The overall growth of electric vehicles is fast and rapid at 27 percent CAGR (compounded annualized growth rate). The global market for electric cars is expected to rise from 8.1 million in number to 39.21 million by the year 2030. However, the tremendous growth in the sector is driven by many forces. The government worldwide is already encouraging the purchase of EVs due to the predicted shortage of petrol and diesel-operated cars in the future.
They have introduced subsidies, laid electric cars on sale, formulated simple regulations, and are fulfilling consumers’ demands on bringing out low emission commuting vehicles and replacing fossil-fuel attributed vehicles today. The trend of EVs is irreversible due to various reasons:
Cost-effective and Economical
Maintenance costs are expensive, also the costs incurred by the running of vehicles are unprecedented and constitute the major part of any ownership federation. Electric cars have made it simple for buyers by reducing their maintenance costs and expenditure on fuel. Electric vehicles have fewer movable parts when compared to gasoline engines, making them easier to maintain.
Few parts of the EVs are damageable, and others are not prone to any breakage or repairs, therefore changing the oil in the cars needs to be replaced rarely, reducing your maintenance cost. EVs offer a clean way of transportation for people.
Enhanced Driving Experience
The best part about experiencing reduced fatigue while driving an electric car is it doesn’t have gears, so no complicated controls. All you need to do is accelerate, have held onto the brake, and steer the car well to enjoy a safe, calm, and noise-free driving experience. The reduction in noise is an additional benefit of having an electric car.
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Electric motors do not produce sounds like internal combustion engines. With an enhanced driving experience, EVs also foster reduced noise pollution and prevent the environment from various negative impacts like heart diseases, anxiety, depression, fluctuations in blood pressure, etc.
Changing to electric vehicles as a mode of transportation will serve as a savior to the environment. It is expected to serve around 1 Giga tonne of CO2 emissions by 2030. Electric cars take a positive step towards reducing air pollution, making the environment a better place to live in. While the entire world is facing global warming and depletion in environmental conditions, buying electric cars will be an effective contribution toward the benefit of the environment.
EVs have zero tailpipe emissions that ultimately save our surroundings from negative climate change and ecological damage. The better the environmental conditions with lesser harmful exhaustions, the fewer we witness harmful diseases all over the world.
The initiation of electric vehicles was never a success, they were manufactured with very high costs, offered low speed, low battery range, and even failed to meet environmental conditions. However, the scenario has changed now. The last decade has witnessed universal interest among both manufacturers and customers. Recent times have resulted in huge investments made in electric vehicles, as a result, millions of vehicles are being sold every year.