In recent years, the popularity of electric vehicles has risen sharply. More electric cars were sold in each week of 2021 than in all of 2012. There are now 10 million electric cars on the roads around the world—and that number is projected to continue rising at an exponential rate. But what’s causing this sudden and significant increase in the prevalence of electric vehicles? There are a few different factors.
Improved EV Quality
Electric vehicle technology has advanced in enormous strides over the past decade. When electric vehicles first came to market, they couldn’t drive very far without needing to be recharged yet the available charging stations were few and far between. Drivers couldn’t get the same performance out of early electric vehicles that they could get from the standard gasoline-powered cars that were being produced at that same time; electric vehicle technology simply wasn’t very advanced. Now, however, electric vehicles are among the nicest, highest-performing cars on the road, so quality no longer plays a factor when drivers are deciding whether to buy a standard or electric vehicle.
Lower EV Costs
Early electric vehicles were impractical for more reasons than just performance. Their hefty price tag meant that most drivers, even those shopping for a brand new vehicle, could not afford to purchase an electric vehicle. EVs were a luxury item that only the very rich could afford to indulge in. Over the years, the cost to purchase an electric vehicle has steadily dropped thanks to a combination of government subsidies and falling battery prices. While EVs are rarely the cheapest option, they’ve become much more financially viable than early electric vehicles were, especially considering how gas prices have increased.
Increased Governmental Support
While early electric vehicles had to stand on their own four wheels, so to speak, that’s no longer the case. As governments around the world have been compelled to take action against the climate crisis, lowering carbon emissions has been an obvious step toward protecting the environment. Countries across the globe have passed legislation that subsidizes the production and distribution of electric vehicles as well as legislation that requires automakers to produce a certain number of EVs every year. This support from governments has enabled the EV sector of the automotive industry to flourish.
Shifting Consumer Sentiments
One major reason that there are more electric vehicles on the roads today than ever before is that an increasing number of consumers have the desire to purchase the most eco-friendly vehicle that they’re able to. The average person cares about climate change and is committed to taking steps to lessen their carbon footprint. This demand from consumers has further incentivized automakers to prioritize advancing electric vehicle technology and producing electric vehicles, per the principles of supply and demand.
Electric vehicles aren’t the only advancement in the automotive industry. As electric vehicle technology has developed, so have many other sectors of the auto industry. Lintec Auto is constantly innovating better, more durable, and more efficient automotive films, tapes, and adhesives. Our products are used for everything from applying stickers in the engine bay to protecting vehicles from erosion during transit to replacing metal fasteners in vehicle assembly. If you’re interested in exploring our products and their applications, you can get in touch with us today.