Electric vehicles herald an economic revolution

That the prices of conventional automobiles will plummet once the electric vehicle (EV) stops being an exception and becomes the norm – which now appears quite likely, and sooner than most people think – will likely be our least concern. The advent of the EV is apt to upend both the world economy and the diplomatic landscape. Of course we will still need oil to produce electricity, but what’s in store when the EV replace the gas-guzzler will be economically staggering all the same.

Some of the biggest auto manufacturers – Nissan, Ford and Mitsubishi – will be rolling out EV cars in the months ahead and others are building smaller models, designed for short-distance drives. Highway charging stations are popping up everywhere now, even if the charging process continues raising concerns about the environment.

All the signs indicate that the EV trend is about to reach the tipping point. The Thai market has also been already swept up in the shift to electrical, though the price of the vehicles will remain out of most people’s reach for a while yet. Those prices, though, are bound to come down, just like the cost of smartphones, and their battery life will lengthen too.

Environmentalists have long hailed the EV as a boon to their efforts, in a league with solar power. The two technologies are quite separate at the moment, but they stand a good chance of getting closer and might even be blended. The push for more widespread use of solar energy has gained new momentum following the success of the sun-driven Solar Impluse 2, which only a few weeks ago became the first aircraft using only clean, renewable energy to fly across the Atlantic Ocean.

It is certain that greater use of electric vehicles and solar energy will reduce the world’s dependence on oil. The environment will benefit, and so will poorer nations. Take Laos, for example. That country’s electricity-generating capacity can truly become an economy booster.

Less dependence on oil will greatly enhance the chances of genuine democracy taken hold around the globe. 

The current restraint is that international politics and ideological diplomacy are dictated very much by which nations have the oil and who has access to it. The term “equality” becomes very much political as long as energy sources remain expensive and can be exploited by the privileged few. Cheaper and more accessible energy will drastically upgrade the quality of life for poorer people, and once their lives are better, politics will never be the same. 

We hope electric vehicles will do what smartphones did. At first only the well to do could afford the phones, but the industry soon enough began producing cheaper and just as efficient products. 

At first the phone batteries were short-lived and recharging was a headache. Now the batteries last longer and charging them is a matter of convenience. Economic and political cynics insist that Big Money – the people who control the world’s wealth – will not let electric cars or solar energy succeed. They will stymie research and development in order to preserve their status quo. However, EV and solar-power advocates have history on their side. The most practical means of transport have always prevailed and no one could stand in their way. The new technologies’ strong suits are environmental husbandry and attractive pricing, and the status quo will be left with no choice but adjust and adapt.