What’s the future of the Auto Industry?
The Automotive Industry has come a long way in the past few decades. Vehicles are becoming a lot more budget-friendly while also having the latest technological advancements in them. In case you’re a car aficionado, you must have already seen the enormous changes that are bound to take place within the next few years. In fact, almost every brand has something new to offer when it comes to changes. By 2030, it is said that electric cars would be a common occurrence and they are bound to replace the traditional cars. What’s more is that only a few years from now, we’ll be greeted by self-driving cars.
There is a lot riding on the electric car industry as well and nearly every brand has vowed to introduce a new model in the market in order to compete with the prominent brands. In fact, with the low pricing, the electric cars can compete with traditional fuel vehicles vis-a-vis. There will come a time in the future when these cars would be significantly cheaper than the fuel-run vehicles. Possessing these vehicles would be much cheaper in terms of upkeep and other expenses. In fact, some of these vehicles which are already launched are way ahead in terms of speed, design, and comfort than fuel-based vehicles. Electric cars are definitely giving them a tough competition.
While the idea of electric cars has been around for over three decades, it has been brought into reality quite recently by Tesla. The overall look of these vehicles is also stunning and can make any car lover fall in love. The batteries, as well, are on the cheaper side in comparison to other cars. They can be driven for over 300 miles without being charged more than once. This truly reduces the costs of these vehicles. Since their entrance into the market, electric cars have had quite a lot of advancements which adds to their appeal. The increasing demand for these cars followed by the demand for charging stations will cause acceleration in the growth of this industry.
The companies, as well as the authorities of a country, are extremely mindful of the depleting sources of fuel, knowing that it is not just a political issue but a social one as well. The Electric car industry offers the perfect solution by providing a nature-friendly alternative to smoke emitting cars. However, such as any other industry, this must have some hidden dirty secrets involved. One of them is that the majority of electricity needed to drive these vehicles is derived from coal and other alternatives. In order to ensure that the network remains spotless and actually beneficial for the environment, there is a need for a much better source which also happens to be sustainable, such as sunlight. Overall, the automotive industry is definitely showing signs of improvement, but there is a lot to achieve and it is a long journey ahead, quite literally. With the quickly evolving innovation, a lot can be expected from this industry in the near future.