FAB L' STYLE

electric car

Catching up with the Future

Electric cars are paving the road for high-performance automobiles that are both efficient and affordable. In a race to become the next big thing in this growing and so-far profitable industry of electric vehicles, numerous companies are working tirelessly at achieving excellent results. Here is what the future of electric cars looks like…

A recent report from Bloomberg New Energy Finance has estimated that by 2040, 58% of the cars sold will be electric. Even though traditional cars which run on oil are still the most popular choice when it comes to automobiles, people are increasingly looking towards this greener option. One of the reasons attributed to this fact is the depletion of oil as a natural resource, increasing scarcity, and the inflated prices of diesel and petrol. Sustainability and Environmentally friendly alternatives are available to us more and more each day!

A heightened demand

With the heightened interest and demand in electric cars, numerous venture capital firms have shown superb enthusiasm in investing in this domain. In 2019, Rivian, an American automobile company that specializes in sustainable transportation, raised additional investments amounting to a figure of $1.3 billion. Another market leader in high-tech electric vehicles, Tesla, has been performing fantastically well on this front.

Tesla debuted the Cybertruck, which has been superbly received by the market. Owing to the great reception and big profits turned, Tesla announced that the Model S and Model X would be available in a boosted range. People are increasingly looking towards swapping out their energy combustion engine vehicles and using new and advanced electric vehicles. The estimates of this automobile segment booming are so strong that Toyota is working towards generating half of its sales to electric vehicles within the next five years. 

electric car

Highly sustainable alternatives

Since electric cars are highly sustainable, they are getting a lot of traction as the future of vehicles. One of the most environment-friendly electric cars in this respect is the Hyundai Ioniq Electric. In a recent assessment conducted by the American Council for an Energy-Efficient Economy, the Hyundai Ioniq Electric registered a Green Score of 67. This is superbly impressive since most electric cars to date have only managed to register a maximum score of 42.

With an ever-increasing need to save the planet by adopting as many green alternatives as we can, the demand for electric cars is only going up! We might not have flying cars in the near future, but electric cars are a step in the right direction!

On another note, have you ever thought of car sharing with people commuting in the same direction as you? Alternatives also include using public transportation, e-bikes, electric scooters, rollers or the many other forms of lowering our fuel intake which can be valuable forms of transportation for our environment. EV’s can also reduce the emissions contributing to climate change. As well as improving public health and reducing ecological damage. 

How about no fuel at all? Try cycling, skating, or taking a long stroll back home from work.

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FAB L’Style is an international Fashion & Lifestyle magazine with a focus on emerging markets.