It seems like every car company is now flirting with at least one electric model as much of the auto industry prepares for the inevitable full switch to EVs. As world governments continue to pivot to greener energy and cutting emissions, the switch from conventional engines to EVs is only a matter time.
How fast can we expect conventional cars to go extinct, though? Many experts predict the phase-out to be slower than some expect, with 2050 being likely to be the first year that half of all cars on the road will be electric. The reason for this slow adoption rate? Economies of scale.
As items like batteries and the components needed for electric drive trains become more widely available, they’ll become cheaper. For now, however, EVs are hard for the average person to get due to their higher up-front costs compared to conventional vehicles. As most vehicles on the road are over 10 years old, it only makes sense that it will take a long time for widespread adoption of EVs as a main mode of transportation.