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The Rise of Electric Cars

The rise of electric cars

WHY ELECTRIC CARS ARE THE FUTURE?

Electrification appears to be the latest fashion in the modern era. The global adoption of electric vehicles (EVs) is accelerating, but the Chinese sector has grown at the fastest rate. For the first time in history, established Western brands are facing significant competition from Chinese automakers.

Where EV Sales Strongest?

Global EV sales increased by 108% from the previous year to 6.75 million units in 2021. Even if the figures are overstated due to the pandemic creating a low sales baseline in 2020, it still signifies a return to the profitable trend that electric vehicles had previously experienced. The worldwide market share of electric vehicles (EVs) nearly quadrupled from 4.2% to 8.3% in 2021, with total light vehicle sales only recovering by 4.6%. The largest rise was seen in China, as EV sales rose to 25%.

What is BEVs & PHEVs?

So now one can wonder what is the terms BEVs and PHEVs? In the Electric car terms the BEVs only use electric motors for propulsion. PHEVs have an internal combustion engine (ICE) and at the same time has an electric motor, and most of electric cars has an external plug is used to charge the battery. Hybrid electric cars are not classified as EVs (HEVs).

Although HEVs lack an external outlet for battery charging, they do have an electric motor in addition to an ICE. However because the engineering of the structure design they thus rely more heavily on the ICE and have lower electric power ranges.

China is leading the way for EV car inventions and making rapid pace in the creation and maintenance of EV infrastructure at a very rapid pace, leaving behind the USA and Europe and than the rest of the world combined.

This figure is expected to rise as infrastructure, performance, and financial incentives encourage more Chinese people to switch to electric vehicles.

According to World Economic Forum “EV Volumes sales database data shows that global sales of electric cars (EVs) rose by 55% in 2022 compared to the previous year”.

  • With 59% of worldwide EV sales, China continues to be the largest EV market in the world.
  • According to the World Economic Forum, in order to fulfill global emissions targets by 2030, yearly EV sales must climb eighteen times.

It’s likely that a growing number of individuals worldwide have observed an increase in the quantity of electric cars (EVs) on local roads in their towns and cities. The most recent statistics on EV sales worldwide demonstrates that demand for green vehicles is rising.

The rise and the number of EV producers in China will only rise as they expand and grow. By 2030, the Chinese government plans to sell 40% of new cars as electric vehicles (EVs), and it is actively working toward this objective.

Net Zero Emission Target

The World Economic Forum’s Fostering Effective Energy Transition 2022 study estimates that in order to mitigate the worst effects of the climate catastrophe, annual sales of EVs will need to climb eighteen times by 2030. In order to decarbonize the road transportation sector, which accounts for 15% of global greenhouse gas emissions, the usage of EVs must continue to rise globally.

Due to its significant clean energy usage and environmental benefits, vehicle electrification is revolutionizing the transportation industry just like the internet revolutionized the Computer industry back in 1990’s. These benefits include saving money due to reduced petroleum dependence, zero net emissions, high vehicle economy and the most importantly EVs are around 10-20 times more suitable and efficient than equivalent ICEVs, and due to rise in electric battery technology has a wide range of fuel options for electricity productions. As the world is moving from the combustion engine to electric engines, we have more options to save the planet from harmful pollution and fresh air for generation to come.


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