Going All Electric: Into the Electric Vehicle(EV) Future
This week, Singapore launched its first large-scale electric car-sharing program through which the land-scarce country hopes to provide its commuters with more transport options to reduce the number of vehicles on roads. This service will be carried out by BlueSG, a unit of France’s Bollore Group which has operated similar electric car-sharing programs in other cities, including Paris, Bordeaux and Lyon in France, Indianapolis and Los Angeles in the United States and Torino in Italy. While automatic cars have been a heated topic of discussion now, the world is hastened toward electric vehicle tech-based future.
In addition to its increased familiarity and acceptance by the public, rapid declining costs of electric vehicle (EV) along with the growth in charging station access and rising commitment from major automakers have lead EV to play an ever-greater role in world’s transportation sector. According to a UBS global autos survey released last month, by the middle of the next decade, global sales of electric vehicles should hit 16.5 million, making up 16 percent of all car sales.
Established car manufacturers like BMW and Daimler AG are spending billions in R&D to capture market share in the burgeoning electric-car market. When Jaguar Land Rover followed in the tracks of Volvo with its shift to an electric-powered future, the American automotive giant, General Models, also announced that it is working toward an all-electric, zero-emissions future.
Even though the Trump Administration may not be insisting on an electric age efficiency in the U.S., the rest of the world is planning to dominate this next-generation technology at a crossroad in the development of the automobile industry. China, the world’s largest car market, is now accounting for more than 40 percent of electric cars sold in the world and may soon further wind down production and sales of cars using fossil fuel.