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Why electric cars will take over sooner than you think

6/7/2021

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I know, you probably haven't even driven one yet, let alone seriously contemplated buying one, so the prediction may sound a bit bold, but bear with me.

We are in the middle of the biggest revolution in motoring since Henry Ford's first production line started turning back in 1913.

And it is likely to happen much more quickly than you imagine.

Many industry observers believe we have already passed the tipping point where sales of electric vehicles (EVs) will very rapidly overwhelm petrol and diesel cars.

​It is certainly what the world's big car makers think.

Jaguar plans to sell only electric cars from 2025, Volvo from 2030 and last week the British sportscar company Lotus said it would follow suit, selling only electric models from 2028.

Jaguar I-Pace (I-PACE) battery-electric crossover SUV on display at Brussels Expo on January 9, 2020 in Brussels
IMAGE SOURCE,GETTY IMAGES
Image caption,
Jaguar plans to sell only electric cars from 2025

And it isn't just premium brands.

General Motors says it will make only electric vehicles by 2035, Ford says all vehicles sold in Europe will be electric by 2030 and VW says 70% of its sales will be electric by 2030.

This isn't a fad, this isn't greenwashing.

Yes, the fact many governments around the world are setting targets to ban the sale of petrol and diesel vehicles gives impetus to the process.

But what makes the end of the internal combustion engine inevitable is a technological revolution. And technological revolutions tend to happen very quickly.

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This revolution will be electric
Look at the internet.

By my reckoning, the EV market is about where the internet was around the late 1990s or early 2000s.

Back then, there was a big buzz about this new thing with computers talking to each other.

Jeff Bezos had set up Amazon, and Google was beginning to take over from the likes of Altavista, Ask Jeeves and Yahoo. Some of the companies involved had racked up eye-popping valuations.

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