Ever since the impact of the price rise in crude oil, there has been an attempt by the Western world to create an alternative for fossil fuels in case of any adversary. Russia – Ukraine war has compelled the world in general and Europe in particular to think of severe economic turmoil due to excessive dependency on fossil fuels. it is no hiding fact that while most of Asia depends on the Middle East for its fossil fuels needs, Europe primarily depends on Russian oil and natural gas for its business and home purposes. As the Russian-Ukraine war ensued economic sanctions on Russia prevented the import of oil from Russia. This resulted in the severe economic collapse of Europe due to fuel shortage. This was the first time Europe had experienced any kind of fuel shortage post WWII. The Americans have learned their lesson during the Middle Eastern oil crisis way back in 1973. since then USA has advanced in fuel production domestically to become a top nation in producing oil across the world in the current scenario. Over the years the United Nations has spearheaded the campaign on global warming and its implications on world-cutting national frontiers. this leads the world nations especially advanced and developed nations to become less dependent on fossil fuels and turn focus on producing more green energy.
over the past decades, the advancement of technology has created new businesses based on green energy thus creating a balance between business and ecosystem. The prime is zero-emitting electric vehicles. there is a great deal of pressure on auto manufacturers to improve the quality of vehicles to reduce carbon monoxide emissions. stringent rules have been set to control carbon emissions from automobiles. ever since the revolution in electric vehicles, there were tax benefits for manufacturers were also declared by nations. Tesla has entered into electric manufacturing and recorded record sales lately. while it is a good outcome to see people coming forward to purchase the electric vehicles, on an other hand the technical issues could be seen as concerning factors. ever since the various news of issues faced with the electric cars, the manufacturers have now contemplated on decrease in the manufacturing of electric cars and lay focus on hybrid cars. As the famous American automobile manufacturer says ” Electric cars are revolutionary products indeed but there are shortcomings and circumstances suggest, time has not ripened for solo electric vehicles, so we now lay focus on manufacturing hybrid cars to curtail those shortcomings” If we deep dive into this issue, there are primarily two main concerns to be addressed to see the sale of electric cars picks up momentum again. First and foremost is the effectiveness and durability of Lithium batteries used in electric cars to charge through electric charging points. second is the lack of sufficient electric car charging points throughout out length and breadth of nations, unlike gasoline filling points which are in abundance in nuke and corner of the world.
This had crippled and turned out to deterrent in the electric cars business in the market. This could be overcome in the next decade by constant focus on manufacturing quality lithium batteries which can provide long battery life and creating electric charging points everywhere possible.