A small but significant step forward was taken for the electric vehicle industry with the recent release of the Tesla Model 3. It’s the first reasonably priced electric vehicle to hit the market at only $35,000 before tax incentives. This signifies the start of an inevitable shift that will take place within our lifetimes from gasoline and diesel powered vehicles to completely electric powered forms of transportation.
The price of electric vehicles has decreased sharply over the past decade and will continue to drop as the infographic from TopAutoTools depicts below. This decrease in the cost of electric vehicles is coming right in time to offer a viable solution to the imminent oil crisis that will take place this century. Experts predict that our current total worldwide fossil fuel reserves will last less than 50 years. By that point, electric vehicles will have made gas and diesel powered vehicles obsolete for all practical purposes.
Electric vehicle sales in the United States has seen an increase of over 750% in a period of only four years. Electric vehicles are much more than just a way of getting around. They represent support for the shift to green energy. Some owners use them as a sort of political statement, hoping to set an example to others, that green energy should be embraced as soon as possible. Others see them as a fascinating piece of modern technology and love the novelty of owning them. Whatever the reason may be that current buyers are turning to electric powered vehicles, projections show that soon they won’t be the only ones on their block to own an all-electric vehicle.