Low-speed electric vehicles are gaining momentum across the world. Why are suddenly electric vehicles with low speed getting the attention? Cars are associated with the words fast and quick. But these vehicles have a peculiar difference. As the name suggests they have less speed. Why would people want to buy a car that does not ride at a medium or faster pace? Let us find out. But before jumping in let us mark the territory outside the topic first! We will walk ourselves in through the proper course, won’0t we? Let us see why did the world shift its focus to electricity as a source of fuel.
As the world battles global climate change and rising sea levels, humans want to reduce their carbon footprint. One of the major sources of pollution is the millions and millions of cars that run across the dense network of roads. Even when the road network is so advanced and wraps the earth like a spider web, traffic jams happen. This shows us the volume of vehicles out there. The more the number of vehicles, the more the pollution. Shifting to a cleaner source of energy was the only option left to human beings. With this, an invention was necessary- the invention of electric cars.
When electric cars were introduced it was not the first time electricity was used as fuel. Trains run on electricity before. People just did not know about the viability of the idea. After years of research and trials, scientists were able to fit an electric motor in a car. Voila, the electric car was born! These cars are also known as the Low-speed electric vehicles, neighborhood vehicles. The sales of these cars are skyrocketing. Even in the difficult times of the pandemic, the sales did not plummet. Low-speed electric cars have grown over the people. They have shown that they are here to stay!
What are these electric vehicles which run at low speed? Which vehicles do qualify in this category?
Electric Vehicles that can reach a speed of 20 miles per hour within a mile are classified to be categorized in the following title. The maximum speed may still range up to 25 miles per hour. When converted to a kilometer per hour system, the range comes to 40-60 kilometers per hour. Apart from this criterion, electric vehicles also have a restriction on weight. Electric vehicles can have a maximum weight of 3000 pounds. These vehicles are geared and can have either manual or automatic transmission. We specifically say that these vehicles are not to be confused with golf carts and buggies.
The electric vehicles belonging to this criterion have established their footprint over the world. A few automobile giants rule the sector. Very few of them have the numbers significant enough consideration. This shows that this market is still untapped and is brimming with potential. It is just waiting for the right people to invest in it and take it to growth.
These cars are famous for their numerous applications. Be it running errands or as utility vehicles, be it in the airports or for zipping through the city these vehicles have multiple areas of application. The versatility of these cars is a great strength and will definitely play to the benefit of the sector. With these multiple vectors, these cars have paved the way for a better future.
The market for this criterion
The world today is vying for sustainable energy. Because of this, electric cars have gained a lot of traction. The traditional cars run on gasoline and are highly polluting. Even the oil prices keep fluctuating on a daily basis. These prices are poised only to rise. This is because the demand for oil will never decrease. And while this happens the oil wells get depleted. All these reasons point out why the market for low-speed electric vehicles is going to shine.
Apart from all these factors, the government regulations aimed to tighten the noose around the neck of tailpipe emissions aid the process. The extra burden of carbon emission tax and fuel tax in some countries make traditional cars a costly affair. Tax rebates on many of these low-speed vehicles have boosted the sales.
Furthermore, an electric vehicle needs less maintenance. This means lesser costs over the period of time. Apart from the savings in fuel costs and the tax benefits, this extra added benefit in the long -term price benefit is highly helpful.
Looking at all these voids, in the hope to fill them many manufacturers have thrown their hats in the game. Many new small-scale entrepreneurs aim to capitalize on the situation and win big. As we are already saying, this market is going to see massive changes in the coming time.
Classification
The criterion is further divided ahead into many subclasses. These divisions are made to easily classify cars and make choices easy!
When segregated in terms of gear transmission, we get
- Automatic Transmission
- Manual Transmission
When the same criterion is changed to performance and use, the divisions change to:
- Electric Low-speed Off-road Vehicles
- Electric Low-speed Heavy-duty Vehicles
- Electric Personal Utility Vehicles
Regional Perspective
This class of electric vehicles has seen a massive upside in the Asian market. In developing countries like India and China, this demand is increasing very rapidly. This market is expecting a sluggish start in the middle east Asia region. This is because the countries in this region are major producers of oil. Growth of this new sector would hamper their profits from oil. In the American and the European continent, the growth is even higher. This growth is attributed to the availability of supporting infrastructure. Accessibility to charging stations is one of the major deciding factors.
Having said all of this, we feel we have touched all the bases to imply why these cars are going to be our future. We sincerely hope you like our effort. We will be back with a new story and new coverage. Till then be safe and drive safely!
You may also like to read: Renault Twizy EV: Cool Things You Need to Know in 2020
