CompassX May 2019

300 Spectrum Center Drive Suite 400, Irvine, CA 92618 949.387.9111 | www.compassx.com May 2019

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DID YOU KNOW?

The first ever photograph of a black hole, taken from 55,000 million light years away … has a mass 6.5 billion times that of Earth’s sun. Million. Light years. Mind-blowing.

WILL YOUR NEXT CAR BE ELECTRIC?

General Motors, Ford, Toyota, and other auto industry leaders are turning their focus toward electric cars. This might seem out of place for companies that have traditionally made their biggest profits on heavier trucks and SUVs. However, as auto writer John Voelcker points out, these companies are looking to the future. Car companies obviously don’t know exactly which technology trends will be the most profitable in 10–15 years, but right now, they are betting it will be electric vehicles. In the past, purchasing an electric car wasn’t an option for many people because of the high initial cost and low single-charge distance. But each year, the cost of battery cells goes down by about 7 percent, making the vehicles much more practical. In the early to mid 2020s, the cost of a plug-in car with a range of 400 miles will be comparable to its gas-fueled counterpart. This range of around 400 miles is ever so important because it is what consumers today obtain in gas vehicles.

With more car companies investing in electric, consumers will benefit from variety. A landscape initially dominated by only a few now offers a wider selection of vehicle options and price points. Upcoming offerings include Audi’s E-Tron GT, a sleek four-door, battery- powered sedan, and the upstart Rivian, which took over an abandoned Mitsubishi factory to build electric trucks and SUVs. Those close to the industry, like Voelcker, predict that the battery-powered auto trend will continue to rise as the price of battery cells goes down, innovations continue, and more consumers start to see electric cars as an affordable, and perhaps even cost-saving, option. So will your next automobile purchase be electric? Personal preferences, commuting range, and price points may very well make your answer “no.” But the chances increase dramatically when someone asks, “Will your car after next be electric?”

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