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Why 2021 Has Irreversibly Defined the Future of Electric Vehicles This seems to be the year in which major manufacturers are committing to an all-electric path.

By Roberto Liccardo

Opinions expressed by Entrepreneur contributors are their own.

There is no getting over the fact we need to seriously consider the way we, the human race, have been damaging the planet. Much of that damage has been done by way of pollution. Fossil fuels that produce harmful greenhouse gases have caused irreparable harm. Used for a century and more in all types of vehicles, petrol and diesel – along with coal and oil – have been responsible for this rampant devastation to our environment

But in recent years there has been a concerted effort to move away from fossil fuels towards alternative energy sources. Wind and solar power are widely used in many countries for the generation of electricity. When it comes to vehicles, however, the need to rely on battery power has been a limiting factor since the dawn of the automobile.

Electric cars and electric motorcycles are not new. Indeed, in the early days of powered road transport, the electric motor was seen as a more viable option than the internal combustion engine. A lack of battery development and cheap oil soon overcame this, and we've stood still in many ways for 100 years. This, however, may just be the year in which the electric vehicle stamps its authority on the roads. Let's look at why.

Related: Ford Is Progressing In EVs, But Will It Be Successful?

The world goes electric

The electric car has been a feature on the roads for many years now. Most of the major manufacturers have hybrid or all-electric models in their range. Toyota led the way when it came to hybrid vehicles and set the ball rolling for others to follow. In the luxury market, Tesla has been influential in inspiring other manufacturers to include electric motors in their cars, with supercar makers such as McLaren and even Ferrari now offering spectacularly powerful hybrid models.

However, for the mainstream everyday driver wanting a family car or one for the daily commute, the electric option has remained an expensive one. Furthermore, the problem with infrastructure in most countries still exists. Limited range also puts people off the full electric vehicle, and while gas stations are everywhere, charging points are sometimes hard to find.

All of this may just be about to change, and 2021 seems to be the year in which the major manufacturers are choosing to commit to an all-electric future. Jaguar-Land Rover – based in the UK and owned by the Indian giant Tata – already has the popular I-PACE within its range of luxury vehicles and has announced that starting as soon as 2025 it will manufacture only all-electric vehicles. This is a bold move from the iconic brand, but it's hardly a high-volume manufacturer.

Such a statement is certain to speed up the move from ICE to electric among other major brands, and some are already pushing things forward.

The future of electric vehicles

The backlash against electric vehicles came largely from traditionalists who are often averse to change. The fact is we now value our planet more than we once did thanks in no small part to science teaching us where we have been going wrong.

With pioneering development in battery technology ongoing and innovation from the leading motor manufacturers leading to better range and efficiency, it's safe to say that new vehicles from all major motor manufacturers will be all-electric by 2040, and as we have seen above the luxury sector will likely go down that route sooner rather than later.

Related: 4 Worst Performing Electric Vehicle Stocks in May

Two-wheel electric-vehicle boom

The electric motorcycle needs to be considered in the move towards electric vehicles. The pandemic has had a direct effect on accelerating the move towards electric power in the two-wheeled world.

It is worth bearing in mind that worldwide, some one billion people use electric motorcycles as transport. This has been a popular method of getting around especially in India and other Asian countries. The uptake of electric motorcycles as a cheap and convenient method of travel was noticed in the Western world during 2020, as the pandemic exerted an influence on transport and movement behavior.

Notable brands such as Harley-Davidson have entered the market, the model in question being the Livewire, and newcomers to the market Damon Motors – a Canadian company – have made great strides in the high-performance electric motorcycle market. Iconic scooter maker Vespa has also entered the electric market, a sign that – as with the four-wheel vehicle world – two-wheeled electric vehicles are becoming the mainstream.

With motorcycles being the preferred form of transport in the heavily populated Asian countries there is no doubt that this a market that will benefit strongly from improvements and development of electric motorcycle technology.

Roberto Liccardo

CEO of Best Stocks

I have 15 years of direct and managerial experience in intensive digital marketing, analytics and finance. Currently, I'm working as CEO for Best Stocks.

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