Electric cars are changing a lot...Past, Present, Future

Reuters reported that European Union countries gave final approval to a significant law aimed at ending the sales of new CO2-emitting cars by 2035. This approval follows Germany's securing an exemption for cars running on e-fuels. The EU energy ministers' endorsement means that this major climate policy for cars can now be implemented, despite delays caused by last-minute opposition from Germany. The new law mandates that all new cars sold from 2035 onwards must have zero CO2 emissions. Additionally, it requires a 55% reduction in CO2 emissions from new cars by 2030 compared to 2021 levels. These targets are set to accelerate the decarbonization of new car fleets across Europe. In 2020, most people around the world liked the idea of electric cars. More and more people were becoming aware of the benefits of electric cars, such as lower carbon emissions and lower operating costs. Governments and private companies all over the world were putting money into making electric cars and charging stations, and automakers were putting out new models with better performance and longer battery life. Consumers were also becoming more interested in electric cars, and many saw that they could help protect the environment and make transportation more sustainable. Many cities and countries have also put in place things like tax credits, subsidies, and access to HOV lanes to encourage people to buy electric cars. But electric cars were still not widely used because they were expensive up front, had a short range, and some places didn't have the infrastructure to charge them.

Electric car critics are also worried about how much energy it takes to make the batteries and how making electric cars affects the environment. Even with these problems, people around the world still like electric cars, and the move to electric mobility is getting more and more support. This was caused by a growing sense of urgency to deal with climate change and reduce reliance on fossil fuels, as well as by improvements in battery technology and the design of electric vehicles. In the end, people all over the world had a positive view of electric cars in 2020. More and more people saw the benefits and potential of electric cars, and efforts were still being made to overcome the problems that were keeping them from being widely used.

In 2021, people all over the world still liked electric cars. More and more people saw the benefits and potential of electric cars. The global market for electric vehicles kept growing, thanks to improvements in battery technology and the release of more new electric vehicle models. Governments all over the world continued to offer tax credits, subsidies, and access to HOV lanes as ways to get people to buy electric cars. As more people learned about how good electric cars are for the environment, consumers also became more interested in them. Many people realized that, compared to gasoline-powered cars, electric cars have lower operating costs, lower carbon emissions, and better driving performance. Also, electric cars were getting cheaper because new models with lower prices were coming out. But there were still problems that kept electric cars from being widely used, like a short driving range and a lack of charging stations in some places.

Electric car critics are also worried about how much energy it takes to make the batteries and how making electric cars affects the environment. Even with these problems, people around the world still like electric cars, and the move to electric mobility is getting more and more support. This was caused by a growing sense of urgency to deal with climate change and reduce reliance on fossil fuels, as well as by improvements in battery technology and the design of electric vehicles. In the end, people around the world had a positive view of electric cars in 2021. More and more people saw the benefits and potential of electric cars. Even though there are still problems, the market for electric cars is expected to keep growing as more people learn about how good they are for the environment and the economy. As the switch to electric cars continues to gain speed, people around the world will probably start to like them even more in the coming years.

In 2022, people all over the world still like electric cars. More and more people saw the benefits and potential of electric cars.

The global market for electric vehicles kept growing, thanks to improvements in battery technology and the release of more new electric vehicle models. Governments all over the world continued to offer tax credits, subsidies, and access to HOV lanes as ways to get people to buy electric cars. As more people learned about how good electric cars are for the environment, consumers also became more interested in them. Many people realized that, compared to gasoline-powered cars, electric cars have lower operating costs, lower carbon emissions, and better driving performance. Also, electric cars were getting cheaper because new models with lower prices were coming out. But there were still problems that kept electric cars from being widely used, like a short driving range and a lack of charging stations in some places. Electric car critics are also worried about how much energy it takes to make the batteries and how making electric cars affects the environment.

Even with these problems, people around the world still like electric cars, and the move to electric mobility is getting more and more support. This was caused by a growing sense of urgency to deal with climate change and reduce reliance on fossil fuels, as well as by improvements in battery technology and the design of electric vehicles. In conclusion, the world's view of electric cars in 2022 was positive, with more and more people realizing their benefits and potential. Even though there are still problems, the market for electric cars is expected to keep growing as more people learn about how good they are for the environment and the economy. As the switch to electric cars continues to gain speed, people around the world will probably start to like them even more in the coming years.

In 2023, electric cars have changed a lot because battery technology has come a long way and there are more and more new electric car models on the market. In recent years, the global market for electric vehicles has grown quickly. This is because people are becoming more aware of how important it is to fight climate change and use less fossil fuels. In the past few years, battery technology has improved a lot. New materials and better ways to make batteries have led to higher energy density, longer driving range, and faster charging times. This has made it possible for car companies to make new models with better performance, a longer range, and lower prices. Also, the infrastructure for charging electric cars has grown, with new charging stations being put in cities and along highways. This has made it easier for people who own electric cars to charge them, which has made range anxiety less of a problem and made electric cars better for everyday use.

Governments all over the world have also played a role in the development of electric cars. For example, many offer tax credits, subsidies, and access to HOV lanes to get people to buy electric cars. Also, many cities and countries have made rules to encourage the use of electric cars, like making it hard to drive a gas-powered car in the city center. Even with these improvements, electric cars are still not widely used because they have a limited range and some places don't have the infrastructure to charge them. People who don't like electric cars also worry about how much energy it takes to make the batteries and how making electric cars affects the environment.

In 2023, electric cars have changed a lot because battery technology has come a long way and there are more and more new electric vehicle models on the market. Even though there are still problems, the market for electric cars is expected to keep growing as more people learn about how good they are for the environment and the economy. As the switch to electric cars continues to gain speed, people around the world will probably start to like them even more in the coming years. It's hard to say for sure what will happen in the electric car market in 2024 because it will depend on a lot of things, such as changes in technology, consumer tastes, and government policies. But based on how things are going now, it seems likely that the market for electric cars will continue to grow in the years to come. Electric cars should become even more popular as battery technology and charging infrastructure improve, making them more useful and easy to use in everyday life.

Also, the price of electric cars is expected to keep going down, making them easier for more people to buy. It is also expected that governments around the world will continue to offer incentives and push for policies that help people buy electric cars. This is likely to make more people want to buy electric cars and keep the market for electric cars growing. Even though these are all good signs, electric cars may still not be widely used because they have a limited range and some places don't have the infrastructure to charge them. But these problems will likely be solved in the coming years, as technology keeps getting better and more people want to buy electric cars. In conclusion, it is expected that the market for electric cars will continue to grow in 2024. This will be caused by improvements in technology, falling prices, and government policies that support electric cars. But there may still be problems that make it hard for everyone to use them. It is important to keep working on these problems to make sure that the switch to electric mobility goes smoothly. 

What about the growth trends of the electric car marketplace in Asia?

The electric car marketplace in Asia has seen significant growth in recent years, driven by a combination of government incentives, consumer demand, and improvements in battery technology. Here are some key trends in the growth of electric cars in Asia:

1. China: China is the largest electric car market in the world, accounting for over half of all electric cars sold globally. The Chinese government has provided generous subsidies for electric car buyers, and many Chinese cities have implemented policies to encourage electric car use.

2. Japan: Japan has been a leader in hybrid car technology for many years, but it is now also investing in electric cars. The Japanese government has set a goal of having electric cars account for 50% of new car sales by 2030.

3. South Korea: South Korea is home to several major electric car manufacturers, including Hyundai and Kia. The South Korean government has provided incentives for electric car buyers and is investing in charging infrastructure.

4. India: India has set an ambitious goal of having only electric cars on its roads by 2030. The Indian government has provided incentives for electric car buyers and is investing in charging infrastructure, although progress has been slower than in other Asian countries.

5. Southeast Asia: Several countries in Southeast Asia, including Thailand and Indonesia, have seen growing interest in electric cars in recent years. However, adoption has been slower than in other parts of Asia due to lower consumer awareness and limited charging infrastructure.

Overall, the growth of the electric car marketplace in Asia has been driven by a combination of government policies, consumer demand, and advances in battery technology. While China has been the largest market so far, other countries in Asia are also investing in electric cars and working to build out charging infrastructure.

What about the market for electric cars in Europe?

The market for electric cars in Europe has been growing rapidly in recent years, as governments and consumers increasingly prioritize environmental sustainability and reducing carbon emissions. Here are some key trends in the growth of electric cars in Europe:

Norway: Norway has the highest per capita adoption of electric cars in the world, with electric cars accounting for over half of all new car sales in the country. This has been driven by a combination of generous government incentives, a well-developed charging infrastructure, and strong consumer demand.

Germany: Germany has been investing heavily in electric cars in recent years, with the goal of having one million electric cars on its roads by 2022. The German government has provided incentives for electric car buyers and is investing in charging infrastructure.

United Kingdom: The United Kingdom has set a target of banning the sale of new gasoline and diesel cars by 2030, which is expected to accelerate the adoption of electric cars in the country. The UK government has also provided incentives for electric car buyers and is investing in charging infrastructure.

France: France has set a goal of having electric cars account for 30% of new car sales by 2030. The French government has provided incentives for electric car buyers and is investing in charging infrastructure.

Other European countries: Several other European countries, including the Netherlands, Sweden, and Denmark, have also seen strong growth in the adoption of electric cars in recent years.

Overall, the market for electric cars in Europe has been driven by a combination of government policies, consumer demand, and advances in battery technology. While some countries have seen faster adoption than others, the trend toward electric cars is expected to continue as governments and consumers prioritize sustainability and reducing carbon emissions.

What about the market for electric cars in North America?

The market for electric cars in North America has been growing steadily in recent years, as consumers increasingly prioritize environmental sustainability and reducing carbon emissions. Here are some key trends in the growth of electric cars in North America:

United States: The United States is the largest car market in North America and has seen significant growth in the adoption of electric cars in recent years. Several states, including California and New York, have implemented policies to encourage electric car use, and the federal government has provided tax credits for electric car buyers. Tesla, which is based in the United States, is also one of the largest electric car manufacturers in the world.

Canada: Canada has also seen growth in the adoption of electric cars in recent years, driven by government incentives and a growing charging infrastructure. The Canadian government has set a goal of having 100% of new cars sold in the country be electric by 2040.

Mexico: While the adoption of electric cars in Mexico has been slower than in the United States and Canada, the Mexican government has set a goal of having electric cars account for 30% of new car sales by 2025. Mexico has also been investing in charging infrastructure to support the growth of electric cars.

Overall, the market for electric cars in North America has been driven by a combination of government policies, consumer demand, and advances in battery technology. While adoption has been slower in some areas than in others, the trend toward electric cars is expected to continue as governments and consumers prioritize sustainability and reducing carbon emissions.

What about the market for electric cars in South America?

The market for electric cars in South America is still relatively small, with adoption rates varying widely across the region. However, there are some signs of growth in the market for electric cars in certain countries. Here are some key trends in the growth of electric cars in South America:

• Brazil: Brazil is the largest car market in South America, but adoption of electric cars has been slow due to a lack of government incentives and limited charging infrastructure. However, the government has recently announced plans to implement policies to encourage the use of electric cars, including tax incentives and investments in charging infrastructure.
• Chile: Chile has one of the highest adoption rates of electric cars in South America, driven by government incentives and a growing charging infrastructure. The Chilean government has set a goal of having electric cars account for 40% of new car sales by 2050.
• Colombia: Colombia has also seen some growth in the adoption of electric cars in recent years, driven by government incentives and investments in charging infrastructure.

Other South American countries: The adoption of electric cars in other South American countries, including Argentina and Peru, has been slower due to limited government incentives and a lack of charging infrastructure.

Overall, the market for electric cars in South America is still relatively small, but there are some signs of growth in certain countries. Governments and companies in the region are beginning to prioritize the adoption of electric cars as a way to reduce emissions and promote sustainability, and this is expected to drive growth in the market over time.

How is the market for electric cars evolving in Africa?

The market for electric cars in Africa is still very small, but there are some signs of growth and increasing interest in electric vehicles across the continent. Here are some key trends in the growth of electric cars in Africa:

• Government incentives: Some African governments have started to implement policies to encourage the adoption of electric cars. For example, in 2018, the government of Rwanda announced that it would replace its entire fleet of government vehicles with electric cars, and in 2020, South Africa implemented a tax incentive for electric cars.
• Limited charging infrastructure: One of the main barriers to the adoption of electric cars in Africa is the limited charging infrastructure. However, some companies and organizations are beginning to invest in charging infrastructure in certain areas. For example, in 2021, Volkswagen announced plans to build a network of charging stations across South Africa.
• Increasing interest from car manufacturers: Several major car manufacturers have announced plans to expand their electric car offerings in Africa. For example, in 2020, Nissan announced that it would begin selling its Leaf electric car in South Africa.
• Challenges around affordability: The high cost of electric cars remains a major barrier to adoption in Africa, where many people cannot afford to buy a new car. However, some companies and organizations are exploring models that could make electric cars more affordable, such as leasing programs or shared mobility services.

Overall, the market for electric cars in Africa is still very small, but there are some signs of growth and increasing interest in electric vehicles across the continent. Governments, companies, and organizations are beginning to invest in charging infrastructure and explore new models to make electric cars more affordable, and this is expected to drive growth in the market over time.

How is the electric car marketplace in Australia maturing?

The market for electric cars in Australia is still relatively small compared to other countries, but it is slowly maturing as more electric car models become available and the charging infrastructure improves. Here are some key trends in the growth of electric cars in Australia:

• Increasing availability of electric cars: In recent years, more electric car models have become available in Australia, including popular models such as the Tesla Model S and Model 3, Nissan Leaf, and Hyundai Kona Electric.
• Government incentives: The Australian government provides some incentives for electric car buyers, including a luxury car tax exemption for electric cars and a rebate for home charging stations. However, these incentives are relatively small compared to those offered in some other countries.
• Charging infrastructure: The charging infrastructure for electric cars is still relatively limited in Australia, but it is improving. In 2021, the Australian government announced a $74.5 million investment to support the rollout of public fast-charging stations across the country.
• Consumer attitudes: Consumer attitudes towards electric cars in Australia are still mixed, with some people enthusiastic about the technology and others concerned about the cost and range limitations of electric cars.

Overall, the market for electric cars in Australia is slowly maturing, with more electric car models becoming available and the charging infrastructure improving. However, the market is still relatively small compared to other countries, and consumer attitudes toward electric cars are still mixed.

How has been Japan's attitude towards electric vehicles?

Japan has been a pioneer in the development of electric vehicles, and its government has been supportive of the technology for many years. Here are some key trends in Japan's attitude towards electric vehicles:

• Early adoption: Japan was one of the first countries to develop electric vehicle technology, with the launch of the Toyota Prius hybrid in 1997. Since then, Japanese automakers have been at the forefront of electric vehicle development, with models such as the Nissan Leaf and the Mitsubishi i-MiEV.
• Government support: The Japanese government has been supportive of electric vehicles for many years, providing subsidies and tax incentives for electric vehicle buyers, as well as investing in charging infrastructure. The government has also set targets for electric vehicle adoption, to have electric vehicles account for 50% of new car sales by 2030.
• Strong public interest: There is a strong public interest in electric vehicles in Japan, with many consumers eager to adopt the technology. According to a survey by Nissan, 78% of Japanese consumers said they were interested in electric vehicles.
• Collaboration with other countries: Japan has been working closely with other countries to promote the adoption of electric vehicles, particularly in Asia. For example, in 2010, Japan launched the Asia Clean Energy Forum, which aims to promote clean energy and low-carbon technologies, including electric vehicles.

Overall, Japan has been a pioneer in the development of electric vehicles and has been supportive of the technology for many years. The government has provided subsidies and tax incentives for electric vehicle buyers, invested in charging infrastructure, and set targets for electric vehicle adoption. There is also a strong public interest in electric vehicles in Japan, and the country has been working closely with other countries to promote their adoption.

HISTORY OF EVs

Electric vehicles, introduced over a century ago, are experiencing a resurgence in popularity for many of the same reasons that initially captivated consumers. Whether considering hybrid, plug-in hybrid, or fully electric models, the demand for electric drive vehicles is projected to increase as prices decrease and consumers seek cost-saving alternatives to gasoline. Currently accounting for more than 3% of new vehicle sales, electric vehicles are anticipated to represent nearly 7%—approximately 6.6 million units annually—of global new vehicle sales by 2020, according to a Navigant Research report. Given this renewed interest in electric vehicles, it is pertinent to examine both the historical development and future trajectory of this technology.

- The Genesis of the Electric Vehicle

The invention of the electric car cannot be attributed to a single inventor or nation. Rather, it emerged from a series of advancements in battery and electric motor technology during the 1800s. Early experiments in Hungary, the Netherlands, and the United States, including efforts by a Vermont blacksmith, led to the creation of some of the first small-scale electric cars. British inventor Robert Anderson developed a crude electric carriage during this period, but it was not until the latter half of the 19th century that practical electric cars were constructed by French and English innovators. In the United States, the first successful electric car debuted around 1890, courtesy of William Morrison, a chemist from Des Moines, Iowa. His six-passenger vehicle, which achieved a top speed of 14 miles per hour, was essentially an electrified wagon but played a crucial role in sparking interest in electric vehicles.

- The Early Rise and Decline of Electric Vehicles

By 1900, electric cars had reached their zenith, constituting roughly one-third of all vehicles on American roads. Their popularity was fueled by their quiet operation, ease of use, and absence of unpleasant exhaust fumes. This popularity persisted despite the availability of steam and gasoline-powered vehicles, each of which had its own set of drawbacks. Electric vehicles did not require the lengthy startup times or frequent water refills associated with steam cars, nor did they involve the arduous manual effort needed to operate early gasoline cars. As urban infrastructure improved and more people gained access to electricity, the appeal of electric vehicles grew, particularly among urban residents and women.

- The Electrobat: A Pioneering Effort in Electric Vehicles

The name "Electrobat" evokes a sense of innovation and ingenuity, fitting for one of the earliest commercially viable electric vehicle (EV) endeavors. Philadelphia inventors Pedro Salom and Henry G. Morris, leveraging technology from battery-electric streetcars and boats, secured a patent for their creation in 1894. Initially, the Electrobat was cumbersome and slow, resembling a trolley car with its steel tires and a massive 1600-pound battery. However, by 1896, advancements in design had enabled the use of pneumatic tires and lighter materials. The evolved Electrobat featured two 1.1-kilowatt motors, allowing it to travel 25 miles at a top speed of 20 miles per hour.

In 1896, Electrobats and another electric vehicle by Riker triumphed in a series of five-mile sprint races against gasoline-powered Duryea automobiles. This success demonstrated the potential of electric vehicles and marked a significant milestone in their development. Morris and Salom capitalized on their success by incorporating their business and advancing to the commercial phase. They constructed several electric Hansom cabs to compete with the horse-drawn cabs prevalent in New York City. This innovation attracted the attention of Isaac L. Rice, who incorporated the Electric Vehicle Company (EVC) in New Jersey. EVC garnered substantial investment and partnerships, leading to the operation of over 600 electric cabs in New York by the early 1900s, with smaller fleets in Boston, Baltimore, and other eastern cities.

One notable achievement of EVC was the creation of a battery-swapping station in New York, housed in a converted ice arena. This facility allowed cabs to exchange depleted batteries for recharged ones, significantly reducing downtime. Despite this innovative solution, the rapid expansion and internal conflicts among investors and partners led to the collapse of the taxi venture by 1907.

EVC's battery supplier, which was also an investor and partner, evolved into what is now known as Exide. The manufacturing partner, Pope, a pioneer in gasoline cars, leveraged the technology and the name from its successful bicycle business, Columbia, to produce a series of electric cars for public sale. The Columbia brand reached the milestone of 1000 units produced well before Detroit's visionary mass manufacturers, Ransom Olds, and Henry Ford, established their foothold in the industry. However, the advent of Henry Ford’s mass-produced Model T in 1908 marked the beginning of the decline of electric cars. The Model T’s affordability, coupled with the introduction of the electric starter in 1912, which made gasoline cars easier to operate, significantly reduced the market for electric vehicles. The development of a comprehensive road system and the discovery of abundant and cheap crude oil further contributed to the decline, leading to the near disappearance of electric vehicles by 1935.

- Ralph Nader and the Push for Electric Vehicles in the 1960s

In 1965, consumer advocate Ralph Nader testified before a U.S. Senate committee, asserting that electric vehicles were a viable technology. He claimed that General Electric (GE) could produce an electric car capable of traveling 200 miles on a single charge at speeds up to 80 mph. Nader suggested that GE was conspiring with the automotive and oil industries to suppress this technology. In 1967, GE demonstrated its capabilities with the Delta experimental electric car. Although the Delta was aesthetically unappealing, it could reach speeds of 55 mph and had a range of 40 miles, utilizing nickel-iron batteries. That same year, Ford introduced an experimental electric car equipped with even more costly nickel-cadmium batteries, which offered no better performance than the Delta. The consensus among experts at the time was that a breakthrough in battery technology was essential. Such advancements were necessary to improve various aspects of electric vehicles, including cost, recharge cycle time, capacity, durability, range, and performance in extreme temperatures.

The Revival of Electric Vehicles

Interest in electric vehicles resurged in the late 1960s and early 1970s due to rising oil prices and gasoline shortages, culminating in the 1973 Arab Oil Embargo. This period saw legislative support, such as the Electric and Hybrid Vehicle Research, Development, and Demonstration Act of 1976, which aimed to reduce dependency on foreign oil and promote alternative fuel vehicles. Despite these efforts, electric vehicles of the 1970s were hampered by limited performance and range. However, the 1990s brought renewed interest driven by federal and state regulations, such as the 1990 Clean Air Act Amendment and the 1992 Energy Policy Act, which fostered advancements in electric vehicle technology.

The early 21st century marked a significant turning point for electric vehicles. The introduction of the Toyota Prius in 1997, the world’s first mass-produced hybrid electric vehicle, and the emergence of Tesla Motors in 2006, which produced a luxury electric sports car with an impressive range, significantly altered the landscape. The release of the Chevy Volt and the Nissan LEAF in 2010 further demonstrated the potential of electric vehicles. Concurrently, investments in charging infrastructure and advancements in battery technology, supported by the Department of Energy, facilitated the broader adoption of electric vehicles.

The Future of Electric Vehicles

Electric vehicles hold significant potential for a sustainable future. If the current light-duty vehicle fleet in the United States were converted to hybrids or plug-in electric vehicles, there could be a 30-60% reduction in dependence on foreign oil and up to a 20% reduction in transportation sector carbon emissions. The EV Everywhere Grand Challenge, launched in 2012, aims to make plug-in electric vehicles as affordable as gasoline-powered vehicles by 2022. Innovations in battery technology and game-changing research supported by the Department of Energy’s Advanced Research Projects Agency-Energy (ARPA-E) are expected to further drive the evolution of electric vehicles. The trajectory of electric vehicles is difficult to predict, but their potential to contribute to a sustainable future is undeniable. The combined efforts of scientists, engineers, and policymakers will determine the extent to which electric vehicles can transform the transportation sector.

Iea.org says: [content recreated]

The total fleet of electric vehicles (EVs), excluding two and three-wheelers, is projected to expand significantly, growing from nearly 30 million in 2022 to approximately 240 million by 2030. This represents an average annual growth rate of around 30%, according to the Stated Policies Scenario (STEPS). Under this scenario, EVs will comprise over 10% of the global road vehicle fleet by 2030. Sales Projections: Total EV sales are expected to surpass 20 million units by 2025 and exceed 40 million units by 2030. These figures indicate that EVs will account for over 20% of all vehicle sales in 2025 and more than 30% in 2030.

As per https://www.iea.org/: [content recreated]

Record-breaking Electric Car Sales Seen in 2022:

Despite facing significant challenges such as supply chain disruptions, macroeconomic and geopolitical uncertainties, and high commodity and energy prices, electric car sales reached new heights in 2022. This growth occurred even as the global car market contracted, with total car sales in 2022 decreasing by 3% compared to 2021. Electric vehicle (EV) sales, encompassing both battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs), surpassed 10 million units last year, marking a 55% increase from 2021. This figure of 10 million EV sales worldwide not only exceeds the total number of cars sold across the entire European Union (approximately 9.5 million vehicles) but also accounts for nearly half of all cars sold in China in 2022. The rapid increase in EV sales is evident when comparing recent years. From 2017 to 2022, EV sales skyrocketed from around 1 million to over 10 million units. In contrast, it took five years, from 2012 to 2017, for EV sales to grow from 100,000 to 1 million. This highlights the exponential growth in EV sales. Moreover, the market share of electric cars in total car sales increased significantly, rising from 9% in 2021 to 14% in 2022. This is more than ten times their market share in 2017, demonstrating the accelerating adoption of electric vehicles globally.

Published by Statista Research Department,

Jun 14, 2024: [content recreated]

Tesla Dominates as the World's Most Valuable Car Brand in 2024: In 2024, Tesla was ranked as the world's most valuable car brand, boasting a brand value of approximately 71.9 billion U.S. dollars. This marks a significant shift from 2020 when Toyota held the top position. As of 2024, Toyota has been relegated to the runner-up spot, followed by BMW. Tesla has been progressively climbing the ranks of the world's most valuable car brands, achieving the number one position in 2021. Founded in 2003 as Tesla Motors, Tesla, Inc. is a North American electric vehicle and clean energy company based in Palo Alto, California. In the 2023 fiscal year, Tesla reported nearly 96.8 billion U.S. dollars in revenue, with the Tesla Model Y emerging as the best-selling plug-in electric vehicle model globally. Toyota, now the runner-up, is a division of the Toyota Motor Company, established in the late 1930s. As one of the largest entities in the global automotive industry, Toyota is active in multiple segments, including SUVs, crossovers, trucks, and motorcycles. Other prominent brands such as BMW and Mercedes-Benz feature among the most valuable car brands worldwide. The Mercedes-Benz Group, based in Germany, specializes in luxury and crossover vehicles and separated from Daimler Truck in 2021.

G.M. Transitioning Away from Internal Combustion Engines

[only Zero-Emission Vehicles by 2035?] General Motors (G.M.) announced on Thursday its ambitious plan to phase out petroleum-powered cars and trucks, committing to sell only vehicles with zero tailpipe emissions by 2035. This initiative is part of the company's broader strategy to achieve carbon neutrality by 2040. This decision marks a significant shift for one of the world's largest automakers, which currently generates substantial revenue from gas-powered pickup trucks and SUVs. The move underscores the declining era of the internal combustion engine and signals a pivotal change in the auto industry. G.M.'s announcement is expected to pressure other automakers globally to make similar commitments. It also can potentially encourage President Biden and other policymakers to adopt more aggressive measures in combating climate change. G.M.'s commitment could be cited as evidence that even major corporations recognize the necessity of transitioning away from fossil fuels, which have been the backbone of the global economy for over a century. This transition will likely disrupt the auto industry, which employed approximately one million people in the United States in 2019, spanning car and parts manufacturing. The shift will also have significant repercussions for the oil and gas sector, whose success has been historically linked to the prevalence of internal combustion engines.

Thank You to:

• https://en.wikipedia.org/wiki/Electric_car
• https://blog.evbox.com/electric-cars-history
• https://www.energy.gov/timeline-history-electric-car
• https://en.wikipedia.org/wiki/History_of_the_electric_vehicle
• https://www.caranddriver.com/features/g43480930/history-of-electric-cars/