So, this is interesting. Many folks know a wealthy person who may own a Tesla, but now, if mainstream American car companies are making electric vehicles in significant numbers, then this electrification trend in auto production seems to be more than a passing fancy.
Consider this- according to the International Energy Agency (IEA), about three million new electric cars were registered last year, a record which represents a more than 40% increase compared to 2019. Impressive. The record number of electric cars were sold in an automotive market that contracted by about 16% during the same period, due to the pandemic. Very impressive. The IEA goes on to estimate that if governments continue to ramp efforts to meet international energy and climate goals, then the global electric fleet (including two and three wheeled vehicles) could hit 230 million by the end of the decade. Those are eye popping numbers, folks! And let’s not forget that this is all happening as the cost of battery packs is trending downward, and the range of the electric vehicles produced is heading up.
The article below goes into Cadillac’s plans to pivot to an all-electric vehicle lineup by 2030, starting with the all-new 2023 Cadillac Lyriq, which will be released late next year. This is an inflection point, as the Lyriq will represent the start from which there will be no new vehicles with internal combustion engines released in North America by Cadillac. Cadillac will be leading the charge for all of GM to offer only electric vehicles by 2035.
Perhaps the time has come to invest in battery and power technology! Have a read!
~ Brian Kasal- The Leadership Matrix
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