The same is true for existing employees, who must adapt or find themselves unemployed.
But for companies like Arrival and Toyota, with its planned battery plant, the new facility represents a net gain in production, employees and income, while also boosting local communities and the state economically.
âNorth Carolina is well positioned to capitalize on the continued growth of the electric vehicle industry,â said O’Connor.
Economy and environment
Even as the production and consumption of electric vehicles increases in the United States, cost remains the main obstacle to the dominance of electric vehicles in the market.
“Batteries are by far the most expensive part of electric vehicles and why they are more expensive,” said Matt Abele, director of marketing and communications at the NC Sustainable Energy Association.
Most experts predict that “price parity” – the point at which it costs the same to build electric vehicles and those with fuel engines – in five to seven years, he said.
âAt this point, the argument against buying an electric vehicle is really diminishing,â Abele added.
But price is only part of the equation to encourage a greater transition to electric vehicles, insisted O’Connor of the Environmental Defense Fund. For the transition to be successful, lawmakers and business leaders must adopt policies that encourage – or in some cases mandate – the use of electric vehicles and the installation of enough charging stations to make electric vehicles a viable option for all drivers, he explained.