Electric Cars

What is an electric car?

Let's start with the basics. An electric car is an automobile that is propelled by one or more electric motors using energy stored in rechargeable batteries. How does an electric car differ from a gasoline car, you might ask. Appearance-wise, electric cars look practically identical to their gasoline counterparts with the exception that there is no exhaust pipe for the simple reason that there is no exhaust. Instead of a gas tank, you’ll see an electric motor which supplies the automobile with the energy it needs to move. Also present is a controller which regulated the amount of power received so that the motor does not burn out. The breaks, air conditioning, and airbags function in the exact same way as in a gasoline-powered car.

Current scenario

Interestingly enough, electric cars first appeared on the scene in the mid 19th century and the vehicular land speed record was held by an electric car until around the beginning of the 20th century. However, the high cost, low top speed and the low range of electric cars and the emergence of internal combustion engines caused people to switch to gasoline-powered vehicles which were cheaper and easier to refuel at regular intervals. While the setting has changed dramatically in many respects, some of the factors that were seen as impediments to owning an electric vehicle a hundred years ago continue to be seen as impediments in today’s day and age. People often cite high cost, low range and the dearth of charging stations as reasons not to own electric cars. The good news is that the cost of electric cars has been falling rapidly in recent years with the year 2022 forecasted to be a crossover point - the point where electric cars become cheaper than gasoline-driven cars - according to the latest Bloomberg New Energy Finance analysis which analyses the cost of purchasing an electric vehicle and then compares it to a gasoline-powered car of similar dimensions. The reason for this significant fall in price is the increasingly less expensive electric car batteries, which, in 2015, made up more than 50% of the overall cost of the car, presently it is 33% and is expected to make up around 20% of the overall cost of the car in 2026. This can be seen in the graph below, taken fro Bloomberg NEF.

As a consequence, electric cars are becoming more and more prevalent. In Norway, for example, more than 50% of all new cars sold are electric. Large automobile companies such as Volvo, Volkswagen, and Daimler have planned to put out a host of electric car models in the next 5 years.

Comparison with combustion engine cars

Now, as a user of traditional gasoline-powered automobiles, you might wonder how they stack up against electric cars. As with most things, electric cars have advantages and disadvantages when compared with gasoline cars. The biggest and most obvious benefit to using electric cars is the lack of harmful emissions and greenhouse gases, especially if the electricity used to charge the cars is produced from a renewable source of energy such as wind or hydro-energy. Then comes the question of efficiency; conventional gasoline vehicles only convert around 20% of the energy stored in the fuel, whereas electric motors have an efficiency of 85-90%. Charging an electric car is often significantly cheaper than filling a petrol tank. For a demonstration with actual figures, see https://www.carmagazine.co.uk/electric/how-much-ev-charging-and-running-cost/

There exists greater flexibility for those wishing to charge electric cars at home as this can be done via a home charging point. Charging the electric car, despite the flexibility that it brings with it, can be a disadvantage when travelling long stretches seeing as most countries do not yet have a wide network of charging stations in place. Another feature, which could in many ways be seen as an advantage, could come with its share of hazards. Electric cars emit nearly no noise. While not contributing to noise pollution, they might pose a greater threat to pedestrians who rely on hearing oncoming cars. Electric cars tend to be more expensive in terms of upfront cost because the manufacturer cannot fully recover the cost of discarded parts and new parts are expensive.

Who should consider buying electric cars?

As pointed out, in the near future, purchasing electric cars will most likely not be a luxury reserved for the wealthy. That said, for the present day, electric cars are best suited to those who possess at least one other gasoline-powered car as an option for long-distance drives while the electric car could be used in the city. Alternatively, in countries such as Norway which already have a well-established grid of charging stations, electric cars could be used to make long journeys as well and more versatile in their use. However, it is only a question of time before electric cars become more mainstream and affordable, making for a cleaner, less noisy planet in general.