Why is the electric car is so fast to adapt? Compared to traditional fuel cars, the electric car goes through numerous changes in a given time. That's because at its heart an electric car is a gadget, and technological upgrades in gadgets are rapid. For example, a typical electric car can go about 100 miles on one charge. In a year this is expected to double with just a small upgrade to the technology at a low cost. That is the power and clear advantage of an electric car. It can be subjected to numerous innovations and quickly.
So what does Trump's presidency mean in all this? Will it sustain the new technology or grow leaps and bounds?
His Fossil-Forward energy approach should take some pressure off of automobile manufacturers. There will be a softening of the energy-efficiency targets set under Obama's administration. The country's largest automobile group has requested that the Trump government roll back the energy-efficiency targets to 2025.
Softening targets might mean selling more SUVs. The reins of fuel economics are tightening; this has forced automaking giants like Ford, The Nissan cars dealer and General Motors to sell smaller vehicles along with electric cars in order to balance out their energy-inefficient larger trucks. But this won't be the end of the electric car. In some ways, selling more SUVs could really help with the heightened fuel economy standards.
Since larger vehicles like trucks and SUVs carry a significantly larger profit margin, automotive manufacturers prefer selling these bigger vehicles over smaller ones like family wagons. In addition, more optional accessories means a higher profit margin.
The cornerstone for this is rather simple: cheaper fuel. Fuel efficiency is a rather sluggish system and little change happens in a standard environment. It really tend to follow gas prices. Historically, fuel efficiency standards have had a very sluggish growth compared to other technologies. It has always required a federal regulatory "nudge" to make critical developments. Mileage has pretty much plateaued through most of the last century; it jumped up significantly after the oil shocks of the 1970s and following the first federal fuel-efficiency regulatory standards. Recently, the fuel efficiency of newly-manufactured vehicles has increased again as gas prices have surged -- although the oil crash has significantly slowed this forward momentum.
There is always the threat that Trump's brash foreign policy will renew sanctions on Iran and Middle Eastern regions and increase the likelihood of a surge in oil prices. The US has always been a net importer of oil, even in spite of the shale boom.
Electric vehicles continue to make technological innovations, greatly increasing driving ranges and reducing price ranges. It has been forecast that the number and variety of electric vehicles to hit the market will keep rising throughout this decade and the next.
Major automotive companies - the most obvious being Tesla, but also BMW and even GM - have invested a great deal of money and reputation in their respective models of electric vehicles. GM's Chevy Bolt is making waves and winning multiple awards, although it hasn't even hit showrooms yet.
The US accounts for only 1/5th of global vehicle sales. Rapidly-growing markets with a need for energy-efficient vehicles, such as China, Japan and India, have reason to embrace this new technology. In order to sustain growth in the face of ever-increasing fuel dependence from foreign soils, these changes would be welcome.
California has much stricter fuel-economy targets than the federal government, and the fact that 1 out of every 8 new US vehicle registrations is in California shows a positive side to this.
Although it might seem that the momentum on fuel efficiency -- the backbone of electric car technology -- would slow down under Trump's administration, the global automotive players have enough incentive to carry on their work on next-gen fuel-efficient vehicles.