What’s It Like Owning an EV?

Owning an EV brings you an entirely new way of driving. These vehicles are quiet, smooth, and typically filled with advanced technology.

Not everyone expresses the desire to move away from traditional ICE vehicles to EVs, but some have taken the plunge and aren’t looking back. As more electric vehicles begin to replace traditional gas-powered vehicles, you’ll likely be juggling the decision of whether it’s time to get an EV or stick to another gas-powered vehicle in the future.

Let’s consider some pros and cons of owning an EV to help you make the best decision.

Pro: EVs are much better for the environment

The arguments against mining and production operations to build EV batteries have been put behind us. Once an EV hits the road, it only takes two years for this vehicle to be more environmentally friendly than a gas-powered vehicle. From that point on, every EV is better for the environment. Additionally, EVs are zero-emission vehicles, which means they don’t put harmful chemicals into the air. As automakers learn how to recycle and reuse EV batteries, the figures will only get better.

Con: The newness of EVs creates an initial market price spike

When the first VCR hit the market, it cost nearly $1,000. Today, very few homes still have VCRs or tapes. The same is often true of any tech-based item, including electric vehicles. Until the market is much more saturated with EVs, one of the negatives of owning an EV is the high initial cost. Even the $7,500 Federal EV Tax Credit can’t offset the much higher price EV owners are paying for these new vehicles.

Pro: Maintenance costs and frequency are much lower

Internal combustion engines require several fluids and regular maintenance to operate efficiently; the same isn’t true of electric vehicles. EVs use electric motors attached directly to the wheels or axles to run smoother, quieter, and without using as many moving parts. Fewer moving parts means lower maintenance costs and needs. This means you won’t need to schedule a maintenance appointment every 5,000 miles when you drive an electric vehicle. The only offset of this is the added electronics found in most modern EVs, which could require software upgrades. Still, these software upgrades can be accomplished using over-the-air systems.

Con: Fewer charging stations than gas pumps

Why has the infrastructure growth for EVs been so slow? Most automakers expect EV owners to charge their vehicles at home while sleeping. This is one of the benefits of owning an EV, but it’s also one of the negatives. Electric vehicles require much more time to refuel than gas or diesel-powered vehicles. As more EVs flood the market, more charging stations are required. This could be a problem unless chargers are built quickly. Tesla superchargers are now open to other automakers, but this is a band-aid fix at best.

Pro: Home charging makes a lot of sense

Although most EVs aren’t great for long road trips unless you’re willing to be patient and wait for the charging to complete before moving on. Most drivers stay close to home when driving, which makes at-home charging much more attractive than filling up at a gas station. This activity is also much cheaper than filling a tank of gas or diesel. Typically, most EVs are charged at night, which means low, off-peak rates.

Con: Battery replacement is expensive

Some ICE engines last 20 or 30 years when properly maintained, but EV batteries have a limited lifespan, regardless of care. Most automakers offer a long warranty on the battery but non cover them for up to 200,000 miles, which is when most EV batteries could be spent. Replacing these batteries can cost up to $10,000, which is certainly cost-prohibitive. This cost makes it difficult to sell EVs in the used vehicle market because the next owner will face this cost.

Should you drive an EV?

When considering the pros and cons of owning an EV, these are only a few for you. Here are a few more to consider before taking the plunge.

• Pro: Budgeting transportation costs is easier for EV owners
• Con: Towing dramatically decreases EV range
• Pro: EV manufacturing creates new jobs
• Con: EVs can catch fire when submerged

Eventually, EVs will take the place of ICE vehicles, and nearly everyone will drive them. The negative side of electric vehicles is that most automakers are focused on ensuring these vehicles are useful, easy to drive, and convenient. Which EV will be the first one you drive?