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Prediction: 50 percent of new car sales will be EVs by 2035

By Lee Cleveland - March 13, 2023

Goldman Sachs’ recent research report showed that by 2035, electronic vehicles (EVs) are expected to account for around half of all new car sales globally. This illustrates the huge potential for EV growth in the near future.

As more and more people understand the perks of using electric-powered vehicles, governments and citizens are making the switch from traditional internal combustion engines. And this shift towards electric-based solutions has been welcomed with open arms by governments.

But aren’t EVs much more expensive than traditional automobiles?

And what about charging points? There aren’t enough of those. And given that fully-charged EVs travel less distance than gas-powered cars on a full tank, that’s not a good thing.

For a lot of households today, an EV would be less convenient than the traditional automobile for the aforementioned reasons and others.
And, Goldman Sachs Research acknowledges there are a few significant hindrances restraining the EV sector today. Nonetheless, experts are hopeful that cutting-edge technology will result in increased competition, government incentives, and falling prices of battery-related products and vehicle components, making EVs more affordable and paving the way for a greener and more sustainable form of transportation.

EV Car Facts & Stats (Via Bankrate.com)

  • An EV would cost only $1 in energy to travel the same distance as a gallon of gas, which currently averages $3.04. (Energy.gov)

  • A Tesla Roadster is faster than most sports cars, with an acceleration speed of 0 to 60 in 1.9 seconds. To compare, a Ferrari or Lamborghini accelerates from 0 to 62 in 2.8 to 2.9 seconds. (Tesla and Auto Express)

  • Roughly 96% of EV owners would buy or lease another one. (AAA)

  • EVs are more efficient. Up to 80 percent of the battery energy powers the vehicle, compared to 14% to 26% of the energy from a gasoline-powered car. (Energy.gov)

  • About 57% of consumers avoid EVs because they worry about running out of charge but only 5% of owners have run out. (AAA)

This story was first reported by MENAFN.com