By 2025 20% of all new cars sold globally will be electric, according to the latest forecast by investment bank UBS. That will leap to 40% by 2030, and by 2040 virtually every new car sold globally will be electric, says UBS.
Many of you may not have even driven an EV yet, nor contemplated buying one, but we’re currently in the middle of the biggest revolution in motoring since Henry Ford's first production line started back in 1913. And this movement is likely to happen far more quickly than you can imagine. Now is a great time to invest in EV.
Jaguar plans to sell only electric cars from 2025, Volvo from 2030 and last month British sports car company Lotus said it would have just electric models from 2028.
And it isn't only 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.
The fact that many governments around the World are setting targets to ban the sale of new gas and diesel vehicles gives impetus to the process. But what makes the end of the internal combustion engine inevitable is a technological revolution. And technological revolutions tend to happen very quickly.
This revolution is electric!
In the late 90s the internet hit the masses. Back then, the buzz was all about this new thing 'that computers were talking' to each other. Jeff Bezos set up Amazon and Google was starting to take over the search bar.
But the internet didn't gradually evolve, it was explosive & disruptive, crushing existing businesses and changing the way we do almost everything today.
GM’s now infamous EV1 20 years ago cost a billion dollars to develop but was considered a dud by GM.
But it took Elon Musk’s passion and vision to produce a car that could get 300 miles on a single charge and accelerate from 0-60 in under 4 seconds. Now things are about to accelerate, and fast!!
There are mega improvements in the motors that drive electric vehicles, the computers that control them, charging systems and design. 10 years ago it cost $1,000 per kilowatt hour of battery power and that’s now down to about $100.
Last year the World's first battery capable of powering a car for a million miles was unveiled by the Chinese battery maker, CATL. And companies that run huge fleets of cars like Uber and Lyft are leading the switchover to electric, because the savings are greatest for cars with high mileage.
Like the internet in the 90s, the electric vehicle market is already growing exponentially.
Global sales of electric cars raced forward in 2020, rising by 43% to a total of 3.2m, despite overall car sales slumping by a fifth during the coronavirus pandemic. BAM ties everything together with the added mix of outdoor adventure.
Invest in BAM today! #TheElectricUTV ✌️
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