Governor Wolf is attempting to “clean up” Pennsylvania’s emissions. His new Executive Order will require 25% of government vehicles to be replaced by electric vehicle by 2025. The big push for this change is mostly financially motivated, as it is projected to gain the state just under 3 billion dollars in subsidies due to a reduction in vehicular and greenhouse gas emissions. Major cities such as Pittsburgh and Philadelphia are doing their best to stay ahead of the curve. Other benefits include lower greenhouse gas emissions and a speculation that respiratory disease might be reduced.
With all the recent buzz around the electric vehicle industry, there have been general statements by the public that seem to think the oil industry will begin to fall. Each year more and more Electric Vehicles are produced and sold. Every year, those numbers seem to rapidly increase, almost doubling in popularity!
Auto makers have begun to produce Electronic vehicles or EV’s at a rapid pace in order to comply with Corporate Average Fuel Economy or CAFE standards. As of yesterday, another auto manufacturer has announced its 2019 entrant into the competitive EV landscape. Audi announced the global launch of their new electric sport utility vehicle, named the e-tron midsized SUV. Surprisingly enough the announcement was made in San Francisco which is the home of Tesla. It can be inferred that the “launch site” choice is a direct shot at Elon Musk’s Tesla operation and the current leader in the EV market. According to Reuters, “The Audi e-tron midsize SUV will be offered in the United States next year at a starting price of $75,795 before a $7,500 tax credit.” To further increase their chances of surpassing Tesla, Audi has chosen to partner with Amazon to tackle the recharging problems with EV’s.
Last year, over one million electric cars were sold around the world. There were approximately 760,000 on American roads in addition to approximately 820,000 in Europe with China leading the pack at 1.23 million. With an increasing growth of 53% since 2017, China is expected to reach 2 million by 2020 and a complete ban of internal-combustion engines by 2040.