It looks like electric cars are here to stay. A new report shows the environmentally-conscious vehicles are selling like hotcakes — in fact, global sales have been increasing by 100 percent every year for the past few years. That’s quite an accomplishment for a vehicle that until fairly recently was widely considered the unrealistic fantasy of treehuggers and futurists.
The adoption rates are quite staggering to see. From Treehugger:
“…There were approximately 25,000 battery-electric, plug-in hybrid electric, and extended-range electric vehicles registered globally at the end of 2010, then approximately 80,000 at the end of 2011, then approximately 200,000 at the end of 2012, and then approximately 405,000 at the end of 2013.”
Why the sudden interest in electric vehicles?
As Treehugger points out, the cost of manufacturing the lithium-ion batteries that power the vast majority of electric vehicles on the market today has declined rapidly in the past few years, putting the cost of many of the vehicles themselves on par with gasoline-powered vehicles. In addition to that, many state and national governments have begun offering tax and other incentives to consumers who buy hybrids and electrics.
On a more obvious note, the growing popularity of hybrids and electrics has led automakers to begin adding new models to their offerings, thus giving consumers more options to choose between. Add to that the rising cost of gas and increased public concern about climate change, our dependence on oil, and humanity’s impact on the environment, and it’s easy to see why hybrids and plug-in electrics have seen such widespread adoption.
Our estimate is that as charging infrastructure expands and more electrics hit the market at reasonable prices, this trend will only continue.