for Electric Vehicles
The latest Fact Pack from SAFE highlights developments in the U.S. EV market, which is poised to see significant growth in the coming years as a result of new models, lower battery costs, increased range, and growing consumer awareness.
The latest developments from Uber and GM, and other firms in the self-driving race, indicate autonomous vehicles are helping drive efficiency and accelerating the use of EVs.
Two major forecasters see a sharp penetration of EVs in the next couple of decades. Although the outlook for EVs and the transportation sector is improving quickly, oil demand is likely to continue to grow.
Even with an entirely different landscape due to EVs becoming a greater part of the fleet, there is essentially no way to avoid the fact that ICE vehicles will be around for a very long time.
Given the costs of oil dependence, maintaining and reforming the EV tax credit is of strategic importance to the U.S. The tax credit has been vital in helping EVs gain traction in today’s competitive car market.
As more used electric vehicles become available and the price points remain enticing, consumers will continue to show interest in snapping up used EVs.
Coinciding with NDEW, SAFE’s Electrification Coalition is releasing a case study with the best practice recommendations developed through the Drive Electric Northern Colorado initiative.
This year’s National Drive Electric Week comes as more governments are aiming to move away from conventional vehicles in the next couple of decades, EV sales are seeing enormous growth, and forecasters are bullish on their long-term outlook
The car industry is moving forward with new EV models, governments have set aggressive targets, and consumers are becoming more comfortable with the new technology, bringing about ideal conditions for electric cars to continue to thrive, even with low oil prices.
The growth of EVs and plug-in hybrids, and the expectations for deeper penetration in coming decades, will result in the potential of feeding energy stored in vehicle batteries back to the electrical grid to smooth peaks and valleys in electricity demand.