The future of the automotive industry is on the cusp of a major change with the dawn of electric cars. The UK government are planning to heavily invest in EV battery research to make them the cheapest, most efficient and cleanest option available to drivers.
'Range Anxiety', which is the term associated with electric car drivers being fearful that their car will run out of charge, is already becoming a thing of the past. While some EVs can only achieve a range between 70 and 130 miles, there are some that can do 200 to 300 miles. Most car drivers will likely face a commute of less than 40 miles a day, meaning that even the shortest range will be enough to satisfy range requirements. In addition, there is an ever-expanding network of EV charging stations with even more rapid charging stations being installed.
There are a number of advantages associated with buying an electric car. Aside from the reduction in pollution, resulting in cleaner and more eco-friendly driving, electric cars offer huge financial gains.
When buying a new EV, the government are offering a grant of up to £5,000 to put towards your new electric car. On top of that, with the new road tax law introduced in April 2017, you will be driving the only category of car to pay £0 road tax (if your new car costs less than £40,000). You will also be entitled to a 100% discount on London's Congestion Charge which currently stands a £11.50 per day. London Mayor Sadiq Khan is also planning to introduce an Ultra Low Emission Zone as early as 2019 which will enforce further charges for high polluting vehicles.
The cost of charging an EV is much lower than fuelling a traditional combustion engine. It is estimated that it costs between 2p and 3p per mile for a full overnight charge (depending on your electricity tariff). In contrast, the average price of petrol in the UK is £1.14 and £1.20 for diesel per litre. You could save yourself hundreds of pounds every year.
If forecasts are to be believed, all new cars and vans are expected to be electrically powered by 2040 as the traditional combustion engine vehicles are phased out.