What Happened that Electric Cars are not as Popular as Expected?

What Happened that Electric Cars are not as Popular as Expected?

According to some predictions, electric vehicles will become as popular a product as smartphones, but that hasn't happened yet. Read on for more information!

According to some predictions, electric vehicles will become as popular a product as smartphones, but that hasn't happened yet. Read on for more information!

When Apple began work on its electric vehicle project in 2014, it seemed to validate the idea that electric cars will succeed smartphones as the next great technology that would change the world. According to Jeff Williams, executive of the apple company, said in 2015, the car is that "the last mobile device".

However, 7 years later, there is no Apple Car, which according to various media would not arrive, at the earliest, until 2024. Meanwhile, electric vehicles are only a small part of vehicle sales in the United States and in most countries.

When Apple began work on its electric vehicle project in 2014, it seemed to validate the idea that electric cars will succeed smartphones as the next great technology

For years, several specialists in the automotive industry have promised that the electric revolution is just around the corner, with companies such as Ford or General Motors in danger of being the next Nokia if they fail to move beyond motors. internal combustion.

According to various predictions, electric cars could follow the same path.

Once battery costs have lowered the price of electric cars, the benefits of switching to one - more storage space, faster acceleration, ability to recharge at home - would be obvious.

"The decision between having an electric car or a combustion one will be similar to changing from a traditional mobile phone to a smartphone, something that happened naturally," noted the authors of an International Monetary Fund working paper in 2017. "According to the prices are equal to those of the combustion vehicle, the replacement will be fast, "they added.

According to various predictions, electric cars could follow the same path.

But electric vehicles accounted for just 2% of total US car sales in 2020. And several companies far removed from the industry, from tech companies to startups, have failed to replicate Tesla's success. While electrics are clearly the future of the industry, it does not appear that they have begun their dominance of the market.

Electric cars have not evolved like smartphones for a number of reasons. First, they are more expensive than internal combustion engines, dealerships don't bid as aggressively for them because they bring in less service revenue, and consumers tend to trust their cars for longer than their phones.

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