Gurjit Singh Kochar is Dubai one of the most imminent motorcar enthusiasts. With having great knowledge and vision for a sustainable future, Kochar seems to be very keen on Electric Vehicle evolution in USA, Dubai, India as well as across the globe. He has procured some of the best models available in Dubai including the Tesla, Audi, Volkswagen to name among the many. But he seems to be even more delighted to find how the future is getting brighter for the vehicle market in top countries like that of the USA and UAE.
The USA is more than ready to buckle up its ride to the future by staying away from the oil industry. President Biden at his presidential election put forward this idea of electrification of road transport and replace it to counter the nation’s 70% oil consumption. Gurjit Singh Kochar is happy because his long fight towards a sustainable future and fight against global warming is finally getting to an end. The United States is observing this shift owing majorly due to the green government policies that are taken up more in number, and the market forces too.
Gurjit Singh Kochar thinks that this transport electrification is one of the major first-world trends that the 21st century is observing. If the trend can be channelized to the perfect path, then the market can react overwhelmingly. Investors are pretty excited about this surging trend and it is quite evident how Tesla’s stock prices had marked growth of 415% since January.
The global sales and acceptance of electric vehicles surged to a dramatic 65% throughout 2017-2018. But sales have been steadier than even throughout 2019. The COVID-19 pandemic although had a great impact in lowering down the figure by about 25% in the first quarter of 2020.
But there had been bigger finance predictors globally who are indicating the revamp of the EV sale in the USA from this decade again. Gurjit Singh Kochar observed that the newer vehicles that are getting launched now are having more improved batteries and their chances for running longer miles have increased greatly. The charging infrastructure has also been improved and the price parity with ICE vehicles has given them a better chance to get adopted more in this fast-paced market.
The United States has been a market that saw every EV international trend getting outpaced. The steady rise of 80% has kept the nation ahead of the curve but Trump’s administrative phase-out was a setback. The federal tax credit and fuel economy standard loosening had left the investors pessimistic. But with situations changing, General Motors announced a $2 billion investment to build domestic assembly plants dedicated to EV manufacturers.
Gurjit Singh Kochar’s opinion on this matter reveals that such proactive investments will be the key to drive the global vision towards an all-electric future. The USA has an aim to meet net-zero emissions by 2050 and EVs are just stepping stones towards this visionary future.