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You’ve probably heard the saying, “If something is too good to be true, it probably is.” While we wouldn’t necessarily attribute this to electric cars, because there’s a lot to be surprised about in these vehicles, they still have some teething problems. We’ll take an unbiased look at the pros and cons of the first generation of electric vehicles (EVs) coming to a road near you.
PRO: Electric vehicles are good for the environment.
With the global community pushing to reduce the use of fossil fuels to dramatically slow global warming, and the US government trying to ensure that half of all vehicles sold in the country by 2030 are electric, it is likely sales of electric vehicles are increasing. As they reduce emissions and present a more energy-efficient way to get around, this is good news. Light electric vehicles can drive 100 miles while consuming only 25 to 40 kilowatt-hours (kWh) of electricity, which equates to 43 miles per $1. Gasoline cars travel about 10 miles for the same price, assuming gas costs $2.50 per gallon.
RELATED: How to Prepare Your Home for an Electric Car
CONS: Electric vehicles have a high initial cost.
Although electric vehicle owners save on gas costs, they still have a high initial investment. Remember when plasma TVs first hit the market with a price tag of $7,000? Many potential EV buyers are put off by the shock of investing in one due to the higher price and additional expenses. Although there are government incentives, until the advertised price comes down and a more robust second-hand EV market emerges, expect many buyers to keep their internal combustion vehicles longer or buy a hybrid car instead a battery EV.
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PRO: Electric vehicles have low maintenance and a better driving experience.
Unlike internal combustion cars, electric vehicles do not require oil changes or ongoing engine maintenance. Electric vehicles run quietly and the driving experience is smoother, with electric vehicles able to accelerate faster than petrol vehicles. Running electrical devices in the car will minimally drain the electric vehicle’s battery, which is the case with any car. However, the EV can investigate and report on this use, unlike a conventional car, where the driver only knows the battery died after the car won’t start.
CONS: Lack of infrastructure can limit or spoil the experience.
While efforts are underway to increase EV infrastructure with more accessible charging facilities, there are currently none, leading to a range of anxiety and apprehension about purchasing EVs. The problem is of particular concern to people who live in older apartment buildings without easily accessible charging facilities, and those who live in outlying areas or drive long distances.
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PRO: Electric vehicles tend to have a higher resale value.
As the world moves away from internal combustion engine vehicles and the EV infrastructure grows, expect some EVs to have a higher resale value than certain gas cars, or at least hold their own. Advances in electric vehicle technology and better battery storage will make electric vehicles even more cost-effective, especially if fuel prices remain high, which will further increase demand for second-hand electric vehicles.
However, it will take time for this trend to fully catch on, as production slows or ends on some old favorite gas models, which could temporarily increase demand for them, and as infrastructure and the costs of electric vehicles stabilize.
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CONS: The cost of replacing an electric vehicle battery is prohibitive.
Although EV batteries can cost $2,000 to $10,000 (and more) to replace, as opposed to $350 for a battery in a gas car, EV batteries have a much longer lifespan long, about 200,000 miles or 10 years for those who drive 20,000 miles per year, than the batteries in gas-powered vehicles. Still, spending $10,000 every 10 years (or $1,000 a year) will give many potential EV drivers pause before buying.
The good news is that, in some situations, an electric vehicle battery can be replaced for free. A manufacturer’s warranty is usually 8 years and 100,000 miles, so under these conditions there should be no cost to replace the battery. However, if you want to sell your car before the warranty runs out, the cost of a new battery will need to be factored into the selling price.
PRO: Charging at home means you don’t have to visit a gas station.
Charging at home means drivers no longer have to go to the gas station to fill up. Charging a car overnight during off-peak grid use prepares an EV for a full day’s driving the next morning.
While comparisons between filling up a gas tank and charging an electric vehicle battery vary by region and with fluctuations in energy prices, it typically costs less per month to charge an electric vehicle at home than it does to buy gasoline. Using solar panels to charge an electric vehicle at home (with home battery storage) will further reduce the cost.
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CONS: It takes longer to charge an EV than it does to fill a gas tank.
Charging technology is in its infancy. Currently, DC fast charging facilities still take at least 20 minutes to charge a car, which is considerably longer than it takes to fill up a vehicle with gasoline. Level 2 home chargers take 4-10 hours and a house must be rewired to accommodate them.
As autonomous and super-fast charging techniques are perfected, expect the time to drop to less than 10 minutes, as the driver no longer has to leave the vehicle. These chargers are also better able to withstand colder temperatures than other chargers. When they become commonplace, expect the adoption of electric cars to advance by leaps and bounds.
RELATED: The Best EV Charger Installers
PRO: Easier to budget for EV transportation costs.
Although electricity prices can fluctuate, they are generally easier to predict based on standard usage. Increased electric vehicle ownership will help the global community become less dependent on oil-producing nations like Saudi Arabia and Russia, with whom the United States has significant political differences. As a result, American households can budget their transportation costs more effectively, without fear of sudden price hikes. Middle Eastern countries are now trying to turn to mining lithium and other minerals essential for electric car batteries to make up for the loss of oil revenue.
CONS: Towing depletes range.
If you have an EV truck, you may want to call a tow truck instead of hitching another vehicle to it. EV trucks like the Ford F-150 Lightning and Rivian R1T can tow 10,000 to 11,000 pounds, respectively. However, towing to full capacity can cut an electric truck’s driving range in half, meaning more frequent charging will be required.
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PRO: Electric vehicle manufacturing offers new job opportunities.
Large-scale electric vehicle production will bring job opportunities to the U.S. In late 2021, Ford and partner companies announced plans for three electric vehicle and battery plants in Kentucky and Tennessee, investing more than $10 billion and creating more than 10,000 jobs. As EV technology and infrastructure demands increase, expect the domestic labor market to reap the benefits.
The Department of Transport has also launched initiatives to support the domestic electric vehicle industry with a focus on lithium battery manufacturing.
VERSUS: Electric vehicles can catch fire if submerged in salt water.
Most electric vehicle drivers don’t anticipate their cars being underwater, but that was the case for many victims of Hurricane Ian in Florida. As if the water damage wasn’t bad enough, the horror was compounded when the owners’ dry electric cars caught fire. There have been several incidents of previously flooded electric vehicles turning on without warning. The National Highway Traffic Safety Administration (NHTSA) has warned that electric vehicles can ignite weeks after contact with salt water. According to the rescuers, the fire is due to a chain reaction between the engine salt and the batteries.
