Let’s hold aside for a moment the now indisputable fact that Electric Vehicles are better for the planet and better for the health of our human bodies. And let’s steer clear of spending time busting the myths to the contrary, that are still being perpetuated by climate change deniers. Instead let’s look at why EVs will revolutionize the world of transportation --- features and money!
History has shown us again and again that any innovation that unequivocally improves on the features of its predecessors will take market share far more quickly than the old guard predicts, after cost parity has been established. EVs are rapidly advancing down this innovation adoption path.
FEATURES ARE SIMPLY BETTER:
If you take a test drive in just about any EV being offered today, you will not get out of that car with any doubt lingering that EVs offer a better driving experience to ICE (internal combustion engine) cars. Don’t take my word for it, go test drive a Nissan Leaf, or a Chevy Bolt, or a Tesla sedan or SUV, or any other EV that is in the same class as the ICE car you are currently driving.
You won’t be able to help but conclude that the smooth acceleration, which is the result of electric motors generating torque linearly without the need for a transmission, is simply better and more fun. And if you happen to be a car fanatic who loves powerful acceleration, you will also love the complete lack of torque steering.
No noise, no vibrations, just continuous power delivered in a straight line, like you are sitting on some kind of futuristic space craft while starring in a sci-fi thriller.
COST ADVANTAGE IS NEAR:
It is true that EVs are currently more expensive than similar ICE cars from a “purchase cost” perspective, though it is already becoming untrue from a total cost of ownership perspective. I am an engineer and an overly analytical type by nature. After we test drove EVs and experienced what was clearly a revolutionary new driving experience, I turned to doing my own rudimentary financial analysis before buying.
I concluded that over a 6-year ownership period, EV operating costs would be over $20,000 lower in the luxury sedan class, and over $8,000 lower in the economy compact class. These savings come from: gas vs electricity cost; lower brake system cost, due to the use of regenerative braking (pads, rotors, and calipers all last far longer); and lower general maintenance costs, due to far fewer wearing parts (oil and filter changes, radiator coolant, exhaust system, spark plugs, timing belt, alternator, and more). Look up online how ICE cars and EVs differ in the number of moving parts that each has, and I think you will quickly start to smell cost-savings. And these savings become more significant if you plan to own a car for more than 6 years, since the wearing parts of gas cars really start to trigger large maintenance bills as they reach 7-10 years of age.
EVs are already close to cost parity today, even if you don’t put any value on the environment and your health, or any value on your own personal time, or any value on improved safety (large battery packs in the floor of car lead to an indisputable safety advantage), or any value on teaching your kids about how we can take action to reduce climate change. And soon EVs will offer far better than cost parity, as battery technology rapidly continues down its steeply sloped cost curve.
My simple analysis leads to a conclusion that I believe is hard to refute…
MONEY DRIVES ALL, AND IT WILL DRIVE THE NATURAL EVOLUTION TO EVs TOO!