Electric vehicles (EVs) are powered by motors that draw electricity from onboard batteries, and they can be recharged at home or at public charging stations. EVs are more than just cars—they’re technologically advanced connected devices inside and out. They’re quieter than gas engines and produce zero tailpipe emissions. They’re also more durable with fewer moving parts, and they typically require less maintenance.
With the help of scientists and engineers who’ve crammed more energy into ever-smaller batteries, EVs now have driving ranges comparable to those of gasoline cars and SUVs. They also feature sleek styling and a host of high-tech features, including advanced infotainment systems, advanced safety systems, and more.
EVs are increasingly popular worldwide, and a growing number of models are available from manufacturers around the world. In 2023, global sales reached a record 1 million EVs, up from just 770,000 in 2012.
In addition to the traditional car, truck, and van models that can be charged at home or at public stations, many companies have developed vehicles with modular battery packs that can be mechanically switched in minutes between full and empty. This technology is known as “battery swapping” and may eventually be offered for commercial applications such as delivery trucks and airport shuttles.
As EVs become more common, they could reduce global receipts from fossil fuel taxes by as much as $55 billion annually. This would create a fiscal challenge for some governments. But a switch to EVs could also save drivers money and give them more choice in their mobility options.