Have Electric Vehicles Just Become Popular Overnight?

Have electric vehicles just become popular overnight?
Have electric vehicles just become popular overnight?

If you look back 12 months there was nowhere near the kind of interest we see today in electric vehicles. Critics certainly had the upper hand, many of the best-known car manufacturers were not interested in EVs and while governments were looking to increase finance for EV enthusiasts and EV manufacturers, again, there was nowhere near the kind of support we see today. To the naked eye it may well look as though electric vehicles have become popular overnight but this has been a long drawnout process and a number of factors have come together to create what many believe is the perfect storm.

Price competition

While the ongoing price competition between EV manufacturers is in many ways "false", simply because volumes are not there at the moment, this move is certainly catching headlines around the world. It is actually turning out to be one of the better ways in which EV manufacturers are able to advertise their wares across the globe and capture the attention of EV enthusiasts.

One factor which is becoming more and more evident as EVs grow in popularity is the option to lease many of these vehicles. This not only reduces the initial cost of acquiring an electric car but will also allows customers to upgrade their vehicles in the future as this fast developing technology continues to roll forward.

Quote from ElectricForum.com : "Hello everyone. I am new to this forum, but find all the posts extremely interesting. I will admit that the most interesting is the one discussing the removal of the governor/speed limiter for my Ford Think."

Greater numbers of electric car charging points

Despite the fact that we saw UK electric charging network operator Chargemaster pullback from a proposed £32 million stock market flotation due to insufficient demand from institutions, the number of electric car charging points around the world continues to grow rapidly. If we take the UK as an example, the government is currently funding the installation of electric vehicle charging points to the tune of 75% of the overall cost. While this will not continue forever and a day, it is something that many individuals, companies, and electric car charging networks are making full use of.

The number of charging points around the world is actually growing at a greater rate than that in the UK with millions of new charging points expected over the next decade or so.

Improved technology

In many ways electric vehicle enthusiasts of today are banking on significant technology improvements in the short, medium and longer term. We have seen great strides in battery technology, the weight and design of the modern-day electric car is more focused than ever and the industry is for the first time effectively fully funded by a mixture of private and commercial investors together with government capital.

Those inside the industry believe that the rate of development of electric vehicle technology, and the various connected components, will increase dramatically in the short to medium term. Many believe we are on the verge of electric vehicles finally making it into the mass market although at best this is probably three or four years away – it could possibly coincide with Tesla's introduction of an affordable EV in 2017.

It will be interesting to see how the industry progresses over the next decade or so!