It Could Be 10 Times Cheaper To Take Electric Robo-Taxis Than To Own A Car By 2030

Ask a typical industry analyst how long it might take Americans to take most trips in electric cars, and they might say the middle of the century–or later. The Energy Information Administration predicts that only about 3% of miles traveled in the U.S. in 2050 will happen in electric cars. But a new report suggests that it could happen in a little more than a decade.

Self-driving cars, the report predicts, will make ride hailing so cheap that the market will quickly transform–and because electric cars can last longer with heavy use, it will make economic sense for those cars to be electric, as well. By 2030, 95% of passenger miles traveled in the U.S. could be happening in on-demand, autonomous electric cars owned by fleets rather than individuals. The average family could be saving $5,600 a year on transportation. Also, the oil industry could collapse.