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The growth of electric vehicles continues to surge

the-growth-of-electric-vehicles-continues-to-surge

Sales of cars powered solely by batteries surged in the United States, Europe and China last year, while deliveries of fossil fuel vehicles were stagnant. Demand for electric cars is so strong that manufacturers are requiring buyers to put down deposits months in advance. And some models are effectively sold out for the next two years.

As noted by The New York Times, the rise of electric vehicles represents the largest shift in the auto industry since the introduction of Henry Ford’s Model T. Their sales account for nearly 9 percent of new cars sold last year, which is up from 2.5 percent in 2019, according to the International Energy Agency. This is just the start, with the auto industry set to invest half a trillion dollars over the next five years to make the transition to electric vehicles. 

The move away from fossil fuel-powered vehicles is a step forward in combating climate change and creating a more sustainable automotive industry. However, the jobs of the millions of Americans that produce, sell, and service cars and auto parts are at risk. There are also the issues of rising prices for battery ingredients, such as lithium, nickel, and cobalt, along with current limitations of EV infrastructure, namely the lack of public charging stations.

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