Why Aren't We Ready for EVs After More than 100 years?

Why aren't we ready for EVs after more than 100 years?
Why aren't we ready for EVs after more than 100 years?

When you bear in mind that early electric vehicles emerged more than 100 years ago there was an interesting article recently asking the question, why are we not prepared? This is most certainly a valid point because you would have thought that problems with the supply of oil, environmental issues, and other factors which have prompted more interest in electric vehicles should have made us more prepared. So, after more than 100 years why are we are not prepared for electric vehicles to move towards the mass market?

Technology

Even though the early day electric vehicles were game changers of their day, highlighting new and innovative technology, they never quite caught on. It is also worth noting that significantly more investment was made into the petrol/diesel market in years gone by, very often to the detriment of new innovative technologies. It is only over the last 10 years or so that we have seen any real movement forward with regards to technology and much of this can be laid at the door of Tesla's chief executive officer Elon Musk.

Tesla has not only been innovative and forward thinking with regards to electric vehicles but the offer to open up the company's extremely expensive patent portfolio to competitors, for the good of the industry was a game changer.

Cost

If we look back over 100 years ago the cost of creating an electric vehicle would have been high in relation to more traditional transport. The situation is only just starting to change today with mass-market appeal now allowing manufacturers to create vehicles in larger numbers. As we touched on above, the diminishing cost of accessing new technology is also allowing others to build and expand their electronic vehicle operations.

The cost at the moment is in many cases relatively high, especially when looking at introductory vehicles, compared to petrol/diesel but this is most certainly changing. The likes of Nissan have attracted major attention with their affordable and innovative vehicles and with Tesla set to launch its own mass-market electric vehicle within two years, we are certainly moving ahead with great strides.

Demand

You can have the best technology in the world and the most affordable products or services, but if there is no demand it will never sell. The ever changing attitude of governments around the world towards electric vehicles has been a game changer as well creating financial incentives to switch to more environmentally friendly transport options. The cost and new technology play a major role in any new market but the fact is that there needs to be demand and thankfully governments around the world are now helping to create this momentum going forward.

Conclusion

Many entrepreneurs of their day tend to be years ahead of the game and this is probably likely so with regards to the electric vehicle industry. It first appeared more than 100 years ago but even today progress has been tough at times trying to convert consumers towards this new, efficient and environmentally friendly mode of transport. In many ways the reduced cost of the technology associated with modern day electric vehicles has played a part but government financial incentives to those looking at electric vehicles has probably tipped the balance in favour of the industry going forward.