When it comes to the automotive industry, the American investment bank JPMorgan Chase & Co. is clear about what is happening: “The Future Is Electric.”
The bank suggests, “The road to a fully electric future was paved in 2020 with potential new partnerships between automakers and Electric Vehicle (EV) start-ups, advancements in battery range, and heightened government efforts to reduce CO2 emissions.”
Electric cars, also called electric vehicles (EVs), are no longer just an outlandish concept that interests a few fanatics. Manufacturers and consumers are now starting to take them seriously.
But what kind of an automobile qualifies to be called an EV? What are the advantages and disadvantages of electric cars? Have EVs transformed the automobile industry? And if so, how? Are electric cars green? What is the future of electric cars in a world accustomed to combustion engines?
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