EV’s or electric vehicles are taking over the automobile market
According to Consumer Reports, almost 100 full electric vehicles will debut by the end of 2024. In that same article, I learned that Honda plans to be fully Electric by 2040. Almost every other automaker has made similar promises. Whether such a ramp in production of electronic vehicles is feasible remains to be seen. One thing is clear though. Automakers are aggressively pursuing the battery electric vehicle, prioritizing it over the Plug-In Hybrid. So, realistically when will all vehicles be battery electric driven?
Is it unrealistic to think all vehicles will be electric by 2040?
Although every manufacturer is promising it, going 100% electric will pose many challenges. Some of those challenges likely haven’t even surfaced yet, despite extensive research on EV’s. Despite the challenge, automakers are committed to selling only electric vehicles in the near future.
One of the main challenges of vehicles going all-electric is a lack of charging station infrastructure, especially in urban areas. In order to combat this problem with electric vehicles, many companies are coming out with better portable charging stations and easier to install EV home chargers. Whether the ability to make charging the batteries in an electric vehicle faster and easier will make a difference remains to be seen. One thing is clear though, auto makers are promising big innovations in the battery electric vehicle over the next decade.
These automakers are making big promises when it comes to fully electric vehicles.
- General Motors plan to only sell electric vehicles by 2035. Also GM plans to spend $35 billion dollars plans to spend $35 billion dollars developing 30 new electric vehicles by 2025.
- Ford plans to only sell EV’s in Europe by 2030.
- Even VW plans for battery electric vehicles to account for 70% of sales by 2030.
Those are just a few of the top car makers producing electric vehicle. The amount of new players in the electric car market is only going to multiply going forward. Tesla is no longer the only manufacturer to only build battery electric vehicles.
Companies like Rivian, Byton, Fiskar and XPeng Motors are all strictly manufacturing fully electric vehicles for mass production.
High End vehicle engineers have been aggressive in developing fully electric vehicles also.
Jaguar, Lotus, Rolls Royce and even Bentley Motors are all committed to going all-electric by 2035-2040. Internal combustion engines aren’t going to disappear entirely for many years. Sadly though, in 20 years the ICE will be much less common. Even in high end cars once known for their stunning horsepower and under hood technology.
What kind of electric vehicles can I buy in 2022?
Now that we know all major automakers are going all-in on electricity, we can explore the types of electric vehicles already on the market. This should give us an idea of how long until all new vehicles are fully electric.
One of the most recent major developments in fuel economy and emissions was the GDI engine. The direct injected engine was fuel efficient and reduced CO2 emissions. The problem with the GDI engine was it produced black carbon particulates. These harmful particles in the air cause health problems in urban areas. The carbon released also heats up the atmosphere by absorbing heat from the sun.
With the ever changing emission standards and climate change, automakers have made huge strides in producing electric vehicles leading up to the fully electric vehicle. Here are the three options on the market now for electric vehicles.
- Hybrid Electric Vehicle
The first hybrid electric vehicle was produced by Lohner-Porsche in 1900. Since then, automakers including GM, Audi, Honda, Toyota and others have experimented with the hybrid vehicle.
Although Honda introduced the Insight in 1999, it was in 2000 that the Toyota Prius hit the market and became the best selling hybrid vehicle in production.
Hybrid vehicles combine the power of the internal combustion engine with a high voltage battery and charging system. Hybrid vehicles use regenerative braking to transfer energy to the high voltage battery. It’s an innovative way to capture energy normally lost when braking. In a hybrid vehicle, the battery pack and the combustion energy work together to produce energy to rotate the wheels.
- Plug in Hybrid Vehicles
Considered a bridge to fully electric vehicles, the plug in hybrid vehicle or PHEV has become popular in late model vehicles. There are similarities between the hybrid vehicle and the plug in hybrid vehicle.
A major difference between plug in and standard hybrid vehicles is the ability to charge the battery using an external energy source. Traditional hybrid vehicles use the internal combustion engine to replenish the battery. They have no option to charge the battery using a wall outlet or other setup.
PHEV’s use the energy from the battery before the ICE is activated.
By using energy from the battery pack first, PHEV’s allow drivers to add 50-100 miles of range on a tank of gasoline.
- Fully Electric Vehicles
As we covered, fully electric vehicles are already starting to become popular in 2022. A fully electric vehicle is just as the name suggests. There is no internal combustion engine. The only thing powering this car is electricity.
Tesla turned this vehicle into a reality with the Tesla Roadster and since then scores of companies have developed fully electric vehicles of all kinds.
Federal tax credit for EV’s is an added bonus
If buying an electric vehicle is something you’re considering, there is an added bonus in the Federal Tax Credit for Electric Cars.
Since 2010, the government has offered a federal tax credit for the purchase of electric vehicles. There are some criteria and not every vehicle will be eligible for the federal tax credit, but it’s worth seeing if you qualify for this federal tax credit for EV’s.