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Factors aiding the adoption of Electric Vehicles

Adoption of Electric Vehicles
Adoption of Electric Vehicles

Everyone is aware of the rising pollution levels across the world. A major contributor to air pollution is our usage of petrol/ diesel vehicles. To counter this concern, Electric Vehicles adoption seems to be the answer and a lot is being said and done in the EV space. In this article, we will discuss the factors that are aiding the adoption of electric vehicles.

Prices of EVs will continue to come down

Today, the cost of EVs is quite high compared to their Petrol/ Diesel counterparts. However, a lot of things are being done to bring these costs down. Some of them are:

  • Improvements in battery technology
  • Government policies supporting battery and other EV components development
  • Increase in production capacity of battery manufacturers

These factors will help bring down the cost of EVs in the near future.

Also read: Will electric vehicles be cheaper in future?

Electric Vehicle adoption in heavier vehicles

The heavy vehicles industry is also working towards electrification. Volvo is working on developing a range of fully electric trucks. We have already started seeing the adoption of Electric buses in several cities. Advancements in this field will continue.

Zero Emission Policies

As discussed about the environmental concerns, quite a few cities will come up with policies like allowing only Zero-Emission Vehicles in the city limits. The possibility of this happening is far-sighted but such restrictions will encourage people to transition to Electric Vehicles.

Increase in Public Charging stations

Today, the number of public charging stations is inadequate and inhibiting the widespread adoption of EVs. However, we are seeing a number of policies being introduced to develop the charging station infrastructure.

Also Read: How to set up Electric Charging Station in India (Step-by-Step guide)

We are seeing innovations like Ultra-fast chargers, battery swapping stations and developments in wireless charging. These innovations and the increase in the number of public charging stations will definitely encourage EV adoption.

Adoption of Electric Vehicles - Bloomberg report

Adoption of Electric Vehicles – Bloomberg report source

Higher adoption of electric vehicles in shared mobility services

In one of our previous articles, we discussed how the day to day cost of running an EV is lower than a petrol/ diesel vehicle. Once we have better-charging infrastructure in cities, we will see shared mobility services like Uber and Ola move towards Electric vehicles.

Also read: Cost of running Electric Vehicle VS Fuel Vehicle in India

To conclude, there are a lot of factors that are aiding the adoption of EVs. Here’s hoping for a better and greener future!

Let us know your thoughts in the comments section. Source

Subodh Yeole
Subodh is an electronics engineer & a system oriented person having 8+ years of corporate experience in foreign client handling & business analysis. He loves writing on various topics related to automobile & sports.

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