We all grew up in a world that has harnessed the power of petrol and diesel to propel our vehicles. We also tend to take this seemingly obvious fact about our world without critically thinking about the consequences of its incessant use, that is they are exhaustible and contribute immensely to air pollution. Then, one may wonder how we can sustain the health of our planet without having to compromise on our convenience. The category of Electric Vehicles has emerged to be an alternative since they run on batteries which in turn don’t emanate smoke and are hence mostly eco-friendly.
The majority of Norway’s population (74.7% in 2020) has switched to E vehicles which by the way is the epitome of a developed and prosperous nation. All of this leads us to ascribe E- Vehicles as the ‘future’ and also spearhead the go-green initiative.
Now, let’s take a look at what warrants the overall positive attitude towards EVs.
- The Environmental Aspect
The only way to ascertain the environmental consequences of EVs is to look at certain statistics. Firstly, EVs account for approximately 1% of the total global consumption of electricity in 2020. It can be further deduced from this that about 80 terawatts/hours of electricity was consumed.
Moreover, in the same year, more than 50 million tons of carbon dioxide emissions were prevented by EVs on a global scale. However, it may be argued that the manufacturing process of these vehicles emits pollution, but if given a little thought this argument would seem fallacious as every car, whether it being ICE( Internal Combustion Engine) or EV in its production is deemed to leave carbon footprints.
- The way private sector reacted
Since the inception of the EV revolution, private players have mostly responded with a positive attitude. The reason for this can be served by the fact that they are aware of the opportunities that are waiting to be tapped on. This would also be an opportunity to spread the message of how concerned they are over environmental issues.
Recently, Volkswagen has begun to spearhead the process followed by many transnational manufacturers.
On the other side, companies specializing in utilities and power are constantly seeking ways to increase their overall investments in EV charging infrastructure.
The germany-based company, DHL by 2025 has made it mandatory for its last-minute pick-up and delivery services to operate within the realm of 70 percent cleaner fuels.
- Relatively affordable
This aspect of electric vehicles is grossly oriented towards the working class, as it affects their pockets. A technology that promises of a healthier future has to offer more than its environmental-friendly side in order to appeal to larger strata of society. The nuclei of this other side consist in the affordability of the EV.
To begin with, the cost of running an electric vehicle is 40 percent less than running a petroleum-based vehicle. How? Well, the electricity required to charge an EV costs much less as compared to a car running on petrol in and around the same distance. This cost can further be mitigated if you use Solar PV systems or free charging stations.
Furthermore, their maintenance won’t affect your pocket as such. For, a Battery Electric Vehicle or BEV has fewer parts in contrast to its nemesis. Most companies provide a warranty of around 8 years to the batteries of EVs, implying its longevity.
- Bolstered state in Geo-politics
The tussle over acquiring natural resources such as crude oil has shaped or in fact, initiated various battles and invasions across the world. This is perhaps, why the term ‘black gold’ was coined to imply its increasing significance and the economic interests that it could satisfy. However, with the coming of the EVs, there can be seen a shift in geopolitics, in terms of new players trying to influence the whole demand and supply chain in their favor. Countries such as China, are the largest market of electric cars. Around 56 percent of total electric cars manufactured were sold in China. They are also in possession of the key components of producing electric batteries, i.e. Lithium and Cobalt. The other country which could witness a boom as a result of harboring this technology related to EVs is the USA, which accounts almost 17% production of the global electronic vehicles production.
Conclusion
All of the aforementioned points may incline you to book an EV right away. But hold your horses, as nothing in this world comes for free without incurring any restitution of the one sort or the other. In the case of EVs too certain issue has become a matter of concern over the years. For example, the lack of charging infrastructure in various developing countries, the issue of who is going to pay for these installments, government, people, or private institutions. Moreover, it has been argued by various experts that 100 percent of electric vehicles wouldn’t automatically imply zero carbon footprints. The rationale behind is this is that batteries would require minerals sourcing, disposing of batteries that have atrophied. All of this comes at an environmental cost. The only way out of this seems to be, doing a cost-benefit analysis.
