second hand ICE car in five years time? Will you even be able to drive an ICE car in the centre of your closest city by then?
The future innovations will bring prices down further while advancing the technology in these cars.
Reference- Futurism, Quora, Mercom India, Bloomberg