As Tesla Model 3 Hits the Streets, Where Are the Other Electric Vehicles?
A Mercedes-Benz B 250 electric automobile sits connected to a charging point at the Mercedes-Benz AG exhibition stand ahead of the IAA Frankfurt Motor Show in Frankfurt, Germany, on Monday, Sept. 14, 2015. The Frankfurt International Motor Show starts on Thursday, and nearly one million visitors are expected to view the latest must-have vehicles and motoring technology from over 1,000 exhibitors in a space equivalent to 33 soccer fields.
Photographer: Krisztian Bocsi/BloombergIt might seem like there’s more news about electric cars lately than actual electric cars on the road. Automakers are pouring billions into an uncharted electric future because the cars are getting cheaper more quickly than expected, and because governments worldwide want concrete action against climate change. The ambitious plans present a jarring contrast to what’s actually happening in showrooms today. In the U.S., for instance, low gasoline prices have super-charged sales of pickups and sports utility vehicles.
China became the latest country to discuss setting a deadline for phasing out internal-combustion engines, following France, the U.K., India and Norway. Volkswagen AG Chief Executive Officer Matthias Mueller announced plans to invest 20 billion euros ($24 billion) to develop electric versions of all its models by 2030 and another 50 billion euros into batteries. Volvo said it will begin phasing out cars that run just on fossil fuels in two years. Tesla took a step toward becoming a mass producer in August when the cheaper Model 3 sedan started rolling off its California assembly line.