Following the new rush on electric vehicles, New York Senator Chuck Schmidt filed a proposal that made it a requirement for all American vehicles to be electric by the year 2040. However, there are views on this that claim it might not be as simple as stated. State emission experts claim that replacing all fuel induction vehicles with electric ones would not be enough to make a meaningful change on carbon emissions to the atmosphere
Among the many challenges the bill faces is that a majority of consumers prefer fuel-based vehicles to electric ones. It comes as no shock due to their expensive prices. For instance, the battery pack in an Electric Vehicle (EV) cost around $12000 in a normal car. This figure accentuates that the practicality of these cars is only attainable by the top 1%.
Factually speaking, cars comprise the largest portion of household expenditure, two times the amount spent on healthcare for an average household. This it’s evident that consumer is concerned about price, but legislators ignore this to the disadvantage of the consumer
Americans look for value for their money; with this, it would make sense for carmakers to content electric vehicles to reduce production costs. This might inevitably mean to remove features that appeal to most of the market which would be a bummer for car enthusiasts
Take it into consideration also that large utility vehicles like SUV’s and pickups take up close to 70% of the total cars bought
For the production of EV’s to be made affordable, the government would need to pump $2trillion into the industry. Unfortunately so, such a large amount is not readily available. However would such an investment be made, electronic vehicle prices would reach comfortable levels for consumers
China has also come to reality with the environment saving plan, despite it being the highest gainer should the move come into play. This is because China is the major manufacturer of lithium power batteries used in EV’s
In the meantime, the legislative move mainly claims to intend on reducing global carbon emissions. However, research shows that should this come into place. It would only cut back emissions by less than 8percent
Studies also reveal that although EV’s reduce carbon emissions, they do not mainly save the planet as much. This current claim is stemmed from the fact that batteries used in electric cars require oil to be manufactured. It requires 80 to 300 barrels of oil to manufacture a battery capable of producing a barrel’s worth of power. Therefore EV’s seemingly have a carbon debt claim on them.
Evs certainly provide exciting opportunities for niche markets. However, their sales are dwarfed with Tesla selling 500,000 cars as compared to 2.5million sold by Ford Mustang