The electrical vehicle industry is emerging as a major transportation disruptor. We are finding cleaner, more energy efficient, eco-friendly ways to travel. This demand brings business opportunities for EVs.
California alone saw a 2.7 increase in 2017 EV sales, which equals about 14,000 new registrations. See (www.electrek.co) Other States are in hot (EV cool?) pursuit – Oregon, Hawaii and, yes, Maryland. The Chevy Bolt is one reason why EV sales have spiked due to extended range (238 miles per charge) for a more affordable price ($35,000 MSRP) . Other manufacturers such as Nissan, which is the current lead in electric vehicle sales and distribution, Ford, Toyota, BMW, VW and Kia are in the EV race to market, releasing their own vehicles: the Ford CMax, Toyota Versa and Yaris, BMW i3 and i8, the VW e-golf and the Kia Soul. See (https://electrek.co/2017/05/18/electric-vehicles-sales-california/)
EV sales in Europe have increased 38 percent in the first quarter of 2017, according to Bloomberg News. In total, electrical vehicles increased from 23,703 to 32, 627 in the opening quarter of the year in the European Union. The Middle East and Asia also are investing in EVs – Israel, Abu Dhabi, China and India, for example. See (https://www.bloomberg.com/news/articles/2017-05-04/electric-car-sales-are-suddenly-taking-off-in-europe)
So what is the potential economic growth for electrical vehicles? Ever since the Hybrid first hit markets and public consciousness, we have witness a glimpse to a possible eco-friendly transportation system in the US and the world. In all, the potential economic growth of electrical vehicles is high (refer to chart below courtesy of Bloomberg New Energy Finance) and we can see continued growth in 2017 and in years to come.
by Darius McDaniels