fbpx
Connect with us

Tech + Startups

Is The World Ready To Shift To Fully Electric Cars & Airplanes?

The need for zero-emission vehicles has remained high and unanswered for centuries. Around 1900 there was an electric vehicle using batteries. The major shortcoming was that it was low top speed and a short-range vehicle.

By the 21st Century, the growing campaigns to switch to an eco-friendly energy consumption meant that something had to be done by the motor industry. It was among the highest emitters of Hydrocarbon-fuels and CO2 to the atmosphere – that was not sustainable.

Major motor companies were facing pressure to come up with eco-friendly vehicles. This led to the emergence of Plug-in Hybrid Vehicles or PHEV and Hybrid Electric Vehicles (HEV) with little emissions. The Hybrids start off using electric motor then as speed increases, the gasoline engine turns on.

When discussing the history of Electric Vehicles, July 1, 2003, is a quintessential date to mark – Tesla Motors was founded. Tesla has a long term goal to create an affordable electric vehicle for mass production. No company had tried going fully electric before that.

Since 2004, Tesla has been through thick and thin. They had some venture capital financing to save it from bankruptcy. Additionally, there was a series of mass firing to ease the budget. All these were being done so that the goal of Tesla may be met.

In May 2008, a blog covering automobiles called “The Truth About Cars” launched a “Tesla Death Watch”, as Tesla was in the verge of collapsing if it would not get another financing. On May 2009, Germany’s Daimler AG, maker of Mercedes Benz, acquired an equity stake of less than 10% for about US $50 million. Musk says that the Daimler’s investment saved Tesla.

The 465 Million Loan

In June 2009, Tesla received US $465 million among the US $8 billion Advanced Technology Vehicles Manufacturing Loan Program. It was created to offer a low-interest loan to support the production of greener vehicles.

Tesla used the money, and in a shocking turn of events, it was the first to repay the loan. Despite the then-presidential candidate, Mitt Romney, calling it a ‘loser’ and likening it with the now-bankrupt company Solyndra.

Among the four beneficiaries, Tesla performed exemplary in terms of beating all its milestones and even repaying the loan 5 years earlier than expected. Nissan repaid their loan fully, and Ford is expected to repay in 2022. Fisker, the last beneficiary of the loan, went bankrupt and defaulted the loan.

Tesla has since then achieved its milestones, including the production of Tesla Model 3 selling over 500,000 units. In November 2018, Tesla vehicles had outsold Mercedes-Benz in the US market. The company also announced its initial public offering on NASDAQ. More than 13 million shares of common stock were issued to the public at US$17.00 per share. It was the second car maker to go public after Ford.

In June 2020, Tesla Inc’s stock jumped to $1000 a share after Elon Musk announced that it was time to bring Tesla Semi commercial truck to volume production.

Elon Musk talked about the production of Semi trucks almost coinciding with his rival, Nikola – an electric and fuel cell truck startup. Nikola has faced some allegations via a report on Bloomberg terming its debut electric semi-truck as ‘inoperable, missing parts.’

Nonetheless, Tesla has sparked and proven that the fully EV mass production is achievable. Existing motor companies are venturing in an electric way because it remains the future of energy.

Tesla Led, Others Followed

Below is a quick list of other electric vehicles produced in the recent past.

  • Nissan Leaf
  • Hyundai Ioniq Electric
  • Renault Zoe
  • BMW i3
  • Audi e-tron
  • Hyundai Kona Electric
  • Jaguar I-Pace
  • Chevy Bolt EV
  • Kia Niro EV
  • Hyundai Kona EV

The Future of Electric Planes

The next industry to be disrupted by going fully electric will be the aerospace. On a survey done, it was seen that the United States is responsible for nearly a half of the world’s CO2 emissions from aircraft. This calls for immediate actions and results.

The future of more quiet, cheaper, and eco-friendly airplane is almost here with us. From now, you can hardly tell what to expect. Just like the motor industry, something will come up in the aerospace industry.

What we are left with is patience as we observe the already disrupted motor industry changing its norm from gasoline to EVs.

Are you ready to for change?

Stanley Gatero is a writer at Disrupt Magazine. He covers topics concerning technology, entrepreneurship, news, and sports. He is an avid traveler.

Join Disrupt Magazine

Become A Disrupt Contributor

Most Disruptive

Business4 weeks ago

John Mcafee – Predictions For The Future

John McAfee is a world-famous tech CEO, computer scientist, civil disobedience activist, privacy advocate, and pioneer of the commercial anti-virus...

Finance3 months ago

Gaby Wall Street – Teaching Latinas to Thrive During The Crisis

It’s no secret we are facing one of the most challenging financial times of the last few decades as we...

Entrepreneurship3 months ago

Tony Delgado – The #1 Entrepreneurship Movement In Puerto Rico

Puerto Rican online market is in constant progress. With many entrepreneurs who are coming here to start a business, it...

Entrepreneurship5 months ago

Elena Cardone – The 10X Ladies Conference Is Declaring 2020 The Decade For Women

The next ten years are meant for women to continue growing their potential and succeeding in multiple areas, including business....

Entrepreneurship5 months ago

50 Million Dollars Later Kosi Stobbs Is An Immigrant Success Story

Canada, due to its favorable immigration policy, has attracted diverse nationalities to live among its natives. Consequently, the country has...

Entrepreneurship6 months ago

Multi Talented Artist Laci Kay Somers Reveals Her Secret To Compounding Her Wealth

Everyone wants to know the secret to getting rich but we all know that after studying the likes of Warren...

Marketing11 months ago

How Josh Elizetxe Built Snow Into a $40 Million Dollar Business

There is nothing quite like an entrepreneur’s determination when starting a business. That’s my original quote by the way (pun...

Entrepreneurship12 months ago

How Jason Capital Became A Self Made Millionaire By 24

Have you ever wanted to earn the respect of everyone who ever looked down on you at some point in...

Entrepreneurship1 year ago

Sam Bakhtiar On His Way To A Quarter Billion

Dr. Saman Bakhtiar, who prefers being referred as Sam, lives in an 8200 square foot $5.2 million house, Sam is...

Trending

Copyright © 2020 Disrupt Magazine

The Disrupt Magazine & Podcast tells the stories of the world top entrepreneurs, developers, creators, and digital marketers and help empower them to teach others the skills they used to grow their careers, chase their passions and create financial freedom for themselves, their families, and their lives, all while living out their true purpose. We recognize the fact that most young people are opting to skip college in exchange for entrepreneurship and real-life experience. This Podcast was designed to give them a taste of that.