This appears to be the year major manufacturers embark on an all-electric path.
Expand your business,
Not your inbox
Stay informed and subscribe to our daily newsletter now!
Read for 4 minutes
The opinions of entrepreneurs' contributors are their own.
It cannot be overlooked how we, humanity, are harming the planet. Much of this damage has been caused by pollution. Fossil fuels that produce harmful greenhouse gases have caused irreparable damage. Gasoline and diesel have been used in all types of vehicles for a century and more – along with coal and oil – responsible for this rampant devastation of our environment.
In recent years, however, there has been a concerted effort to move away from fossil fuels and towards alternative energy sources. Wind and solar energy are used to generate electricity in many countries. In vehicles, however, the need to rely on battery power has been a limiting factor since the early days of the automobile.
Electric cars and electric motorcycles are not new. In fact, in the early days of motorized road transport, the electric motor was considered a more practical option than the internal combustion engine. Lack of battery development and cheap oil quickly overcame this, and we have stood still in many ways for 100 years. However, this can only be the year that the electric vehicle establishes its authority on the roads. Let's see why.
Similarly, Ford is making strides in electric vehicles, but will it be successful?
The world is going electric
The electric car has been a feature on the streets for many years. Most major manufacturers have hybrid or fully electric models in their range. Toyota pioneered hybrid vehicles and got the ball rolling so that others can follow. In the luxury market, Tesla has been instrumental in inspiring other manufacturers to incorporate electric motors into their cars, with supercar makers like McLaren and even Ferrari now offering spectacularly powerful hybrid models.
However, for the mainstream everyday driver who wants a family car or one for the daily commute, the electric option has remained expensive. In addition, the infrastructure problem persists in most countries. The limited range also keeps people away from the full-fledged EV, and while gas stations are everywhere, charging stations are sometimes hard to find.
All of this could change right now, and 2021 seems to be the year the big manufacturers opt for an all-electric future. Jaguar-Land Rover – based in Great Britain and owned by the Indian giant Tata – already has the popular I-PACE in its range of luxury vehicles and has announced that it will only produce fully electric vehicles from 2025. This is a bold move by the iconic brand, but it's hardly a high-volume maker.
Such a statement is sure to speed up the move from ICE to Elektro among other big brands, and some are already driving things forward.
The future of electric vehicles
The backlash against electric vehicles has largely come from traditionalists, who are often reluctant to change. The fact is, we value our planet more now than we used to, thanks in no small part to science that teaches us where we made mistakes.
With the breakthrough in battery technology and innovations from leading automakers leading to greater range and efficiency, it is safe to say that new vehicles from all major automakers will be fully electric by 2040, and as we saw above, the luxury sector is more likely to be go this route sooner than later.
Related: 4 worst-performing electric vehicle stocks in May
Two-wheeled electric vehicle boom
The electric motorcycle must be considered when converting to electric vehicles. The pandemic has had a direct impact on accelerating the shift towards electrical energy in the two-wheeled world.
It should be noted that around one billion people around the world use electric motorcycles as a means of transport. This is a popular method of transportation, especially in India and other Asian countries. The acceptance of electric motorcycles as a cheap and convenient means of transport was noticed in the western world in 2020, as the pandemic had an impact on transport and movement behavior.
Well-known brands like Harley-Davidson have hit the market, the model in question is the Livewire, and newcomers to the market Damon Motors – a Canadian company – have made great strides in the high performance electric motorcycle market. Iconic scooter manufacturer Vespa has also entered the electrical market, a sign that – as with the world of four-wheeled vehicles – two-wheeled electric vehicles are becoming mainstream.
Since motorcycles are the preferred mode of transport in the densely populated Asian countries, there is no doubt that this market will benefit greatly from improvements and advancements in electric motorcycle technology.