Electron transport, or electric vehicles, are a bright future for the US electric grid, which relies on a complex interconnecting system of wires, transformers and distribution lines to move power to homes, businesses and other vehicles.
But with the advent of the ubiquitous Tesla electric car, and the widespread use of electric bikes in cities, electric vehicles are becoming less viable as the grid gets larger.
“As we’ve seen with the emergence of electric cars and other disruptive technologies, there’s going to be a lot more of that in the coming years,” said Chris Dube, president of the Electric Vehicle Association, which represents automakers, dealers and suppliers of electric vehicles.
Electric vehicles and battery-electric vehicles, or BEVs, have the potential to change the grid and create jobs and economies, Dube said.
Electric vehicle companies have invested millions of dollars in the industry, and Dube predicts that as more automakers and suppliers join the grid, electric vehicle sales will grow from a little more than $1.3 billion in 2016 to $5.6 billion in 2021.
“Electric vehicles will be part of the solution to energy problems and climate change,” he said.
Dube predicted that the electric vehicle market will surpass diesel-powered cars as the second-largest source of transportation demand in the US, and he expects that the market will be $1 trillion by 2025.
Tesla’s cars, which go from 0-60 mph in less than five seconds, are capable of travelling from zero to 60 miles per hour in about 2.5 seconds.
But electric vehicle companies like General Motors Co., Nissan Motor Co., BMW AG and Volkswagen AG have invested billions of dollars into batteries and the transmission and distribution systems for their vehicles.
Tesla has been building its own battery factory in Nevada and has begun offering its vehicles to dealers, which have been slow to adopt the technology.
Tesla and others say they need to sell their cars in the millions before they can achieve a mass market.
Tesla CEO Elon Musk said on Thursday that he is investing $1 billion to expand production at its factory in Fremont, California.
The company is working to ramp up production to reach its goal of 1 million vehicles by the end of 2021.
Tesla will also start building its first fully autonomous car at its Fremont plant.
“There’s an opportunity for the future of transportation to become electric in a big way,” said Greg Mays, a transportation policy expert at the Brookings Institution.
Electric cars have been the subject of criticism for being expensive and complicated to drive.
Some electric vehicle owners have complained about having to install battery chargers, while others have complained that they can’t afford to pay for charging equipment and say they’ll never get used to driving on electric roads.
But the electric car industry is poised to reap billions of new dollars.
Electric car maker Tesla said it plans to sell 500,000 Model S vehicles this year, and it has about 2 million miles of battery range left in its vehicles.
It said it expects to sell more than 200,000 vehicles by 2020, and is aiming for 1.5 million vehicles annually.
Tesla plans to produce and sell all of its vehicles in the United States.
Tesla is a subsidiary of General Motors Company, which owns and operates Tesla, Inc. The automaker has also been aggressively promoting electric vehicles on television and online.
Earlier this month, it announced that it would begin offering its Model X SUV in the U.S. in 2021, a step it said was “in line with our long-term goal of providing a global marketplace for electric vehicles.”
Tesla also said it would expand its Model S and Model X electric cars in other markets, including Mexico and China.
The Tesla electric vehicle network will expand over time, and will have many more electrified vehicles on the road by 2021, Tesla said.
The electric vehicle industry’s rapid growth is due in part to the introduction of new technologies and the adoption of battery technology, said Dan Coyle, chief executive officer of The Battery Company, a Detroit-based electric vehicle manufacturing company.
Electric motors, batteries and electric vehicles have a long history, and electric cars are no exception, he said, noting that electric cars have long been a mainstay in the automotive industry.
Electric automobiles can be powered by a battery or battery-to-electric vehicle converter, or BTO, as the technology is known, which converts a battery into an electric motor.
The BTO is a technology that’s been in use since the late 1960s.
But it’s still relatively new, Coyle said.
Tesla said its BTO system will help the company achieve the battery range and capacity that it needs to make its electric cars viable.
The system is expected to be in service for about a decade, with a new battery for each Model S, he added.
The battery is supposed to be 100 percent electric, but Tesla has not yet disclosed the battery specifications.
Tesla also has invested heavily in research and development, including