According to a new report, electric cars will be cheaper than conventional cars by the year 2022. Although the desire to save money on gas motivates some folks to buy EVs (electric vehicles), overall EVs are more expensive than their conventional counterparts, which is a deterrent for many.
The high cost of the battery is the major reason why EVs cost more, but over the next few years the cost of batteries is projected to go way down, which will likely spur a mass production of more affordable EVs. The development and sale of EVs is seen as a crucial piece in reducing the carbon emissions that have contributed to climate change on our planet as well as cutting back on the urban air pollution that causes so many health issues and deaths each year.
As of right now, EVs make up only about 1% of the cars on the road, but with the cost reduction there is hope that they will start to make up a much larger percentage in the coming decade. The countries who make stricter carbon emissions regulations over the next several years will see a greater rise in EV sales, so let's hope the countries who participated in 2015's UN Paris Climate Summit are truly committed to change.
We at Water Gallery are proud to be part of the 1% of drivers with EVs in 2016-- we pick up our beautiful new Tesla Model S this coming Tuesday and we could not be more thrilled to participate in the movement towards carbon emissions reduction.