Electric cars are the future. And they’re not just the future; they’re also the present for more and more consumers. Manufacturers are racing to produce the best electric vehicles that will blow out the competition. Whenever there’s fierce competition, you can expect to see technological innovations.
Where Electric Vehicles Are Catching Up
One area that they’ve been quickly making up ground is with their batteries. Look for improvements in the battery that lead to a longer maximum distance between charges. Also, don’t be surprised if the electric car battery is completely reimagined and works very differently from today’s lithium-ion batteries.
People in the 1920s would probably be shocked to see how far vehicles have come in the past 100 years, and today’s generation probably can’t quite fathom the advancements coming for electric cars in the coming years.
Ultimately, the price of these cars is going to be a big difference maker. EV’s are still somewhat of a luxury item and it needs to become more affordable for the average family, but the trends are certainly heading in the right direction.
Electric Vehicles and Insurance
In the U.S., most insurance companies offer a discount and even the government is offering car insurance assistance for hybrid and electric vehicles. The thinking is that these cars cause less damage in an accident and are involved in fewer accidents overall. As more people switch to electric cars, expect even more insurers to get on board and offer savings.
Auto industry expert Melanie Musson notes that while electric cars are making strides in terms of creating a more popular offering for people, the added boost of insurance incentives is a huge feather in the cap for the industry. When you look at the data for car insurance rates by zip code, it’s already clear that the trends are looking good for the EV industry.
Where Electric Cars Are Still Behind
Not everything is rosy though.
Philip Westfall, Director of Marketing at RV Ezy notes that while EVs have made progress in some areas, they’re still only suitable for local commutes. The move to make the trucking industry electric is going to be disastrous if implemented. With the entirety of the US already facing supply chain issues, having electric vehicles with a maximum range of less than 400 miles (best case scenario) will ensure that the supply chain will never recover.