Electric Vehicles Would Save Billions of Dollars

Clearly, electric vehicles are the way of the future. Though we as a civilization are quite excellent at ignoring the future, it can only be avoided for so long before fossil fuels physically run out one day. Elon Musk and other automakers are climbing on the bandwagon right once because they want to corner the market before their competitors do, not only to appeal to the ecological conscience. Electric is a potential winner for a number of important reasons.

First of all, it might save lives. Thanks to less pollution, there are hundreds of thousands of them. However, switching over is a smart move from a purely economical perspective as well. One study claims that switching to electric vehicles on the road would save pollution and climate change-related losses by almost $17 billion annually. That serves as a pretty effective motivator, but only if 25% of autos make the move. Savings exceed $70 billion when the number of cars on the road is increased to 75%.