IMAGE: LadyAnn — 123RF

The electric vehicle is the future

Enrique Dans
Enrique Dans

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Some recent announcements allow us to see more clearly the future of the electric vehicle, one that many people have refused to accept, usually based on arguments that no longer stand up.

The two most populous countries in the world, China and India, with a combined population of more than 2.6 billion, have announced the most ambitious moves: India, forced in part by its polluted, chaotic cities and its commitments to international emission reduction agreements, will transform its automobile fleet and become fully electric by 2030. China, the world’s largest automotive market and also concerned about its very high levels of pollution and traffic problems, will ban entirely the sale of vehicles powered by fossil fuels, with dates to be determined, but also targeting 2030. In addition, China plans to build 167,000 electric charging stations throughout its huge territory.

More conservative countries, such as France, are proposing a ban on internal combustion powered cars 2040. Leaving arguments about specific dates aside, we are talking about a clear trend that is not only reflected in government actions. Uber, for example, says its entire fleet of passenger transport vehicles in London will be electric by 2025, meeting the regulatory constraints set by City Hall. Brands such as Jaguar Land Rover, BMW, and Porsche are following Volvo and announcing more electric models, or the total electrification of their product line from between 2020 and 2025, and are overcoming technological challenges and perceptions with models capable of improving performance and the driving experience of their gasoline-powered equivalents. Electric motors are simpler, longer lasting and subject to more economies of scale in their production. Tony Seba’s predictions are being fulfilled step by step.

The average price of electric vehicles rose slightly in 2016, but their efficiency and cost per kilometer fell, making them an increasingly reasonable option, able to respond to the needs of more and more drivers. On the other hand, new studies show that diesel engines are responsible for around five thousand deaths annually in Europe from respiratory disorders, making it clear that the decision to move toward these kinds of engines was wrong and needs to be corrected as soon as possible. More and more cities are introducing measures to restrict circulation as soon as pollution indicators go beyond legally established limits, a problem that is happening more and more frequently due to climate change, making the electric vehicle the perfect transport option. The way we see electric vehicles is also changing: big and noisy is no longer the benchmark, instead, quiet and non-polluting is the new cool.

If you are thinking of buying a car, think about the future, and about making some small changes to your habits, such as renting a vehicle when you want to make a trip, a decision that could not only save money, but mean that you are no loner part of one of the most worrying problems facing humanity, but instead part of the solution.

(En español, aquí)

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Enrique Dans
Enrique Dans

Professor of Innovation at IE Business School and blogger (in English here and in Spanish at enriquedans.com)