The electric car segment has seen a surge in demand lately. This market saw a 500% rise in sales during 2020 alone whereas one in every five vehicles sold last year in Europe was based on the electric platform.
The huge increase in the popularity of these vehicles is likely to bring several changes in electric car policies in the current year.
Big Changes Are Coming
Many automakers are already sold out with their present electric vehicle models. Furthermore, the companies that are just offering ICE vehicles now feel threatened.
Such companies might even cease to exist in the future if they don’t adopt the rapidly changing dynamics as the EU aims to ban the sales of all ICE vehicles by 2035.
Automakers Are Already Adapting To Changes
According to New York Times, Ford is considering doubling the production capacity of the F-150 Lighting to meet demands.
This is crucial for the company as this is the biggest change for Ford since its inception in 1903.
It is worth noting that the F-150 has been America’s best-selling truck for the past several years. Even Ford is unsure whether it will be able to continue its streak without adopting the electric platform.
Chevrolet is also following up close with its EV variant of Silverado and GM’s Hummer EV is being viewed as one of the most anticipated vehicles of the future.
Ford Splitting Up Its Line Of Operations Is A Positive Sign
The recent news of Ford splitting up its operations into Ford Blue and Ford Model E is another indication of where we are headed in the current year and beyond.
This indicates that the situation is worrisome but not for those who have been at the forefront of the revolution.
Billions Of Euros Going Into The EV Segment
An investment firm called Wedbush Securities has stated that the EV segment is soon likely to gulp in a mega-investment of around €0,45 trillion.
Although the investment will be diverse and widespread, the overall result will be the same i.e. it will push the EV segment in the forward direction.
A Threat To Jobs Or A Bread Earner?
The 2022 EV policy might also put an end to the jobs of around three million people currently employed by the conventional automotive segment. These individuals are presently employed by several companies like:
– Fuel injector manufacturers;
– Performance exhaust producers;
– Air In-take manufacturers.
However, it is also to be noted that the EV segment is likely to make up for the lost jobs but a lot of skill makeover will be required.
Expectations Are Higher Than Ever Before
As more and more companies are making promises of making concentrated efforts to improve the climate conditions, expectations of environmentalists have been on the rise.
Governments Are Dedicated To The EV Field
New rules and regulations are already being formulated for the EV segment. Further to that, subsidies are being offered on the purchases of these vehicles to boost their sales.
Heavy Investment By The US Government
The US government has already approved €6,78 billion for setting up 500,000 new electric chargers in the country. This is likely to start from 2022 and thus the changes will be felt soon.
The US government is already in contact with an Australian company called Tritium which promises to manufacture around 30,000 EV chargers annually.
As governments and automakers are highly invested in the field of electric vehicles, we have a lot of hopes for the year 2022 and the recent electric car policy.