The number of electric-powered vehicles (EVs) may be growing rapidly worldwide, but it could be years before EVs go mainstream, Kallanish Energy reports.
Of the more than 5.1 million electric cars on roads globally, nearly two million electric cars were sold in China, Europe and the U.S. in 2018, CNBC reported.
The International Energy Agency is aiming to increase the share of EVs globally to 30% by 2030.
Chinese automakers Beijing Electric Vehicle and BYD, U.S. electric carmaker Tesla and Japan’s Nissan were the top producers. Together, they manufactured roughly 560,000 of the world’s fully electric cars.
This number accounts for less than 1% of the one billion vehicles on the road today, according to statistics by BloombergNEF for the 2019 Electric Vehicle Outlook.
As greater importance is placed on reducing carbon emissions, more countries are providing incentives to build integrated infrastructure, and to encourage drivers to switch to EVs.
The U.S. and India have set targets to aid their countries to stay on track toward a carbon emission-free vehicle industry.
“In countries around the world, where there is an over-arching commitment towards the environment, the city has been more than willing to provide the charging infrastructure,” Subodh Mhaisalkar, executive director for the Energy Research Institute at the Nanyang Technological University in Singapore, told CNBC.
It’s not just cars and buses becoming electric vehicles. Other modes of electric transportation, such as motorcycles and ships, are also being introduced.
However, we might still be a long way from reducing our carbon footprint, especially since 38% of the world’s electricity still comes from burning coal.
With more electric vehicles and charging stations being built, demand for electricity will also increase. According to projections by BloombergNEF, electric vehicles will cause global electricity consumption to rise 6.8% by 2040.
That’s not the only dilemma in the industry. British appliance maker Dyson, known for household products like vacuum cleaners, canceled its electric car program in October.
Days later, motorcycle giant Harley-Davidson halted production of its fully electric motorcycle, known as the LiveWire. The decision came after a problem with its charging mechanism was discovered, barely a year after the motorcycle’s debut.