Why the electric vehicle revolution is here?
I know, you probably haven’t even driven one yet, let alone contemplated buying one, so his prediction may be bold, but we’ve just got our 1st electric vehicle, and agree with everything he says.
Rowlatt believes we are in the middle of the biggest revolution in motoring since Henry Ford’s first production line started turning back in 1913.
And it is likely to happen much more quickly than you imagine.
He says: “Many industry observers believe we have already passed the tipping point where sales of electric vehicles (EVs) will very rapidly overwhelm petrol and diesel cars”.
It is certainly what the world’s big car makers think.
Many of the vehicle leasing companies we deal with are already saying the total cost of ownership of an electric vehicle is now lower than either a petrol or diesel vehicle, and the argument is even more compelling for company vehicle drivers, with huge savings on fuel costs and tax liabilities.
Jaguar plans to sell only electric cars from 2025, Volvo from 2030 and last week the British sportscar company Lotus said it would follow suit, selling only electric models from 2028.
Rowlett confirms it isn’t just premium brands.
General Motors says it will make only electric vehicles by 2035, Ford says all vehicles sold in Europe will be electric by 2030 and VW says 70% of its sales will be electric by 2030.
But what makes the end of the internal combustion engine inevitable is a technological revolution. And technological revolutions tend to happen very quickly.
Rowlett then goes on to talk about the internet and how this has revolutionised how we communicate, operate and purchase products and services, predicting that electric vehicles will have a similar impact on an S curve trajectory over the next 25 years.
Companies that run big fleets of cars like Uber and Lyft are leading the switchover, because the savings are greatest for cars with high mileage needs. But, as prices continue to tumble, it’ll become a no brainer and we’ll all follow suite.
Although, the biggest challenge to electric vehicles hitting the mass market is still home charging solutions.
Those people who have off road parking can legally install a charge point with or without the current government OLEV / OZEV grant (depending on if they qualify).
But these people are the smallest percentage of the market, the mass market live in either terraced type property or apartments. This is where the government need to develop charging solutions.
We recently wrote the grant system is set to change next year to help people in more challenging charging situations, and solutions like cable gullies across pavements are in development.
As soon as solutions like pavement cable gullies are approved and grants are made available for these more challenging situations, the switch to electric vehicles will explode.
Range and price used to be the sticking point, but these issues have been addressed, with prices tumbling and range increasing up to 500 miles on some vehicles.
The electric vehicle revolution is here!
…and, if you are still sceptical, we suggest you try an electric car out for yourself.