The Future of the EV Market

Majority of car sales within the United States are highly dependent on petroleum or other oil based products. As the biggest polluter of greenhouse gases, car companies such as Chevrolet and Toyota are seeking to design more EV friendly cars, as the consumer base has greatly expanded due to environmental factors. Researchers have seen with recent demand that “EVs may constitute almost a third of new-car sales by the end of the next decade.” The demand for EV vehicles will be in 2030, and this will decrease the sales in oil and other petroleum based products. In addition, the options for EV vehicles will be greatly expanded as VW, Fiat, and Honda are soon going be releasing their own version of the EV trend. The expansion of the EV market will greatly expand, as it currently stands as 1% of car sales in the world. With the ever decreasing supply of oil and the grave environmental impacts that oil has had on the environment, consumers seek to choose better for themselves, their budget, and the environment. EV is the future of consumer driving and the market is adapting quickly to this new change. See https://www.bloomberg.com/news/articles/2017-04-25/electric-car-boom-seen-triggering-peak-oil-demand-in-2030s

By: Emily Thomas