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Global Electrification for All Vehicles No Longer a Thing of the Future The global electrification of automobiles, trucks, buses, marine vessels, and in fact all vehicles, is no longer seen as a futuristic idea.
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e are currently in the midst of one of the biggest global industrial and technological revolutions in history. Global mandates and regulation have solidified and further enabled carbon neutral goals. Electric vehicle (“EV”) sales have skyrocketed, charging infrastructure initiatives have been ramped up (and will accelerate greatly in coming years), and industry leaders have doubled down on their respective focus on improved battery technology. What was once thought of as a debatable endeavor has now caused mass acceptance and excitement in the marketplace.
The auto industry began its ascent towards electrification quite some time before the marine industry. Some of the auto industry’s biggest and most prestigious names have already planned to go completely electric within the next 5 or 10 years. JLR (Jaguar Land Rover) plans to sell only electric cars by 2025; Volvo plans to achieve that same goal by 2030; General Motors plans to go fully electric by 2035. Well-respected high-performance auto manufacturers Lotus and McLaren will no longer sell ICE powered sports cars by 2028. Volkswagen, 2021’s leading seller of EVs in Europe (with approximately 25% of the market), aims to have EVs account for at least half of its global production by 2030. Even luxury brands such as Lamborghini, Bentley, Porsche, and Ferrari, now have an expanding footprint in the electric sector. And of course, there’s Tesla. Additionally, major ground shipment logistics companies such as UPS, Amazon, and FedEx, have supported a
62 MicroCap Review Magazine
E-MOTION™ 180E is the WORLD’S FIRST PERFORMANCE ELECTRIC PROPULSION ENGINE UNPARALLELED POWER & TORQUE •• EFFICIENT – MASSIVE FUEL SAVINGS •• PROPRIETARY UNION ASSEMBLY •• LOW MAINTENANCE COST •• RAPID, INEXPENSIVE CHARGING •• RANGE more cost effective and conscientious green future. In 2021, electric automobiles, including hybrid electric vehicles and plug-in-hybrid vehicles, made up 9.7% of US auto sales. This is nearly double 2020’s 5.4% number. Auto sales in general rose only 3.4% from 2020 to 2021. However, total sales growth for electric vehicles skyrocketed 85.9% year over year. In the first quarter of 2022, EV sales have soared, even with the overall industry reporting a
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