“Greening” Our Commutes
Is the revolution here? The cover of the October 2021 issue of National Geographic says it is. I agree, though we’re not talking about the same revolution. And what if that difference can make all the difference?
The magazine cover refers to two feature articles on “electric cars, hydrogen-powered planes, and the dream of a cleaner commute.” (emphasis added) Both articles are compelling, and worth reading, but I want to focus on the first: “The Big Bet on Clean Cars,” by Craig Welch.
In his article, Welch describes the massive transition underway from conventional petroleum-powered vehicles to all-electric and plug-in hybrid electric vehicles (EVs). That transition is happening unevenly across the world. (The U.S., Europe, and China are leading the charge, so to speak, but there are interesting initiatives in other countries, as well.)
The transition is also unfolding across the entire auto manufacturing industry—from obscure startups developing cars with ranges that will top 500 miles or be powered by the sun, to the big companies with sprawling car lots on the outskirts of your town. Ford, for example, is investing $30 billion in EVs between now and 2025. General Motors is investing $35 billion through 2025, including $2 billion to redesign a Tennessee factory so it can manufacture an electric Cadillac, and another $2.3 billion on a battery plant. And Volkswagen announced last November that it plans to invest $86 billion in the development of EVs and other new technologies over the next five years.
Manufacturers aren’t the only ones betting big on electric vehicles. The current administration believes the future is electric (boogie woogie woogie), and President Biden’s original infrastructure plan included $174 billion to encourage the sale and manufacture of EVs. Wall Street is bullish on EVs, too…
…click on the above link to read the rest of the article…
