Although electric cars were seen as dinky compact cars with limited range and performance in the early 2000s, modern companies like Tesla have made EVs a lot more desirable with excellent performance and luxury. Battery technology has also advanced significantly over the years, providing equivalent range to regular IC cars. With such significant advancements in the EV space, public opinion has changed and in a recent survey by Consumer Reports, over 70% of young Americans are considering an EV as their next car.
Because of the sudden popularity, a lot of manufactures have shifted their focus to developing EVs. Nowadays, there are a lot of electric cars for sale from compact hatchbacks to big SUVs. According to the survey, the biggest concerns for EVs are the range and charging infrastructure, with many consumers stating that they want an EV that can cover at least 300 miles on a single charge.
In fact, modern EVs like the Tesla Model 3 sold more than 200,000 units last year. However, EV ownership still has its downsides, and will mostly depend on certain factors. To check if owning an EV is the right choice, here are some factors to consider before investing in one.
Low running costs
Unlike a conventional gas-powered car, EVs use electric energy which is a lot cheaper and can be charged at home. The situation for regular IC cars is made worse by the sudden rise in fuel prices, and the average American now spends around 15 cents to cover a mile, while a comparable electric vehicle costs just 5 cents per mile. This translates to huge savings in the long run.
As of now, the average electricity cost in the US is 13.28 cents per kilowatt-hour and will vary greatly depending on your region. Changes in energy costs will affect EV ownership and running costs, especially if you live in states like California where the cost is nearly 20 cents per kWh. According to a recent study by the EPA, comparing similar models like the Tesla Model 3 and BMW 3 Series, fuel costs are over three times higher than electricity costs.
Adding up to a year, the total savings can cross $4,000. Although the initial purchase price is higher, the government is offering a lot of incentives for going green.
The federal government is currently offering EV buyers a $7,500 tax credit which applies to fully electric cars. However, companies like Tesla and GM that sold more than 200,000 units are not eligible for the credit.
EVs are also more expensive to insure because of the expensive battery pack that can be easily damaged in a collision. Because of this, EVs cost on average 23% more than conventional models to insure.
Convenience
Because electric cars can be charged at home, you don’t need to go to a fuel station to charge your car, making ownership a lot more convenient. Even if you go on a long road trip, modern fast charging will take just minutes to charge the car back up. Although the standard 110-volt outlet will take quite a while to charge, many consumers are installing 240V outlets that allow level 2 charging.
Even if you plan on a long road trip, many charging stations offer DC fast charging which can charge up to 80% in under an hour depending on the vehicle.
Zero emissions
Since electric cars run purely on electricity, they are the cleanest vehicles currently available. However, battery recycling is still being developed for use on a larger scale.
Because of no combustion and toxic gases, EVs are a lot better than hybrid models in terms of emissions. Over the years, the shift to EVs is inevitable because of global warming and several other factors.
Safe and easy to drive
Electric cars use a relatively simple drivetrain that uses a direct drive system with no gearbox in most cases. The low placement of the battery pack also improves the center of gravity and handling.
The controls are also relatively simple and only consist of a simple gear lever and two pedals, like a conventional automatic car, making them easier to get used to.
Safety is also paramount for EVs, and a lot of modern vehicles have passed safety tests with the highest scores. Because of the low center of gravity, most EVs will not roll over as easily as regular cars.
Maintenance
As expected, electric cars are much cheaper and easier to maintain than gas-powered models. Since there is no engine to service, and no fluids to change other than the coolant and brake fluid, costs are a lot more reasonable. Brakes also last a lot longer thanks to regenerative braking that uses the motor to slow the car down.
If the battery fails out of warranty, expect to pay at least $5,000 for a replacement which is similar to the cost of an engine rebuild. Because of the federal government requirement, all EVs will come with an 8 year/100,000-mile warranty.
Future of EVs
Since EVs are regarded as the future of mobility after gasoline-driven vehicles, a lot of manufacturers are developing new technologies to improve range, performance, and reliability. The next big advancement is expected with solid-state batteries that offer higher energy density and can be recharged a lot quicker.
A lot of countries have already set deadlines for ceasing gas-driven car sales. Because of these upcoming norms, a lot of research is being done in the EV field including technologies like wireless charging and more efficient drivetrains.
Overall, we can safely assume that EVs are the future for mobility, and soon, almost everyone will be driving one.
