In this article, industry experts, including Gregory Beischer, CEO of Alaska Energy Metals, discuss the increasing popularity of electric vehicles, especially among younger generations. They explain what is behind the surge in interest among specific subsets of the population, such as Generation Z and Millenials.
These include its positive climate impact, lower operating costs and incentives. Gregory Beischer explains as demand and adoption reach a certain point, price will level out.
Finally, the piece concludes with an explanation of the future of gas-powered vehicles and changes in the automotive industry.
“As with the advent of flat-screen TVs, at first, they were expensive whilst attractive and desirable, but then, once demand and adoption reached a certain point, mass production and competition allowed prices to drop, making them ubiquitous. This scenario is expected to play out for EVs. Within a decade, a very large percentage of vehicles will be electric and likely more affordable than they are today.”
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