Adoption of electric vehicles (EVs) is becoming a reality in the Richmond Region and throughout the Commonwealth of Virginia. Virginians spend $13 billion each year on petroleum for transportation. Electricity represents a less expensive, cleaner, and locally generated energy source that also contributes to new economic advantages. The energy industry research group PRTM Management Consultants has estimated that vehicle electrification could represent more than $250 billion in economic development opportunities worldwide by 2020. This estimate considers growth in electricity generation and distribution, grid and infrastructure investments, batteries and their components, vehicle sales, and associated advertising and marketing services.
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