Concern for the environment is just one reason why people throughout Canada might consider switching to electric cars from cars that run on gasoline. The rising price of fuel is another factor that has caused people to seriously consider buying an electric vehicle (EV). Is an EV right for you? Below are several potential pros and cons to help you make the right decision for your family.
Benefits of Investing in Electric Cars
Since electric cars have no exhaust system, they do not produce emissions that contribute to pollution like cars do. A fully electric vehicle, as opposed to a hybrid between typical cars and electric cars, uses fewer greenhouse gases and can have a positive impact on air pollution. Here are some other pros to consider in addition to the reduced environmental impact of an EV:
- Some Canadian provinces have or are considering special highway lanes just for people driving an electric car. Drivers of an EV could use current high occupancy vehicle (HOV) traffic lanes even when driving alone.
- An EV runs on electricity, which is a renewable resource. The same is not true of gasoline used to power typical automobiles.
- You may be eligible for a tax credit for investing in an EV. According to Global News Canada, the Canadian government is offering a $5,000 credit for fully electric vehicles and $2,500 for hybrid plug-in models for 2021. To receive this credit, your EV purchase must be less than $45,000.
- Electric cars require less maintenance and fewer repairs than standard cars do. You won’t have to keep track of oil changes since EVs do not use oil. Electric engines are more durable than gas engines, and the braking systems of these vehicles typically last longer than brakes in standard cars as well.
- EVs run quieter than traditional vehicles due to not having an exhaust system.
The Canadian government encourages drivers to consider this option in response to environmental concerns and has prioritised giving people incentives to make the switch.
Potential Drawback of Electric Cars to Consider
If you have a long commute to work or just drive a lot of miles, it is important to consider the limitations of an EV. You can expect each charge to last approximately 95 to 160 kilometres before the car needs recharging. Depending on the fuel efficiency of a standard car, you can drive approximately 400 to 650 kilometres before you need to fill up with gasoline again. You will just need to plan your long drives accordingly should you decide to buy an EV. Here are some other factors to think about before making the commitment to electric cars:
- Although you will save money on gasoline, oil, maintenance, and repairs, you will spend more initially than you would for a standard car.
- Because electric cars are newer, you won’t have as many model options to choose from as you would with a typical vehicle.
- Recharging the battery of your EV can take up to 20 hours in older models or as few as four hours with newer models. Either way, it takes much longer to get back on the road than it would filling up your vehicle with fuel at the local gas station. Having a charging station at home can save time from driving to find one since they are not always easy to locate. This can make planning a long drive challenging.
For some people, the environmental benefits and novelty of driving an EV outweigh any potential drawbacks. Be sure to discuss the pros and cons with your family or anyone else whom buying an electric car would impact before following through with the purchase.
Models of Electric Cars Expected This Year
Car and Driver Magazine recently conducted a survey with car manufacturers to see which ones planned to release a new model of EV now or in the future. Below are some upcoming models EV manufacturers should release in 2021.
- Aspark Owl
- Audi e-Tron GT and Q4 e-Tron
- BMW i4
- Bollinger B1and B2
- Byton M-Byte Concept
- Ford F-150 Electric
- GMC Hummer
- Jaguar XJ Electric
- Lordstown Endurance
- Lotus Evija
- Lucid Air
- Mercedes-Benz EQA, EQC, and EQS
- Nissan Ariya
- Pininfarina Battista
- Porsche Taycan Cross Turismo
- Rivian RT1 and R1S
- Volvo XC40 Recharge
- Volkswagen ID
Manufacturers have models planned through 2025 as interest in electric cars continues to grow. You can also expect many RV upgrades in 2021.
Please contact Wayfarer Insurance Group for more information about the types of cars we insure and policies available.
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