The end of petrol/diesel cars is within sight. The 2030 ban on the sale new petrol or diesel cars has been moved forward. There will no more hybrid cars sold beyond 2035.
Even though electric cars are more expensive than traditional ICEs to produce, you can get generous Government grants to help make the switch.
However, if electric cars become more common, how do you decide whether to buy an electric vehicle now or wait. To help you make an informed decision, we will examine everything from the cost and ease of charging to current models to assist you.
Environmental Benefits
Are EV motors better for the planet? The answer is yes.
EVs have no tailpipes which means they don’t emit tailpipe emissions. The amount of urban air pollution could be significantly reduced if everyone drives an electric vehicle.
But, electric cars are often called ‘zero-emission vehicles’. This is a bit misleading.
The lifetime emissions of an electric car are far lower than that of an internal combustion engine (ICE). EVs emit less “well to-tank” emissions and upstream emissions than traditional internal combustion engines (ICE).
Depending on the source of electricity that powers them, EVs are not always environmentally friendly. 42% of UK’s energy mix in 2013 was generated using fossil fuels.
Driving an EV is more environmentally friendly than driving a car in Norway or other countries with high levels of electricity production from hydropower.
EVs are an excellent choice for those who care about the environment. They will only improve as the UK aims to achieve its net zero goal.
Recognizing that potential EV owner want to maximize their environmental impact, EV manufacturers often incorporate sustainable materials into their manufacturing processes.
Tesla makes many of its batteries in a Nevada-based solar-powered gigafactory. Tesla’s cars are almost entirely made without leather.
Legal Requirements
The ban on the sale new petrol or diesel cars will take effect in 2030. New hybrid sales are projected to continue until 2035. Even though this doesn’t mean you are legally allowed to purchase an EV you should still be aware of some laws.
Many cities have set up Ultra Low Emission Zones and Low Emission Zones (LEZ/ULEZ), in an effort to reduce their carbon footprint.
Your car must meet the ULEZ standards to reduce CO2 emissions. You will be charged PS12.50 per visit. This applies to vehicles up to 3.5 tons, and increases to PS100 for heavier vehicles, such as buses, coaches and lorries.
The ULEZ will be expanding from central London, up to the North Circular Road in A406 and South Circular Road in A205 starting 25 October 2021.
Increased restrictions are being imposed by local councils on the parking of petrol and diesel cars. Lancashire’s new rules make it illegal to park a petrol/diesel car in the spaces that are adjacent to the county’s electric vehicle charging stations. This practice, commonly called ‘ICEing’ or ‘parking in an electric vehicle charging station’, can result in significant fines. It is possible that other UK states will follow the example of the UK in the coming months or years.
Costs
Are EVs less expensive than diesel or petrol cars? Many potential buyers will be left scratching their heads about this question.
Direct Line’s recent research shows that there is a slight savings over a vehicle’s lifespan of 14 years. But many people don’t have the financial plans to keep a car for that long.
LV provides a more detailed look at the potential savings on 9 different EVs based on whether they are purchased, leased, or taken a PCP agreement – it is a mixed picture.
Where are the additional costs and savings, and is it worth taking the risk?
Purchase
EVs are more expensive than ICE vehicles to produce. A significant contributor is the high cost for batteries.
However, this could all change once the price for producing a lithium battery reaches $100/kWh. IHS Markit estimates that EVs will soon be priced at par with petrol and diesel cars, by 2023. For a ten-year period, this would mean a $580/kWh price reduction or 86% price decrease.
New manufacturing processes and economies could reduce the cost to $73/kWh by 2030.
Although electric cars may not be as competitive with petrol or diesel cars in terms of retail price (and that’s before we even consider the cost to install a wallbox), government grants for electric cars help to soften the blow. You can get a discount off the purchase of or lease price for an EV and vouchers to cover the cost of installing charging stations at home through the Plug in car Grant (PiGC).
Servicing
EVs can be thought to be more complex than petrol and diesel cars due to their high price. This is a false assumption.
The drivetrain for a Tesla Model 3 only has 17 moving parts. The typical ICE drivetrain, however, has over 200 moving parts. Some parts, such as cambelts and oil filters for electric cars can be quite expensive to replace.
It is possible to still replace tires, windscreen wipers and brake pads every now and again. This will normally be an additional charge.
Unlike diesel or petrol cars, EVs can use regenerative braking. This uses an electric motor to slow the EV down and put electricity back into it.
Regenerative braking, which most EVs offer, will reduce wear and tear on your brakes. They will also require less frequent replacements.
So, overall, the cost of electric car servicing, and other car maintenance, is very low compared to petrol or diesel cars.
Copyright – Classicalnet