For decades, the need for zero-emission vehicles has remained solid and unmet. There was a battery-powered electric car around 1900. The vehicle's main flaw was that it had a poor top speed and a limited range. The growing campaigns to turn to more environmentally sustainable energy use in the twenty-first century meant that the automobile industry had to respond. It was one of the largest emitters of hydrocarbon fuels and CO2 into the atmosphere, which could not be sustained.
Major car manufacturers were under pressure to produce environmentally-friendly vehicles. This resulted in the development of low-emission Plug-in Hybrid Vehicles (PHEV) and Hybrid Electric Vehicles (HEV). Hybrids begin with an electric motor and then convert to a gasoline engine as speed increases.
History of electric vehicles
When discussing electric vehicles' history, it's important to remember that Tesla Motors was created on July 1, 2003. Tesla's long-term aim is to develop a mass-market electric vehicle that is both affordable and reliable. Before that, no corporation had attempted to go entirely electric.
Tesla has been through many ups and downs since 2004. They were able to escape bankruptcy thanks to venturing capital support. A series of mass firings were also carried out to save money. All of this was done in order to achieve Tesla's target.
Tesla was on the verge of collapsing if it did not get new funding, so a blog covering vehicles called "The Truth About Cars" launched a "Tesla Death Watch" in May 2008. Daimler AG, Mercedes Benz's manufacturer, paid around $50 million in May 2009 for a stake of less than 10% in the company. Tesla was spared, according to Musk, because of Daimler's investment.
The loan that saved Tesla
It was reported that Tesla received US $465 million among the US $8 billion Advanced Technology Vehicles Manufacturing Loan Program in 2009. It was created to offer a low-interest loan to support the production of greener vehicles.
Tesla put the money to good use, and in an unexpected turn of events, it was the first to pay back the loan. Despite Mitt Romney, the then-presidential nominee, naming it a "loser" and comparing it to the now-defunct solar company Solyndra.
Tesla outperformed the other three recipients in meeting all of their targets and repaying the loan five years ahead of schedule. Nissan ultimately repaid their loan, and Ford is scheduled to do so in 2022. Fisker, the loan's final recipient, went bankrupt and defaulted on the loan.
Elon Musk reported that Semi truck production would almost coincide with Nikola, an electric and fuel cell truck startup. Nikola has come under fire after a Bloomberg report described the first electric semi-truck as "inoperable, missing pieces." Nonetheless, Tesla has ignited and shown that mass production of fully electric vehicles is possible. Established motor companies are venturing into electric cars because it is the energy of the future.
From electric cars to electric planes
The airplane industry will be the next to be affected by the transition to all-electric vehicles. According to a survey, the United States was responsible for almost half of all CO2 emissions from aircraft worldwide. This necessitates urgent intervention and outcomes. The future of quieter, less expensive, and environmentally friendly airplanes is almost upon us. You have no idea what to expect from now on. Something will arise in the aerospace industry, just as it did in the automotive industry.
We're left with nothing but patience as we watch the already-disrupted automobile industry shift its focus from gasoline to electric vehicles. So, are you prepared for a CO2-free future?