As time progresses and fossil fuel reserves decline, the automobile industry is looking for more cost efficient and renewable ways to power vehicles.

There are various types of renewable electricity: solar, hydroelectric, geothermal, and wind. These sources are combating the need for fossil fuels as they become cheaper and more accessible to the general populace.

However, electric power is the future of motor vehicles as they significantly reduce the amount of air pollution released into the atmosphere each day.

Tesla, a company owned by multi-billionaire Elon Musk, is dedicated to producing affordable electric vehicles. Currently, Tesla has three models: the Model S, Model 3, and Model X. The company is also developing a new electric sports car called the Tesla Roadster.

The company offers a wide array of different styles. For instance, the Model S is more focused on being luxurious, while the Model 3 is the more affordable option.

Tesla estimated that they have saved 2.5 million tons of carbon dioxide emissions from entering the atmosphere.

Electric cars are also being implemented in a competitive motor sports racing series called Formula E. Formed by the Fédération Internationale de l’Automobile (FIA) — an international organization of racing fans — established an all electric car racing series that is currently on its fifth season. Recently, FIA introduced a new generation of cars purely for this electric racing series.

Currently, Formula E has a larger manufacturer team than the Formula 1 racing series – which uses only fossil fuels. Manufacturers for Formula E are attempting to develop electric power units. Since electric vehicles produce little- to-no noise pollution, official Formula E races are held on the streets.

Formula E also helps develop cars such as Jaguar’s new SUV called the I-Pace, which applies lessons from the race track to driving on the road.

As electric cars continue to gain popularity, they are rapidly becoming more cost effective and accessible over time.