News came out earlier this week that the fastest production car on Earth was going all-electric. Imagine racing past a Bugatti Veyron without sweating a drop of emissions. Shelby Supercars’ Ultimate Aero TT clocked in the fastest speed for a production car last September, topping the famed Bugatti Veyron by 5km/hr (411.76 compared to 406.65).

Tesla Motors has shown that enthusiasts will gladly pay top dollar for the newest technology, especially all-electric sports cars. Tesla began production of its drool-worthy Roadster in mid-March with over 1000 reservations being made for the green machine, all without so much as a test drive. It is the only all-electric production vehicle for sale that is allowed for highway travel. Please don’t take a 7 horsepower GEM down the 405 to San Diego. A 0 to 60 of 3.9 seconds? That’s quire ridiculous. The quality of vehicle and quantity of miles per gallon (135mpg) solidify the Roadster as a sell-out vehicle and paves the way for the future of electric vehicles.

The Aptera Typ-1 will be hitting going into production late this year. With an estimated sub-$30k price tag, this three wheeler will be the first of many Tesla followers to jump on the all electric bandwagon. The Roadster and Typ-1 will battle it out and the anticipating competitors will thrive on any mistakes and jump right into the market with a finer strategy.

Toyota’s RAV4 EV was hardly as successful as the Tesla will be. The $40k+ mini-SUV was introduced way ahead of its time. Gas prices were still below $2.30 when it went into production, and most the world hadn’t heard of global warming. The battery technology from 7 years ago wasn’t nearly as advanced as is it today. The cost benefit wasn’t impressive enough to make a significant entrance into the automobile industry. Don’t be surprised if Toyota decides to manufacture electric and hybrid versions of the Rav4 within the next half decade.

The Electric Vehicle Market Statistics 2005-2015 details that the electric vehicle market generated $31.1B in sales in 2005. That’s proposerterous considering that a huge wave of production electric vehicles won’t hit us for atleast another year. The report estimates that the market will increase more than seven fold by the year 2015; that’s almost a quarter TRILLION dollars.

Gas prices are likely steadily rise for the foreseeable future, but at a much slower rate that over the past year. Such a trend willstimulate the transfer of consumer fuel funds to consumer car funds. While a hybrid or electric version of a vehicle always costs more than the standard base model, selling the hybrid/electric  model yields a greater percent return. In addition, you save all that gas money during the duration of ownership. in the end, you take a smaller net loss on a more expensive, environmentally-friendly vehicle.