Is the auto industry going electric?
It seems like that.
The 2019 New York International Auto Show had more than 40 vehicles with a battery power component.
Wait there's more. The top two of the three finalists for 2019's World Car of The Year were fully electric. The Audi's (AUDVF) e-tron was the second runner up while Jaguar's (TTM) - Get Report first all-electric vehicle, also known as I-Pace, took home the first prize.
While New York was hosting the International Auto Show, Ford announced a $500 million investment to develop an all-new electric vehicle with Rivian, a start-up company based in Michigan.
This also suggests that bigger companies are not letting electric vehicles get away from their hands. Also, the sales of electric cars are on the rise. According to Inside EVs, in 2018, electric vehicles sales were up by 81%.
Jerry Kroll, the founder of Electra Meccanica (SOLO) - Get Report , the company that sells a single-passenger electric vehicles, is hopeful that the industry will continue to boom. He cites his company's sales figure to back it up.
"Our first two years are sold out-23,000 orders," he said. "We have 5,000 coming out in calendar year 2019 - 20,000 the following year," Kroll said.
"I expect as these cars are delivered now in San Francisco and Los Angeles, our sales are going to spike," he added.
The sales of electric vehicles are increasing not only in the U.S., but also in other countries.
Electric cars outsold other non-electric car models in Norway for the first time in March 2019, which was about 60% of all vehicles sales.
Want to know more about the future of electric cars? Watch the video above.