Electric Vehicles (EV's) and the future
EV's we are told are the future, sadly thats not the whole story. A replacement battery for an electric vehicle can cost between £5,000 to £45,000 depending on the vehicle make and model.
It's true that battery prices will fall in the years to come, but they are always going to be costly.
So what about the value of a second hand electric car? A second hand Tesla thats had a replacement battery will be worth much more than the same vehicle that hasn't had a replacement battery.
Owning an electric vehicle is one thing, trying to sell an 8 year old Tesla that still has its first battery
(Life expectancy 10 years) will be almost impossible unless the selling price reflects the fact that it will need a replacement battery soon. So the money you have saved in running costs has vanished because your car is worthless if it still has the original battery.
Nobody talks about this, EV's are not all they are cracked up to be. unless the cost of a replacement battery drastically drops in the next few years they are not a good buy. There are many EV's on the road and increasing by the day, but the infer-structure is not there. I was in a Motorway Services recently and watched people queuing for an empty charging bay, an hour plus queue (can't go for a coffee or you loose your place) and a half hour plus charge time, can't beat 5 minutes at the petrol pump. It's fine if you have a driveway and only charge your vehicle at home and don't venture too far away. If you live in a terrace house or a block of flats with no driveway how do you charge your car?
Insurance premiums are also very high for EV's, the reason, the floor of an electric vehicle is 95% battery, if you are hit by another vehicle the battery could be damaged and a new one might be needed, add the cost of the body damage and you can see why insurance companies have jacked up their prices for EV's.
When the revenue the government gets from petrol and diesel starts to dry up the'll think of a way to cover their loses and it will come from your pocket.
Suddenly EV"s are not such a good idea, in the future maybe, now NO!