California governor Gavin Newsom has announced all gas-powered cars in dealerships will be replaced with electric cars in. Last September Gavin Newsom signed an executive order directing the state to end new gas car sales by the end of 2035.
Electric vehicles (EV) are soon going to take over the car industry. Will oil and gas companies be forced to change their business models or shut down completely? Many businesses have already been thinking about changing their approach. It’s expected by the end of 2025 for companies to be investing 25 percent of their capital in power generation.
Electric cars are proven to be healthier for the environment. They do not use oils or gas and thus they do not release toxic chemicals into the atmosphere. And considering how expensive gas is, electric cars are way cheaper overall.
Gavin also says by 2035-2040 worldwide most cars will run on electricity.
As of now these gas vehicles are more convenient and cheaper, but the effects are much worse. Companies are all slowly making electric cars or even models. Mercedes Benz, Kia — even Ford is coming out with an electric truck. As more luxury brands come out with these expensive vehicles, people will start to buy into the new electric concept even more.
U.S. oil transportation could drop to 7 million barrels per day in 2050. Plenty of fossil fuel companies are ready to invest in electric products such as renewable energy sources.
This is a substantial change for the car community. Electric vehicles have significant differences from gas-powered cars. They are not as loud and there is nothing really to mod. Both of those aspects challenge traditional car culture. But they are ecofriendly and much cheaper in the long run.
The electric vehicle revolution is not likely to stop.
IMAGE CREDIT: MOTORTREND