You might not think you’re interested in an electric vehicle, but in reality, you are. Whether you know it or not, electric vehicles are on the verge of becoming ubiquitous. If you’re not considering them in your future transportation plans, you might find yourself lagging behind.
Data Points to an Electric Future
While opinions about electric vehicles vary, the data speaks volumes. Currently, electric vehicles make up only 1% of the vehicles on the road. However, projections suggest a potential tenfold increase in the next few years. NADA, the National Automotive Dealer Association, has thrown its weight behind electric vehicles. Dealerships are strategically promoting EVs, setting up charging stations, and aligning their marketing efforts toward electric vehicle adoption.
The Battery Revolution: A Game Changer
The bottleneck for large-scale electric vehicle production has been batteries. However, with 13 battery gigafactories slated to open in the US by 2025, this signals a monumental shift in battery production, impacting availability and volume significantly. Major players like Ford, General Motors, and Volkswagen are investing billions in battery production plants, indicating a firm belief in the future dominance of electric vehicles.
Strategy for Consumers: Embracing Change
Even if you’re not currently interested in electric vehicles, preparing for their prevalence in the market is wise. The surge in prices of used hybrids and EVs, coupled with potential tax benefits, suggests now might be the time to consider an EV. If you’re in the market for a new vehicle, opting for an electric one now could potentially secure a better resale value in the future, given the increasing demand for used electric vehicles.
Timing Considerations for Non-Buyers
For those not currently planning a vehicle purchase, delaying might not be the best strategy. Gas vehicles’ current high resale values and existing incentives might diminish as the market shifts towards EVs. For adamant gas vehicle enthusiasts, investing in a gas-powered vehicle that’s built on prevalent, repairable technology might be a prudent choice for the long term.
Infrastructure and lifestyle adjustments
Preparing for the electric vehicle era might involve house modifications, business adaptations, and lifestyle adjustments to accommodate charging needs and changing travel patterns.
Considering practical realities
While electric vehicles are promising, time and security concerns around charging stations remain factors to consider for a seamless transition to an EV-centric lifestyle.
Planning ahead pays dividends.
Planning for an electric vehicle’s future isn’t just about cars; it’s about strategizing for a different business landscape and personal life. Those who plan now will likely find themselves better positioned than those caught off guard by the shift away from gas vehicles.