All the major car producers are mobilising their resources in electric vehicle (EV) production, as it promises to transform the planet earth. With more green environmentalism and pressure to build zero-emission cars, and come out with something new to compete within the industry and market. EV will be a new growing market, every carmaker is mobilising their resources to hope to seize up the market with their own vision of EV with their EV portfolio.
As everyone expects, in the next 10 years, at least half of the cars will be zero emission. That means, if you have not yet started to produce and sell the EV, you are in the shrinking market eventually. Instead of seeing only a few models, we are expected to see a variety of the EV rollout in the short time.
Despite the fact that a lot of consumers are not ready to buy EV, due to the price and infrastructure not in place yet, all car producers bid on the government to ready the infrastructure. As EV required infrastructure in place, and it takes time for every country to roll it out. As expected, smart cars are expected to market, it matters who will produce a dream car everyone wants to get one. Petrol and diesel cars are now starting their sunset with the rise of EV. Every existing car maker is already on the road map to launch EV, as no one can afford to enter the market too slow. More and more governments will start setting targets to ban the sale of petrol and diesel vehicles during the year to come, so it sets the incentive for everyone to get EV replacement. As everyone understands, technological revolutions make the internal combustion engine become obsolete technology, just see how the battery is powered almost everyday. EV is the future now, are you ready for the car industry transformation that is to come? For those in the oil & gas sectors, are you in the plan on how to address this coming future? The time for new products to take over the market is shortened, from 10 years to a shorter time. Market expect EV to most likely take over the market in less than 10 years. With the battery power, total cost of transport is unbeatable lower than previous technology generation with petrol and gas powered. And it becomes cheaper over time for the new EV productions at scale. The higher the mileage the car expects, the more economical incentive to switch over earlier, due to cost saving.
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