2020 threw a curveball no one could have expected. Four months into the year, the country was seeing Depression Era levels of unemployment, and the situation has grown worse. With movement and commerce at an all-time low due to social distancing and self-isolation protocols, industries like food service and airline travel have suffered severe losses. The auto industry hasn’t been spared either, with domestic automakers seeing their sales plummet by nearly one half from a year ago in the first quarter of the year.
However, as dire as the situation is, it presents a new opportunity. Most developed countries already have plans to phase out internal combustion engine vehicles in exchange for electric vehicles. With the environment already healing due to reduced human activity, this may just be the perfect time to launch the Green-Car New Deal, a massive coordinated private-public partnership that would overhaul America’s transportation system and replace fossil fuels with zero-emission-energy.
Not only would this investment cut our carbon emissions by a great deal, but it would also save existing jobs and create new ones at a time when the country is facing the greatest economic crisis in a century. While the initial cost may scare off those looking to go green, the cost of charging an electric car is far lower compared to constantly refueling a conventional car. The government offers $7,500 in federal rebates for buyers but it would be easier on buyers, especially given the times we’re in if these could be provided at the point of sale.
While most modern internal combustion-engined vehicles have a limit of 200,000 miles lifespan, plenty of EV battery packs can easily outstrip that range. Several companies are also in the process of developing a million-mile battery that could be used to power at least two vehicles and act as a stationary power storage solution in its lifetime. With capital from the government and investors, this technology could be fast-tracked and made available quite soon.
Under the Green-Car New Deal, there would be a carefully planned installation of chargers along popular corridors, at workplaces, and other locations where consumers already spend a significant amount of time. Chargers would also be installed in multi-unit dwellings, public housing, and on-street/public parking. Solar and wind power sources (thus new job opportunities) would have to be developed to cater to these new energy demands, with the government heavily prioritizing and incentivizing green sources of energy.
Widespread adoption of electric cars under the Green-Car New Deal would boost the young EV industry, fast track the growth of solar and wind energy to power a national grid of electric cars, cutting emissions, and providing much-needed jobs. This is the kind of future that companies like Workhorse Group Inc. (NASDAQ: WKHS) are working hard to bring to reality.
About Green Car Stocks
Green Car Stocks (GCS) is a specialized communications platform with a focus on electric vehicles (EV), as well as other emerging market opportunities in the green sector. The company provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, GCS is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, GCS brings its clients unparalleled visibility, recognition and brand awareness. GCS is where news, content and information converge.
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