Are Electric Cars Worth Buying?

Are Electric Cars Worth Buying?

Are electric cars worth buying?

Electric cars are the future and we probably are well aware of what Elon Musk is doing in this field of electric cars. According to KPMG survey published in newswire, they found that 7 out of every 10 Canadians who will be planning to buy a new vehicle in the next 5 years will likely buy an electric vehicle.

Electric cars are gaining popularity among Canadians as people become more and more aware of climate changes like global warming, lower operating costs, tax incentives and lower insurance premiums etc. There are many hidden costs of owning a car if you are a student.

Did you know?

Electric motive power started in 1827, when Hungarian priest Ányos Jedlik built the first crude but viable electric motor, provided with stator, rotor and commutator. Source – Wikipedia

If you are thinking of buying an electric car for yourself then you must analyze the pro and cons of owning one. One of the biggest questions that electric car owners face is which vehicle should they choose – All Electric Vehicle (AEV), a gasoline vehicle or Plug-in Hybrid Electric Vehicle (PHEV)

Let me first explain them one by one

1. All Electric Vehicle (AEV)

These types of electric vehicles are also called as pure electric vehicles as these vehicles are purely powered by electric motors. The electricity may come from batteries (battery electric vehicle), fuel cell (fuel cell vehicle) and solar panels (solar panel vehicles).

2. Plug in Hybrid Electric Vehicle (PHEV)

As the name suggests these are hybrid electric vehicles that have rechargeable batteries. These batteries may be recharged from an external source or an internally build mechanism of internal combustion engine-powered generator. These vehicles run on a combination of electricity and gasoline.

3. Gasoline Vehicle

Gasoline vehicles are the same as diesel vehicles. These mainly use diesel and petrol as fuel and emit harmful oxides which degrade environment.

In this blog, we will clear the most common question or doubts that will assist you in making a quality decision on which type of car you should buy?

Pro: Energy Efficiency of Electric Cars is High 

Energy efficiency of a vehicle is defined as amount of energy converted from a fuel source to move the wheels. The electric cars have very high energy efficiency around 70% where as conventional gasoline vehicles are only 15-25% efficient. Electric vehicles also use regenerative braking phenomenon which is wasted in gasoline vehicles when we apply brakes.

According to a blog published by TESLA, battery powered EVs uses regenerative braking to convert the kinetic energy into chemical energy which is stored in the battery. Later on this stored energy can be used to drive the vehicle.

Pro: Environment friendly 

Electric vehicles contribute to fewer emissions than conventional gasoline vehicles. All vehicles generally produce two types of emissions: direct emissions and life cycle emissions

Direct emissions include all green house gases mainly carbon dioxide, smog forming pollutants like nitrogen dioxide and other gases which are harmful to living beings.

All electric vehicles (AEVs) produce zero direct emissions where as plug in hybrid electric vehicles (PHEVs) produce substantial amount of emissions as they use gasoline engines also. But due to their high efficiency, the amount of pollutants produced is very low as compared to gasoline vehicles.

Life cycle emissions include all the emissions from manufacturing and usage. For a gasoline vehicle life cycle emissions may include emission caused in vehicle production, distribution, recycling etc. It is difficult to calculate the life cycle emission of vehicles.

All types of vehicles produce life cycle emissions but electric vehicles emissions are very less as compare to gasoline. As electricity is renewable source of energy so the overall life cycle emissions are low. EVs can further reduce their life cycle emissions if the companies use renewable energy resources like wind and solar to produce electricity.

So if you are choosing an electric vehicle you are taking huge step towards sustainable development.

Pro: Low Maintenance as Compared to Gasoline 

The electric system like battery, motors require minimal scheduled maintenance as compared to a combustion engine. So, all Electric cars require low maintenance as compared to traditional gasoline cars. Since PHEVs also uses internal combustion engines, so their maintenance is quite high as compared to AEVs but is lower than gasoline vehicles.

Here are the four reasons due to which EVs require low maintenance

  1. They use regenerative braking so the wear and tear of brakes are very less.
  2. The electric parts like motors, batteries are more efficient and reliable.
  3. EVs use less fluids like engine oil, so require less maintenance
  4. They have fewer moving parts as compared to conventional gasoline engines.

Batteries in AEVs have limited number of charging cycles. So be sure to check with dealer about warranty of battery and charging cycles. Some of EVs use liquid coolant to maintain the temperature. So refer to the vehicle manual for more information. Some PEVs offer 8-year/100,000-mile warranties of their batteries. The warranty may vary from vehicle to vehicle so be sure to check this point.

Pro: High Performance 

The performance index of EVs is higher than gasoline vehicles. Most people assume that the vehicles with high and rough sound have more speed and torque. Electric cars create very little noise but that doesn’t mean they have low performance. In fact the opposite is true. EVs have higher torque and speed as compared to gasoline vehicles.

The use of electric motor in EVs is helpful in providing full torque in very less time from 0 kilometers to full speed. EVs uses power more efficiently as they have less moving parts.  In traditional vehicles, the power is lost in moving parts like gearbox etc. This makes electric vehicles less efficient.

Some of the models of TESLA provide full self driving capability – driverless electric cars. These cars run on auto-pilot.

Con: Electric cars are more costly than Gasoline Cars

In Canada, the cheapest electric vehicle available is Volkswagen e- Golf 2020 and its price is around 39,000 dollars. So as you can see EVs are more expensive than gasoline vehicles.

In future, we might see that the gap of price between EV and gasoline vehicle will decrease due to technological advancements.

Even the government in Canada is also encouraging people to own electric vehicles. They are offering rebates around 5000$ for vehicle. To know more check out the list on Transport Canada.

If you are living in British Columbia, you will be getting an additional rebate of 3000$. So if you are looking for car loans in Surrey BC  on electric cars and enjoy this compensation then do connect with our dealership.

Con: Electric Cars Travel Shorter Distance

According to Pligincars.com, Electric Cars travel about 150 – 300 miles when fully charged whereas some gasoline cars can travel up to 400 miles at one full tank. However, electric cars manufacturers are making technological advancements so that EVs can travel more distance.

Con: It Takes Time to Recharge the Battery

For a gasoline car, it takes about 5 minutes to fill the tanks. EVs take a significant amount of time to recharge their batteries. According to pod-point.com, the time taken to fully charge the battery of an electric vehicle is as little as 30 minutes and can vary up to 12 hours.

The charging time depends on the size of battery and the speed of charging. Newer and more expensive models can be fully charged with in 4 hours. But this number is still very high. PHEVs battery can be charged by an internal mechanism, so they are more reliable than AEVs.

So, before taking any quality decision do keep these points in mind.