2021 Expected to Be Pivotal Year for Commercialization of Electric Vehicles
Will 2021 finally be the year where electric vehicles gain much more popularity and become widespread? Come take a look at our article and find out.
In recent years, there has been a greater awareness regarding the importance of preserving the environment. Environmental issues have risen in all areas, including in politics, agriculture, and household consumption. This has thus led to the rise of ecologists in the political debate or even a notable change in the consumption habits of households who now devote a greater part of their spending to eco-friendly products.
The automotive sector has also been impacted by this growing global interest in environmental issues. According to Avere-France, the national association for electric mobility, the number of registrations of electric vehicles in France was 42,763 by the end of 2019, in comparison to just 100 ten years ago. In the US, according to Edmunds analysts, 30 EVs from 21 brands will become available for sale in 2021, compared to 17 vehicles from 12 brands in 2020. Given these statistics, electric vehicles seem to be attracting more and more consumers in France and the rest of the world, aided by the incentive measures put in place at the European level to reduce the carbon footprint of vehicles in circulation.
Despite the crisis that the global automotive sector has been going through since the start of the COVID-19 pandemic, 2021 offers bright prospects for a revival. And automakers know it. For example, in its strategic plan presented on February 15, 2021, the Jaguar brand pledged to become an all-electric brand by 2025 and a zero-carbon company by 2039.
However, the electric vehicle still remains a niche market (less than 2.5% market share in the US and less than 6% in France) mainly because of internal combustion engine vehicles. For example, an electric vehicle costs 1.5 times more than a classic vehicle, not to mention issues with autonomy and maintenance.
While there are still other brakes in the minds of consumers that could limit the penetration of this type of vehicle around the world, the current global trend is more than favorable.
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