By 2035, the United States and Canada are projected to have upwards of 85 million electric vehicles on the road according to Ernst and Young Global Limited. In an effort to become carbon neutral, many major car companies have invested in electric vehicles by producing or promising electric and hybrid vehicles. BMW, Ford, Toyota, Nissan, as well as many other well known companies have already begun production of electric vehicles, and with over 140,000 chargers across the nation, it has never been easier to drive an electric vehicle. Despite this, the expansion of electric vehicles has not been up to par when compared to countries in Europe, meaning that there is both a large opportunity for eager investors and enterprising companies.
The natural resources required to build these cars pose a large investment opportunity for those believers in the future expansion of electric cars. Resources used to produce electric cars are not evenly divided between countries, meaning certain regions have control over large percentages of these required minerals. Firms, many of them based here in the US, search for and unearth minerals such as Copper, Manganese, Cobalt, and Lithium in hopes of capitalizing on this market. With a few of these firms giving out generous dividends and rooted in the world’s future, they may prove to be a solid investment for individuals looking to get in on this opportunity.
Electric vehicles may be an investment opportunity, yet there are still many hurdles. A global index created by Ernst and Young Global Limited suggests that America is falling behind in the electric race as consumer wariness remains high. Of the 13,000 participants in the index, a minute 30% of US car buyers expect to produce a fully-electric, hybrid, or plug-in car. While this number may not be exactly representative of the state of America, it still expresses the less-than desirable feelings consumers are experiencing, and how we still have a great ways to go before our country completely accepts electric vehicles.
Kilian Schlager, a BHS sophomore, has a family electric vehicle. Kilian said that “the Rivian R1T is by far one of the best electric vehicles available on the market. There isn’t a single feature that hasn’t been meticulously thought out and perfected.” With reviews like these, it is a wonder that electric vehicles haven’t already dominated the car market in the US as not only are these cars cutting greenhouse gas emissions, they are raved about by their owners. Hopefully, as these electric vehicles take hold in our country and people like Kilian continue to spread word, we may finally see the change our world needs in the car markets.