Peep this chart, bruh:
As you probably know, innovations are constantly being made in the field of non-gas-dependent vehicles. I mean, Uncle Sam will subsidize your company if it means you are producing “clean energy” products. Shit, Uncle Sam will even make a CEO filthy rich if it means he/she is trying to produce “clean energy” products…
Bloomberg provided the chart above in a piece titled: Here’s How Electric Cars Will Cause the Next Oil Crisis. Obviously oil has been getting destroyed over the past 18-months. This makes gas cheaper and consumers more likely to buy/ utilize products that are dependent on a cheap natural resource.
However, as technologic advancements continue to emerge in the field of Electric Vehicles (and the price of oil eventually rises), we will see a total revolution in the automobile industry. That said, the revolution will be highly dependent on the development of car batteries going forward. With the current growth-rate of “battery innovation” (…), eventually EV’s will be so efficient,durable, and easy to charge that the standard automobile business will experience an overhaul.
Peep this other chart showing estimated growth in EV’s going forward, bruh:
According to Bloomberg, by 2040, electric vehicles will make up 35% of all new vehicle sales. And to be honest, that’s kind of disappointing….