With the introduction of the Roadster in 2008, Tesla set a high bar. Fast forward to 2022, and the race to create the most daring, longest-range, and most desired electric vehicle (EV) is igniting the automotive industry like never before.
With world leaders pushing for lower or zero net emissions in the next 20 years, manufacturers are scrambling to find alternatives to the traditional internal combustion engine. Today, everyone from Audi to Volkswagen is upping the ante with their latest all-electric models, which are proving to be the “next big thing” by exceeding all expectations.
EVs are popular: in the United Kingdom, one out of every five new cars sold is an electric vehicle. So, what’s all the hullabaloo about? Here are six essential facts about electric vehicles:
What is an electric vehicle (EV)?
Unlike an internal combustion engine (ICE), which relies on a spark (when the ignition is turned on) to ignite the compressed mixture and start the pistons and motor, an electric vehicle (EV) relies solely on its electric motor and battery to get going.
When it comes to an electric vehicle, fuel pumps, dipsticks, and the like are all alien concepts. Electric vehicles, on the other hand, rely solely on electricity as a source of “fuel.” There are a variety of electric vehicles (EVs) on the market right now, ranging from all-electric to hybrids that use a combination of fossil fuel and electricity to operate.
For a long time, Tesla has been the undisputed EV champion, but the VW ID.3, Ford Mustang Mach-E, Jaguar i-Pace, and Hyundai Kona Electric are among the field’s top contenders.
The motoring industry is preparing for an all-electric market as the UK prepares to ban all new petrol and diesel sales by 2030. However, the most important factor to consider is which type of electric vehicle to purchase.
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What’s in an electric vehicle (EV) battery?
Regardless of which electric vehicle you own, it’s likely that it’s powered by a lithium-ion battery. Lithium or li-ion batteries are used to store energy and are made up of a series of components including lithium, aluminium, cobalt, and nickel.
They have the traditional anode and cathode configuration of a traditional battery, with electrolytes in between. When the anode and cathode are connected in a complete circuit, the lithium stored in the anode and cathode flows as ions, either using the battery’s energy or charging it up using regenerative braking.
Li-ions, like any other battery, have different power ranges, which are reflected in the amount of range the car can travel before needing to be recharged.
You can charge your electric vehicle at home
Forget about long lines at the gas station. While electricity costs are at their lowest, park your EV, plug it in, and charge it overnight!
When gas prices are at an all-time high, EV owners can save up to two-thirds or more on “filling up” their vehicle than their petrol and diesel counterparts. A full charge on a 7kW pack takes five to ten hours, but charging your EV overnight is no different than charging your phone.
You can even apply for a £350 government grant to help pay for the installation of an at-home charging station. To see if you are eligible, go to their website.
How much does an electric vehicle cost?
There’s probably never been a better time to buy an electric vehicle. Manufacturers have stepped up their game, and dealers now have more options than ever before. Yes, electric vehicles are more expensive to buy than their gasoline and diesel counterparts, but the benefits far outweigh the costs!
With an EV, you can expect:
- Lower running costs
- Zero road tax to pay on pure electric vehicles
- Lower maintenance costs
- Other tax exemptions such as London’s ULEZ and Clean Air Zone (CAZ) fees
- Less impact on the environment
EVs, like all car models, have a wide range of prices. When combined with the government-funded Plug-in Grant (up to £1,500 if eligible), the cheapest EVs in the UK start at less than £20,000. What’s the catch? For this price, you may have to lease the batteries separately. However, if you spend more than £25,000, batteries are usually included.
But why pay for it yourself? Why not finance your EV like you did your car? Car finance is by far the most popular way to buy any type of vehicle in the UK, so why not do the same for your EV?
There are a variety of car finance options available, ranging from hire purchase and personal contract purchase to leasing and personal loans, all of which can accommodate your new or used EV requirements. Customers with a poor or limited credit history can apply for bad credit car financing through specialised companies.
Range anxiety is no longer a problem!
A decade ago, the range of electric vehicles was a major concern for drivers. People were put off by the prospect of only being able to make it to their nearest city and back with only a few hours of battery life left.
EV ranges today range from 168 to 500 miles on a single charge. Worrying about your battery running out is a thing of the past, with thousands of public charging points available at your local supermarket, train station, car park, and dotted along every major road in the UK.
Savings on taxes
For the average motorist, the annual flat rate for road tax is currently £155. With only a £10 discount for slightly less polluting vehicles, hybrids, mild hybrids, and plug-in hybrids can’t completely avoid the bullet. Pure electric vehicles, on the other hand, are exempt from paying any road tax!
Other cost-cutting options include:
- Commuters and residents alike must pay £12.50 per day if their vehicle does not meet the strict emission rules in place in London’s ULEZ zone.
- Charge for the Clean Air Zone (CAZ): Motorists driving a high-emission vehicle are now charged an £8 fee in some of the UK’s largest cities, including Birmingham, Portsmouth, and Bristol.
Electric vehicles aren’t just trendy. They’re transforming the way we drive and think about the environment. But, more importantly, making the switch to all-electric saves motorists hundreds of pounds per year.
Learn more from technology and read The Future of Electric Vehicles at CES.
