(Photo credit: felixkramer / Flickr)
Electric vehicles are currently just a small percentage of car sales in the U.S. But automotive consultant Ken Stewart says to understand how the industry is evolving, people need to look beyond today’s sales numbers.
“Look at the indications of where things are going,” he says.
He says major car manufacturers are making big investments to develop new EVs.
“This is a significant amount of money that is flowing into this space that really wasn’t there even 10 years ago,” he says.
Carmakers are motivated in part by the growing push for EVs in other countries, such as China.
“Most automakers are global now,” Stewart says. “So if you’re engineering a vehicle for the world, you’re going to pay a lot of attention to what China requires. And China is relentlessly pursuing greater levels of EV technology and adoption in their country.”
As technology improves and people grow more familiar with electric cars, Stewart says the transition away from gas-powered vehicles will happen, but not overnight.
“Nothing is overnight,” he says.
People only buy a new car about once every 10 years. So Stewart says even if they are eyeing an EV for their next purchase, it will likely be decades before EVs outnumber conventional cars on the road.
Reporting credit: Sarah Kennedy/ChavoBart Digital Media.