The end of petrol/diesel is near. The 2030 deadline for the ban on new petrol and diesel vehicles has been extended to 2030. No new hybrid cars will be sold after 2035.
While electric cars are still more costly to make than traditional ICEs (which they are), there are generous government grants available to assist you in making the switch.
If electric cars are inevitable, then should you wait or buy one now? This article will help you make a decision. We’ll cover everything, from charging costs and convenience to the current electric car range.
For electric car news, visit EV Motors Live.
Environmental Benefits
Is electric driving better for the environment? Overall, yes.
EVs do not have tailpipes, which means that they emit no tailpipe gases. We could drastically reduce air pollution in urban areas if everyone drove an electric car.
Although electric cars are sometimes called “zero emission vehicles”, this is misleading.
It is clear that an electric vehicle’s lifetime emissions are much lower than an internal combustion engine (ICE). EVs don’t require petrol or diesel to be produced and distributed, so they produce much less “well-to tank” and upstream emissions.
Depending on where the electricity is generated, EVs can be considered environmentally friendly. 42% of the UK’s energy mix was generated from fossil fuels last year.
Driving an electric vehicle is even more beneficial in countries such as Norway, where nearly all the electricity generated within their borders comes from hydropower or other renewables.
EVs, in other words, are already a good choice for eco-conscious individuals. However, their value will increase as the UK strives to reach its net zero goal.
Because potential EV owners are concerned about their environment, EV manufacturers tend to use sustainable materials and manufacturing processes.
Many of Tesla’s batteries are produced at a Nevada solar-powered gigafactory. Many of the cars are now completely leather-free.
Legal requirements
In 2030, the ban on new petrol and diesel cars will be in effect. Sales of new hybrids are expected to continue until 2035. This means that you will not be legally required to buy an EV. However, there are other laws you might want to remember.
Many cities in the UK have created Ultra Low Emission Zones (LEZ/ULEZ) to help reduce carbon emissions and clean up the air.
You will have to pay PS12.50 each time you visit the ULEZ if your vehicle does not meet the ULEZ standards regarding CO2 emissions. This applies to all vehicles over 3.5 tonnes and to heavier vehicles like buses, coaches, and lorries.
The ULEZ will expand from central London to the North Circular Road and South Circular Roads (A406) starting 25 October 2021.
Local councils are increasingly imposing parking restrictions for petrol and diesel vehicles. Lancashire has made it illegal for a petrol or diesel vehicle to be parked in any parking space that is adjacent to its on-street electric vehicle charging station. This is commonly known as “ICEing” and could result in a substantial fine. In the months and years ahead, it is likely that other UK countries will follow this lead.
Prices
Are EVs more expensive or less than petrol and diesel cars? This is a question that will make many potential buyers scratch their heads.
Direct Line research suggests that you can save a small amount over the vehicle’s 14-year lifespan. However, most people don’t intend to own or lease a vehicle for that much time.
LV offers a nuanced view of the savings that can be made on 9 different EVs depending on whether you lease, buy, or take a PCP deal – and it’s a mixed bag.
What are the extra costs and savings? Is it worth taking the chance?
Purchase
EVs are significantly more expensive to make than ICE cars. This is due to the high cost of batteries.
This could change if the price of producing a lithium-ion battery hits the $100/kWh mark. According to IHS Markit, this would make EVs comparable to petrol and diesel cars by 2023. This would translate to a price drop of 86% in a decade, or $580/kWh.
The price could be reduced to $73/kWh in 2030 by new manufacturing processes and economies-of-scale.
Although EVs are not yet able to compete against petrol and diesel cars in retail price (and this is before we take into account the cost of installing wallboxes), grants from the Government for electric cars can help ease the blow. The Plug in Car Grant (PiGC), which offers a discount on either the purchase or lease of an EV as well as vouchers for the installation of charging points at your home, is one example.
Servicing
EVs may be more expensive than diesel or petrol cars, which might make consumers believe they are more complicated. It is impossible to be more wrong.
A Tesla Model 3’s drivetrain has only 17 moving parts. A typical ICE’s drivetrain has more than 200 moving parts. It is possible to replace expensive parts like cambelts and oil filters in electric cars.
There will be times when you need to change tires, windscreen wipers, or brake pads. These will often add to your service fee.
Unlike petrol and diesel cars, EVs have some type of regenerative braking. This uses an electric motor rather than friction brakes to slow down the vehicle and also put electricity back into its battery.
Regenerative braking is a method that reduces wear on brakes. Most EVs have the ability to adjust the strength of regenerative braking. This will result in less frequent replacements, which will save you money over the long-term.
Summary: Electric car servicing and other maintenance costs are much lower than those for petrol and diesel cars.