Although almost all the major car manufacturers have at least one electric vehicle in their lineup, most of their CEOs are not fully convinced that electric cars are the future of the industry. Their board of directors and marketing people have observed how problematic the EV segment is, so they hesitate to go all-in on electric cars.
Also, there is still a lot of money to be made on internal combustion engines and a lot more development to do, so none of the big-name players is going fully electric anytime soon.
4. Practically Unusable in Third World Countries and Markets
The EV craze is limited to just a few first world countries and markets in the world. But other than that, electric vehicles in other areas are nonexistent. Even China, the world’s biggest market, has a hard time implementing any initiatives for electric cars.
If you go to remote parts of the world or any of the developing countries, you’ll notice that fossil fuels are still the primary source of energy, and that’s not likely to change soon.
Although Tesla has sold over 300,000 cars all over the world, with other manufacturers posting considerable production numbers, most car buyers still consider EVs to be some sort of a sales trick. Their specific operation procedures, limited usability, and different driving dynamics make them cars for tech geeks, but not as regular transport devices.
Car consumers are still waiting for mass-produced electric vehicles that will fully replace gasoline-powered models. But to do that, they’ll need to introduce some improvements that will draw buyers to EVs.
Clearly, there are many limits to electric vehicles in general. Even if you own one or are looking to acquire an EV, you should know that it can’t fulfill all your transportation needs. That’s especially true if you have a family and need a dependable vehicle for your family.
You could use your electric vehicle in the city for your everyday commute. However, if you want to go on a road trip with your family, you will need an internal-combustion vehicle due to range concerns and personal peace of mind.
Most drivers lease their electric cars and then return them to the dealer after a few years to get a new model. However, those people who have bought electric vehicles could experience great difficulty selling them on the used car market or trading them in at the dealership. That is because electric cars depreciate much faster than gas-powered vehicles since the technology is so new and still evolving.
People looking for deals on the used-car market are still extremely cautious when it comes to electric cars. They don’t know how the used electric vehicles act or how to maintain them properly. Many also don’t know what the common problems are, for example. Hopefully, EVs will continue to evolve and improve, making them easier to drive long distances, less expensive to repair, and more dependable.