Influx of Electric Vehicles

Something that is becoming increasingly evident to me is the reality that all of the fossil fuel burning vehicles on our roads today are going to be replaced by some form of “clean energy” transportation. As of right now, the leader in replacing these vehicles is the “electric car.”

It may seem hard to believe that the way things are today is not how they will be in 5 years. However, the numbers are clear. The Tesla Model 3 is the catalyst.

Last year, the global sales for electric vehicles were a mere 74,000 units. That’s nothing!

Within 2 weeks of announcing the Tesla Model 3 over 400,000 units have been reserved. This is just one model from one manufacturer of electric cars.

These 400,000 reservations have effectively doubled the amount of EV’s around the world. However, they are not here yet; which is a good thing, because we are not ready.

The drain on the electrical grid that all of these electric vehicles are going to cause is something that we are not ready for. My guess is that we could see blackouts and blown transformers if everyone were to plug in their EV at the same time. In addition, we don’t even have the charging infrastructure to support this many vehicles. There would be line ups at all charging stations.

This smells like an opportunity.

We at Singularity Ventures are currently working on building out the infrastructure to support these electric vehicles and we have some very unique ways of doing it.

Keep following to find out more 🙂

 

Morgan Maryk

Founder/Singularity Ventures

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