Every industry needs a messiah to make it to the big leagues. Just like Oculus pushed Virtual Reality into the forefront, Electric Car market has found its powerhouse with Elon Musk and Tesla. Fifteen years ago, electric cars were a distant dream.
But in 2007, Tesla did something no one imagined. They sold 100 gorgeous looking electric sports car called ‘Roadster’ in under three weeks, proving Electric can be fun too. Things have never been the same ever since.
In the last 10 years, every big car manufacturer is racing against time to bring out the first affordable passenger electric car. GM, Honda, BMW, Mercedes, and even Renault are working hard to make electric hit the road. But Tesla stands apart from everyone else in the market and despite short history, they can give the bigger manufacturers a run for their money.
Around the world, the sale of electric cars is up about 40-90% annually. Many national governments are providing subsidies to reduce the total cost of ownership of this new category of motor vehicles.
China currently leads the world in the number of electric cars on the road. But almost 95% of all their cars are made locally. In 2018, sales of electric cars in America grew by 84% when compared with the previous year. As the number of electric cars increases on the road, the charging grid network will also improve. Tesla maintains a big share in the US EV charging stations and now they are allowing any electric car to charge on their grid for a fee.
As more manufacturers and independent groups continue to expand the reach of the grid network, the usability of these cars will spread beyond the big cities. In the coming years, electric cars will overtake conventional cars in terms of sales.