The Electric Specialty Vehicle Update is personal electric vehicle news that highlights the trends and market in a handy round-up. You can read the last post here.
The Future is Electric
More and more nations are pledging to go entirely electric between 2030 and 2040. Nigeria is the latest country to join the pledge alongside the UK, Germany, France, and India. India’s Minister of State for Power and Renewable Energy Piyush Goyal has said of the pledge, “the air will be cleaner and will be an end-to-end solution to address the issues of climate change.” Read the full story here and here.
Electric as Company Policy
There is a rise in companies switching to all electric vehicles. In fact, in the UK, 100+ companies have joined a Go Ultra Low campaign, “a joint government and car industry campaign to encourage even more drivers to switch to electric.” Companies pledge to agree to make at least 5% of their fleet electric by 2020 (and some even pledge to take it to 10%). Read the full story here.
The Rise of Steel
The growth of the electric vehicle industry also boosts the growth of another industry: Steel. To keep vehicle prices down, more and more vehicles might turn to steel for manufacturing. “Tata’s research indicates that electric vehicles will drive an increase of 4.2m tons a year in demand for steel in Europe between 2015 and 2050 to almost 22.5m tons a year.” Read the full story here.
Prices Going Down
One of the biggest concerns consumers have when it comes to electric vehicles is the cost. With a brand like Tesla dominating the marketplace (and a hefty price to go with it), more affordable options are coming out, like GM’s new $5,000 vehicle. This little car, the Baojun E100, “can travel around 100 miles on a single charge and can store extra energy from the regenerative braking system.” Read the full story here.