Governments under pressure from Climate Change activists have drunk the electric vehicle (EV) ‘Kool Aid’ and forced traditional manufacturers to go electric with various mandatory year deadlines.
Early adopters such as Elon Musk’s Tesla Corporation have
benefited and the number of new EV vehicle manufacturers in China has skyrocketed:
currently at 43 independent companies and 18 state owned vehicle manufacturers.[i]
. Names such as BYD (Build Your Dream),
Cherry, Nio and Xpeng and their vehicles have hit the European market and BYD
is now the world leader in EV sales.[ii]
The constantly repeated hype that EVs are far cheaper to
operate as electricity prices are lower than gas prices, and there is no need
for oil changes every 8,000 km or 6
months, etc. simply does not hold up when tested by experts.
A recent study published in the journal of Environmental
Research Infrastructure and Sustainability looked at the total cost comparing an EV
vs ICV version of the same car model: a Hyundai Kona EV versus a
Kona gasoline edition.[iii]
Over the common 7 years ownership cycle, they found
most EV buyers ended up spending far more on their EV.
The study took into account current local/provincial subsidies
for EV purchases, local electricity and gas prices and other normal factors
such as Insurance costs (far higher for EVs), tire replacement frequency and
costs (far higher for EVs), etc.
The study concluded that in each area of Canada, an EV
would have to be driven many additional kms a day to match the costs of
an ICV (internal combustion vehicle)– far more than what is the local norm.
In western Canada, the break-even figure is 96 km a
day and in Eastern Canada 88 km a day.
So, if you drive 200 days a year that break even
pointy is 24,000 km for western Canada and 17,600 km for eastern Canada.
For city drivers, such ‘goals’ are way beyond reality.
And the studies comparison chart by province and
territory instantly makes this clear.
The ‘positive’ spin that the EV’s cost numbers would
be better if the vehicle is held for 10 years, is simply foolishness.
The engines in modern gas powered vehicles can easily last
at full power for 150,000 miles (over 240,000 km) to 200,000 miles (over
320,000 km).[iv]
But most current model EVs lose some 2.3% of battery power each year[v] .
Now this is far better than earlier EVs without
Thermal Management technology, where battery deterioration could be as high as
4.2% annually (i.e., Nissan Leaf).
But as with all batteries, time (age) and temperature
extremes (of heat or cold) all weaken batteries from those in flashlights to cellphones
to EVs.
Recharge times increase and the ability to ‘hold
a charge’ drops.
So the idea of holding on to one’s EV for 10 years is
a non-starter and foolishness.
Maybe that is why resale values of EVs – in part due
to rapid technological changes – depreciate rapidly.
For example, Tesla’s drop 50% in value at 5 years.[vi]
Put simply, ICVs still make the most economical sense.
They are still the best value for your dollar!
PS: The ‘Kool
Aid’ reference is to a mass suicide by over 900 followers of the cult leader, Jim
Jones, in November 1978 -- now referred to as the Jonestown Massacre.[vii]
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