With many companies eyeing a more sustainable future, the automotive industry is diving headfirst into new technologies in the race to carbon neutrality. Over the course of the next decade, car manufacturers are ramping up productions of electric vehicles with the expectation of reducing the number of gas-powered cars on the road today.

Nearly 150 years since the first electric car was built in the late 1800s, the popularity of Tesla over the course of the last decade has led to a rise in interest in EVs among consumers. If you are thinking about making the switch from gas to electric, here’s what you need to know about where the industry is now, and where it’s headed.

Incentives and credits to get more EVs on the road

Rebates and incentives have been around for a long time, especially for people who have made energy efficiency upgrades to their homes in the form of solar panels, insulation and more. With dozens of EV models currently available for purchase by major car manufacturers, federal and state governments have put incentives in place to assist with purchases.

The rebates differ between whether a car, or light truck, van or SUV is purchased, and on the MSRP price cap for these specific vehicles. Some states also offer incentives on top of what is available from the federal government, along with some energy companies offering rebates on the instillation of home equipment and yearly management costs.

Going the distance

One of the challenges that persists with electric and plug-in hybrid vehicles is the lack of range for current batteries, charging times and finding places to charge cars. The number of gas stations vastly outnumber those of the charging variety, but that is starting to change.

More regions of the country are starting to devote infrastructure projects to increasing the number of EV charging stations in busy areas. In major metropolitan markets, governments are using places such as grocery stores, shopping centers and other commercial areas as testing grounds for charging infrastructure. Not only in these areas, but increasing intrastate projects with charging stations along interstates and highways will only increase the viability and range of EVs in the future.

Know your coverage

If you are looking to take a step toward purchasing one of your own, there’s no better place to start than ensuring you have quality auto insurance that covers electric vehicles. While states have different rules regarding underwriting, Westwood does all the work to make sure that customers are compliant from the start. Contact an agent today, and take the first step toward a cleaner future for yourself and the planet.

Please Note: This article is for general informational and educational purposes only. It does not represent any specific insurance policy and does not modify any provisions, limitations, or exclusions of any current policy.