Electric vehicles are heavily touted as a large part of the future of driving, and with more EV charging stations being built all over the world, accessibility of this category of car is more widespread than ever. A driver can save thousands of dollars every year driving an EV in fuel and maintenance. In addition, the rebates governments have put together to help make the upfront cost of buying or leasing an EV as attractive as ever.
Here are the key benefits of EVs to know if you are considering purchasing.
EV Benefit #1: No more being beholden to rising gas prices.
EV fuel costs are much more predictable than gas prices, which have risen substantially in the post-pandemic era. Commercial EV chargers are becoming more affordable, lowering costs for drivers.
EV Benefit #2: You can charge your EV at home every night.
It’s easy to charge your electric vehicle. Just plug it in every night when you park it. Let it sit and charge overnight. By morning, if you’re using at least a Level 2 EV charger, you’re back to a full charge. There is no need to locate public EV charging stations or be caught somewhere on a low charge.
EV Benefit #3: Public EV Charging Stations Are Everywhere
More EV charging stations are being built every day. They can be found at workplaces, gas stations, shopping malls, and commercial hubs. While they are not quite as widely spread as gas stations, the number of charging stations is on the way up and, certainly, in any major city, there are spots to go and charge your vehicle while you’re not at home.
EV Benefit #4: Save thousands every year on fuel costs.
A car with an internal combustion engine requiring gas fuel can take up to $2,000 and rise to fuel annually in Canada. A battery-only electric vehicle costs approximately $500 compared to fuel with electricity. There are significant savings to be had.
EV Benefit #5: EV performance is sometimes better than gas-powered.
Electric vehicles have progressed a lot in the past twenty years. Today, they offer just as good or better performance than gas-powered vehicles. For example, EVs have quicker acceleration than gas cars due to the instant power generated by their electric motor.
EV Benefit #6: Electric vehicles can travel far on a full charge.
A fully electric EV can travel up to 400 km and sometimes more on a full charge. The average driver who charges their vehicle overnight always pulls out of their driveway in the morning on a full charge and doesn’t have to worry about running out of charge.
EV Benefit #7: Reduce your environmental footprint and CO2 emissions.
When the average driver switches to an EV, their CO2 emissions are reduced by approximately 80%. This reduces the contribution one’s vehicle makes to climate change and reduces smog-related health issues.
EV Benefit #8: There is almost no maintenance costs with EVs.
Electric vehicles do not need tune-ups or oil changes. There are no fluids that need replenishing, or that could leak and nothing that needs routine replacing. The regular yearly maintenance of a non-EV car is non-existent with an electric vehicle.
EV Benefit #9: EVs have an extended life cycle.
Gas vehicles have about 2,000 moving parts, whereas electric vehicles use only about 20. This means fewer parts and movement to take your energy source, less that could go wrong, and less wear-and-tear. Expect fewer unexpected costs and breakdowns over the lifespan of an EV than a gas vehicle.
EV Benefit #10: More new EV models become available every year.
There are more than 50 electric vehicle models for sale in Canada. More new models are being released every year, helping to drive down EV costs and ultimately helping to normalize them among the general population.
EV Benefit #11: Tax incentives and government programs for EV buyers.
If you buy an electric vehicle in Canada, federal and provincial incentives may offer you thousands of dollars in exchange for buying an EV. The federal government, for example, will provide up to $5,000 in point-of-sale incentives to EV buyers. BC’s Go Electric Program is one of Canada’s best provincial electric vehicle initiatives, offering an additional maximum of $4,000 in rebates to purchase an electric vehicle.
EV Benefit #12: There are hybrid electric vehicles with gas engines.
An added benefit to the EV industry is plug-in hybrid electrics. They provide all-electric driving for a short period before a gas engine or generator kicks in for longer distances.
EV Benefit #13: EVs are quiet in design and have low sound levels.
Electric vehicles drive quietly compared to fuel-powered vehicles, reducing the sound levels that come with driving.
EV Benefit #14: EV battery warranties cover you for up to 8 years.
The exact lifespan of an electric vehicle battery varies, but multiple research studies suggest they last as long as 12-15 years in moderate climates. That said, to provide some peace of mind against early onset battery malfunctioning, many EV manufacturers offer extended warranties that come with the purchase of an electric vehicle, covering if there are any defaults in the battery, extending up to eight years or a maximum cap of 100,000 miles of driving.