When it comes to transportation, there is little doubt that the future is electric. From leading car manufacturers transitioning to completely electric fleets to the recently unveiled Clean Transit for America plan that provides $73 billion for zero-emission bus deployment, there’s good reason to believe that the days of gas-powered combustion engines are numbered.
And yet, the shift to electric vehicles is only just starting to accelerate. In fact, at present, electric vehicles comprise less than 1 percent of the 250 million cars, SUVs, vans, and pickup trucks on the road today. Not surprisingly, the US is at least 15 years away from EVs making up one-quarter of auto sales, a far cry from the fleet turnover necessary to meet the U.S. government’s current timeline of net-zero emissions by 2050.
