Opting for an electric vehicle has many benefits, from reduced air pollution and oil consumption, to lower costs of ownership. Furthermore, they’re much more energy-efficient than their traditional counterparts, converting over 77% of electrical energy directly into driving force for your wheels.
Luxury electric cars boast cutting-edge features and impressive performance capabilities, such as those found on Rivian R1S and Kia EV9.
Cost
Though electric vehicles remain more costly than their gasoline-powered counterparts, the gap is closing rapidly. Experts anticipate EVs will reach price parity with conventional cars within several years depending on model availability and battery technology advancements. Plus there are various federal, state and utility incentives to reduce upfront costs for an EV purchase, making replacing an EV usually cheaper than replacing engine-powered counterparts.
Operating an EV depends on both your charging habits and local electricity costs, but generally speaking recharging one costs significantly less than filling up with gas; and batteries tend to be far more reliable than combustion-engine counterparts; additionally replacing its battery pack can often be less costly than doing the same for an engine; in most cases manufacturer warranties cover up to six-figure mileage on these types of batteries.
Range
Electric vehicles boast impressive mileage figures and can drive further than many people imagine, thanks to higher energy densities of battery packs and lower costs; plus an increasing availability of recharging stations.
Consider how often and far you travel each day when considering whether an electric vehicle (EV) would suit you. Charge points must also be available when not driving the car to ensure maximum range is possible over time. Furthermore, take battery degradation into account when making this evaluation when planning long trips and considering an EV purchase decision.
Consumer Reports conducts road tests similar to fuel-burning vehicles to compare electric vehicle’s real driving range against their window sticker EPA estimates. But unlike lab testing, this one involves highway speeds as high-speed highway driving is where range matters the most as aerodynamic drag increases with speed while there is no opportunity to recapture braking energy as with traditional vehicles when slowing down.
Reliability
Even as electric vehicles gain in popularity, some individuals express reservations regarding their reliability. One key concern lies with new technology used by these cars which may be more susceptible to glitches and bugs than older gasoline models.
Consumer Reports recently conducted a report which demonstrated that electric vehicles actually possess higher reliability ratings than traditional vehicles, noting that most issues experienced by owners involved technologies like infotainment systems and reverse cameras, rather than with the drivetrain or battery systems.
Plus, most mechanical issues can usually be remedied quickly with just a reboot or over-the-air software update, making EVs ideal for busy families with little time for maintenance visits to a shop. Furthermore, their batteries are strategically positioned within their vehicles for improved weight distribution and reduced risks of rollover.
Convenience
Convenience is one of the main draws to owning electric vehicles. Most owners charge theirs overnight at home, waking up with fully charged batteries and saving money by not needing gas refills. But for those without off-street parking or who simply can’t afford home charging stations, public EV charging networks offer invaluable assistance.
At work, in shopping malls or at restaurants drivers can count on public charging stations to reduce range anxiety and make road trips easy. Fast “level 3” charging stations allow vehicles to be recharged up to 80% in 30 minutes making them suitable for quick meal stops or quick errands during longer trips.
Implementing electric vehicle chargers into convenience store businesses can provide them with an opportunity to expand and diversify their offerings. NACS’ EV Charging Calculator helps retailers understand utility costs as well as potential ancillary in-store sales that could come from adding an EV charger site. This calculator also allows them to assess whether an installation would be affordable and profitable.