EVs Have Definitely Not Peaked — Here’s Why!
There’s a lot of negativity spreading around the internet and media about EVs right now. If you believe everything you hear, EV sales are in the toilet, automakers are ready to abandon them, and the grid is on the brink of collapse. But if the growth in companies like Xcelerate Auto is any indication, the reality is much different. Despite all the noise, EV sales are actually higher than ever before.
The reality is that EV sales recently experienced a period of slower growth compared to early sky-high predictions. But lower growth rates aren’t the same as declining sales. The simple fact is that EVs have not peaked.
And all the other rumors circulating online? They’re equally false. The grid is not on the brink of collapse. Oil jobs have always been subject to boom and bust cycles, while renewable energy jobs consistently grow faster than fossil fuel jobs are lost. Being a leader in EVs, rather than a follower, also strengthens America’s global position, especially when it comes to reducing dependence on countries like China.
Amidst this landscape, companies like Xcelerate Auto continue to thrive by focusing on the needs of EV owners, illustrating that confidence in the future of electric vehicles isn’t just alive — it’s growing. Now that we’ve debunked the noise, let’s get to the heart of the matter: the “why.”
Why EV Sales Are Still Growing
To be perfectly fair, there are some downsides to EVs, but they are all heavily exaggerated.
For example, charging time is a lot longer than fueling, and it can take over 8 hours to charge an EV! But what they aren’t telling you is that most of that charging happens at home when you are asleep. Basically, you get home, you plug the car in, and then you find it full in the morning, unplug it, and go. No trips to the gas station for local driving! On road trips, you’ll need to charge away from home, but it doesn’t take 8+ hours. Most EVs charge up enough to get to the next charger now in only 15–45 minutes.
While the disadvantages are overrated, the advantages are pretty close to what EV enthusiasts hype them to be.
For one, the cost of operation really is lower for a comparable vehicle. The initial cost of purchase is a little higher, and prices for EVs continue to fall as battery prices fall. But, this minor increase in upfront price is more than offset by the far lower cost of charging compared to buying gasoline or diesel. Other things, like fewer maintenance costs (no oil changes!), tax credits and incentives, and time saved all add up to some real savings.
Performance is also great compared to many ICE vehicles. While EV horsepower numbers might not sound impressive on paper, the torque numbers usually get closer to telling the story. Add to that that the torque is pretty much instant from zero miles per hour, and electric vehicles are faster than they look on paper. As technology improves, handling is getting better, but it was always pretty good due to an EV’s low center of gravity. Towing is also fantastic, even if range is affected. Again, torque!
Another big benefit to EVs is convenience. Unlike an ICE vehicle, you can usually open an app or press a key on your key fob to always get into a vehicle that’s comfortable inside. In summer, it can automatically cool itself down. In winter, it can heat the cabin up, and all without burning a bunch of fuel or risking exhaust poisoning. Other things, like not having to stop at gas stations on the way to work and being able to use some EVs for emergency, job site, and campsite power make them an even bigger plus.
And, all this is before we consider the environmental benefits (yes, those are very real). Because EVs don’t waste three quarters of their energy making waste heat, they’re cleaner than ICE vehicles over a lifetime and on every drive, even when the electricity is generated by fossil fuels. The cold, hard fact is that the power plant has a better engine than a Toyota does.
The Change Can’t Be Stopped, Only Slowed Down At Our Peril
Because of all these benefits, EVs will continue to take over. This is happening more slowly in the United States, but the rest of the world continues taking off faster.
The idea that the United States can stick to ICE vehicles while the rest of the world can move on to EVs is delusional. To maximize economies of scale, automakers have to sell as many things in multiple markets as they can. If they’re forced by government or market manipulation into continuing ICE, it’s a situation that can make the United States manufacturing base weak while others become stronger.
Instead of falling further behind, it’s best to be ahead of these kinds of situations, not behind them reacting to others who now have more agency and power. This is true not only at the governmental level, but also at the company and personal level.
Looking To Join The rEVolution? Xcelerate Can Help!
Not only are EVs not going away, but the advantages are hard to ignore. Cost savings, both for fuel and maintenance, ease of use, and even things like job site and emergency power can all help take your business to the next level.
You don’t have to navigate this process on your own. Not only are there many online resources for learning about EVs yourself, but there are now many, many people who can share their experiences to help get you started.
Among them are the people at Xcelerate Auto. Instead of having to climb the learning curve, Xcelerate’s clients have their needs not only covered, but anticipated from beginning to end. This starts from choosing vehicles, leasing them as needed, upfitting, and then managing and maintaining the fleet as it grows and changes. So, if you’re considering getting into EVs for your business fleet, be sure to give them a call to get the process rolling faster.
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