1/3 of vehicles on road in 2050 estimated to be Evs

Hesitation to buy electric car is coming down with the availability of more models and charging stations in many of the developed countries. The fear of "what if my car runs out of the battery" had kept many car buyers away from buying electric cars. With the improvement in range, battery technology, charging technology and availability of charging stations is keeping that fear away. Tesla did great amount of work in making electrical vehicle technology takeoff successfully by braving the initial launch failures. They did a basic remodelling of vehicle design to suit for a battery powered electric motor and keeping most advanced automotive driver assistance systems in mind. Immbg teslaec.jpg With the plenty of new launches all over the world, electric vehicle market is taking on gasoline vehicles. IHS Markit forecasted electric vehicles will make up as many as 8 out of 10 new cars sold in 2050. The factors influencing the increase in sales is due to greater scale in manufacturing, improvement in batteries both in terms of performance and cost. In other related findings IHS Markit reports the cost of a lithium-ion (Li-ion) battery has already fallen 82% from 2012-2020 and by 2023, the cost of a battery will have declined 86% (by $580/kWh) in a decade. IHS Markit expects that the biggest contributor to falling battery cell costs throughout the coming decade wi...