Automakers are going ahead with billions of dollars of investments in the electric vehicles sector. This is despite the fact that the demand for electric vehicles or EVs remains down in the USA. In fact, according to experts in the field, automobile companies are moving ahead with a fleet of new electric vehicle (EV) models. This could be due to the rising regulatory requirements internationally.
In the past year, only 2 per cent of US auto sales comprised full electric or plug electric hybrid models. Tesla Inc. made up for more than a third of the sales. The United States of America ranks 7th in EV sales market as a percentage of the overall sales. The figures have been put out by the International Energy Agency.
Automobile Companies Investing Heavily in Electric Vehicle Market
An official said that they expect EV sales for automobile companies to be relatively modest till the time the prices, charging infrastructure, and battery performance enhance significantly. However, EV sales could rise in government as well as corporate fleets. He was expressing his opinion at the New York auto show which happened quite recently. In New York city, industry executives opine that the automobile companies faced many hurdles when they went about selling EVs or electric vehicles. Some of the factors that they particularly pointed out were: lack of awareness together with consumer education, low fuel prices, low residual values, high up-front costs due to battery packs.
They also cited consumer apprehensions and concerns about the availability of the charging infrastructure. Despite all these factors, automakers have been showing more creative and sportier electric vehicles or EVs than the original plug in models which were usually small cars. In spite of the hurdles and concerns, the experts advised patience for automobile makers and automobile companies and even advised them to practice patience even as the markets continue to mature and sales could see a dramatic spike by the end of the next year.
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