Electric Vehicles Forecast

Tony Seba believes electric vehicles (EVs) will disrupt and change transportation across the world in the very near future. Mr. Seba teaches disruption and clean energy at Stanford University’s Continuing Studies Program. He is also a renowned entrepreneur in Silicon Valley.

According to Mr. Seba, a disruption is when technologies converge and create a new market and helps to destroy or transform an existing industry. As an example, digital cameras disrupted the photographic film industry and Uber transformed the ride-hailing market.

EVs are already disrupting the automobile market. Batteries in EVs are already dropping in cost by 20% per year. The global automobile industry and companies like Google, Amazon and Dyson are investing billions to accelerate improvements in EVs. A gasoline combustion engine has 2,000 moving parts, while an EV has only 18 moving parts. Competition and innovation will continue to drive down the purchase and operating price for EVs. Mr. Seba predicts that in 2025 more new EVs will be purchased in the world, then gasoline or diesel fueled vehicles.

In my opinion, EVs will become a major disrupter to the utility industry. Moving from gasoline or diesel automobiles to EVs will shift the fuel demand from the refineries to the utilities. Are the utilities in your region prepared for the growth in electricity demand from EVs?

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