The rise of the electric car

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Over the years the rise of electric cars has been innovating to advance technology and new production that we see today allowing the vision of scientists to evolve for years now. As the automobile industry continues to make its shift toward fully electric cars, it is important to understand the compound effect of the EV industry. Electric cars have been in the works for over 100 years, but it is only recently that they've been able to make significant progress. One of the earliest attempts to create electric vehicles was made by Ferdinand Porsche in 1898 when he created the "Egger-Lohner C.2 Phaeton", also known as the "Porsche P1". This car was the result of a collaboration between an electrical firm "Bela Egger & Co", where Mr.Porsche worked, and "Jacob Lohner & Co" as stated by Arstechnica.com Around this time, however, Gasoline cars also started to make advancements and due to them being widely available as well as a fraction of the cost, the electric car started to fade away. Additionally, with oil being discovered frequently and more roads being built allowing for longer travel distances, gasoline-powered cars became the main choice as EVs faced efficiency issues in addition to the already high cost.

As we look into modern society, electric cars have been seen more and more throughout the streets. Companies such as Tesla, Chevrolet, Nissan, and more all implement electric cars into the market. This is becoming more and more common as the incentive to buy electric cars increases. One of the biggest motivations for customers to purchase electric vehicles cars is for environmental reasons. Pure electric cars produce no carbon dioxide emissions while driving, by doing so it reduces air pollution and improves the air quality that we breathe. As stated by EDF, in over a year, just one electric car on the roads can save an average of 1.5 million grams of CO2. which is equivalent to four return flights from London to Barcelona. This alone from one car would be life-changing and reduce the amount of pollution we put out in the atmosphere. 

An additional motive as seen in the case is how it would lessen the congestion in cities. According to the Case Study, GM's latest electric car the E100 is designed to be easily maneuvered in heavily populated areas and a fully charged battery can last for around 96 miles. Living in major cities such as Miami, It can be seen that the streets in addition to traffic can be crowded and dangerous. With the range that this car has and the ability to simply put it to charge whenever the owner is home, it seems like an extra seatbelt to have as this car would be easier to drive around these streets. Customers would never have to rely on going to a gas station, and with the announcement of this vehicle in China, more than 5,000 people have already registered to buy the first 200 models showing the demand for this new electric car. 

The future of electric cars is an evolving future of environmental changes. We see now how all car manufacturing companies are starting to make electric cars and they are starting to come in style.  By 2040, roughly half of the vehicles on the road will still be powered by fossil fuels, but all new vehicles sold will be EVs. The laws and standards for the future of vehicles and burning carbon are changing and to keep the world healthy, we must regulate cars on the road. "Today, Americans still buy roughly 17 million gasoline-burning vehicles each year. Each of those cars and light trucks can be expected to stick around for 10 or 20 years as they are sold and resold in used car markets". All these years that cars are burning fuels is not sustainable for the world's health. Scientists around the world have started to see it and its effects. Change must happen and a good step is to lower fossil field emissions. According to the New York article by 2035, 100% of cars on the road are going to be electric. This is a change we might not see now but the switch to electric is coming sooner than we think. "For instance, policymakers could focus on electrifying ride-sharing programs like Uber and Lyft first, since those vehicles tend to drive more miles on average and get retired sooner".  This is another good idea for the future of electric cars and toward the idea of reducing carbon fuel emotions.

The electric car market has been growing massively in the last 5-6 years. The market in the United States and China have their similarities and differences. A study about those markets in 2015-2017 shows that both China and the United States together were about 70% of the whole electric car market in the world while having around 40% of sales linked to passenger vehicles. The study also shows that different car companies do better than others in the market when they have a headquarter, facility, or manufacturer while in the United States it's all mostly the same through it. In the Chinese market, there hasn't been any correlation when it comes to the electric market and those models that are accessible while on the other hand in the US, the market does show a correlation with those zones that do have models accessible do have more electric cars, which means more sales of electric vehicles versus those zones that do not have any models accessible. 

A study by ICCT (International Council on Clean Transportation) shows that the US electric vehicle market will fall while Europe and China markets will rise. The study showed that we made around 10 million electric cars from 2010 to 2020. In 2017, the United States had 20% of the world's stock but by 2020 it had dropped to 18%. China was the biggest electric car maker with 44% of those cars in the world being made by them while Europe is far behind but in front of the US with 25% of electric cars made. These two studies show how our world is moving toward electric vehicles and how these studies show different countries are having an impact. 

There is much uncertainty around what's to come for electric cars however, it is evident that its potential for a more sustainable future is unquestionable. Environmental concerns will continue to drive the development and progress of EVs. Large metropolitan cities such as Miami, New York, LA, Tokyo, Seoul, and Mexico DF will benefit from the movement of all-electric by 2035. Examples of vehicles like the Chevy E100 will not only contribute to through reduction of carbon emissions but also the ease of maneuvering through heavily populated areas. Locally, initiatives have been set in place to reduce the dependency on foreign oil through initiatives such as the (EV Everywhere Grand Challenge) which focuses on the development of cost-efficient EV vehicles that are more affordable than those gasoline-powered vehicles. As the Electric Vehicle industry continues to evolve through technological breakthroughs the permanent growth and continuous development within the industry are undoubtedly part of the future. 

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Review and comment on the above case analysis. What do you think of the writing? what do you understand from the analysis? any comments to add?

Reference no: EM133259127

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