China, the world’s largest car market, is planning to stop production and sales of traditional energy vehicles in favor of electric vehicles (EV), and the decision has sped up competitive development by U.S. automakers. General Motors is promising to launch at least 20 new electric vehicles in the next six years. “General Motors believes the future is all-electric,” says Mark Reuss, the company’s head of product development.
The falling cost of lithium-ion batteries also brings a tipping point into view, observers say. By 2025 it’s possible that electric drivetrains will have no cost disadvantage compared with internal combustion engines.
Technology is fast resetting the outlook for what cars can do, how consumers use them and how much an EV will cost. Tesla, Ford and Japanese and European companies are also responding to what’s being called both “the age of electricity”, and “the age of personalized transportation”.