There has been some general concern in the press regarding the residual values of electrical vehicles in around 3-5 years becoming very low, less than say the residual of a standard vehicle due to the longevity of battery cells, what’s your take on this?
“There is absolutely no denying that electrification is the future of driving and as a result of this, the industry has seen an exponential advancement in the technology involved in producing EVs in recent years. Manufacturers are wholly committed to pushing the boundaries of EV performance and capability and as such, there should be little reason to worry about the residual value dropping. In fact, as the motoring infrastructure moves more towards accommodating EVs and away from ICE vehicles, it is predicted that standard petrol and diesel cars will see a significant decline in residual value. On average an EV battery will decrease by a maximum of 2.3% capacity per year, giving an estimated lifespan of around 200,000 miles to most electric cars. In comparison, the average lifetime mileage of a standard ICE vehicle is just 133,000 miles.”
“Statistics show that after 3 years, an EV will retain 48.9% of it’s value whereas a petrol or diesel one will retain 40%. In addition to this, the batteries used to power EVs serve a sustainable purpose after leaving the car. Whilst they may no longer have enough oomph to power a car, they remain strong enough to be paired with solar energy and serve as a secondary source of energy for your home.”
One of the reasons people tend to hold off buying electrical vehicles is because they don’t want to be sat in a charging station every 150 miles, in your range of EV vehicles what is the furthest distance these vehicles can travel on one charge?
“Again, technology is advancing at a rate which means that ‘range anxiety’ is becoming much less of a concern for EV drivers. Range varies from model to model and brands are continually striving to increase this. As a rough guide, the Volkswagen ID-3 boasts acclaimed range of 336 miles. With the multi-award-winning Hyundai Ioniq 5 and Kia EV6 claiming 320 and 328 miles respectively. MG’s ZS EV can run for around 273 miles on a single charge and the Skoda Enyaq approximately 252.”
Where can people find charge Points in Plymouth and how much does it cost?
“Charging your electric vehicle in Plymouth is much easier than you might imagine. There are several Pay As You Go charging points operated by Swarco and Pod Point around the city. Most of these are 7kWh chargers but there are some 22kWh points too. Additional charge points can be found at most health care and Livewell sites. Plymouth is also taking part in the Clean Streets scheme, with pop up chargers being installed in several locations. Apps such as Zap Maps enables drivers to locate their nearest charge point around the city. Charging prices range from 25-30p per kWh although some may also require a connection fee, which is usually in the region of £1.”
What are the governments doing to increase charge points in the UK and what’s the time span?
“The government have pledged to install 300,000 charging points across the UK by 2030. They have set aside a £450 million fund to support Local Authorities in increasing their provision of EV charging points. Alongside this, there is an additional £950 million Rapid Charging fund to aid the aim to install 6,000 rapid chargers across the UK’s motorway network – which is 5 times the number of fuel pumps currently available in UK
How long does an average EV take to charge fully?
“Charging speeds are increasing all the time and depend on the charger you are using. For example, a VW E Up! Can charge to 80% capacity in around 4 hours using a standard 7kW charger. An MG ZS will take around 8 hours with a 7kWh charge point but is capable of charging to 80% in just 54 minutes, using a 50kWh charger. The steady introduction of public rapid chargers is revolutionising the speed of charging your EV with the Skoda Enyaq capable of charging to 80% in as little as 36 minutes. Similarly, the Ioniq 5 takes just 18 minutes to reach 80% capacity with a 350kWh charger and a mere 5 minutes of charge time will give you 100km range in the same vehicle. As a rule of thumb, you can calculate charging times with the following equation: Battery Size (kWh) / Charger Power (kw) = Charge Time”
Are there any government incentives to install charge points in a home or property?
“The government have recently replaced the EV Home Charge Scheme with the EV Charge Point Grant. This is available to all domestic properties and owners can claim up to 75% off (with a cap of £500 including VAT) total capital costs of charge point installation and costs.”
What are the Savings of running an EV?
“When taking into account differences in fuel, tax and insurance the cost of running an EV is falling whereas the cost of running an ICE vehicle is on the rise. On average, EV drivers can expect to run their vehicle for £579 less per year than if they were driving a standard combustion engine one.”
How Often do I need to service an EV and Where do I take it?
“Advice can vary from manufacturer to manufacturer, so it’s best practice to consult your owner’s manual to be certain. An electric vehicle has fewer moving parts, so in theory there is less to service and on average you can expect to have your EV serviced every 2 years as opposed to the traditional yearly intervals. It is always advisable to get your vehicle serviced at an authorised main dealer, who are fully equipped to address any
What’s the Lifespan of a new EV?
“Contrary to the popular belief that an electric battery will just ‘stop working’ at some point, similar to that of a smart phone, it will simply reduce in capacity over time. Once again, the exact lifespan depends on how you treat your vehicle but owners of a new EV can expect it to last for between 10 and 20 years currently.”
When are Manufacturers looking to change to just EV and what will the future hold?
“With the government pledge to stop the manufacture of new ICE vehicles by 2030, most brands have set their own goals for EV production. Volkswagen have pledged to be 70% EV by 2030. Kia have rolled out their EV offering to wide acclaim, with the EV6 winning Car of the Year in What Car’s 2022 Awards and a total of 7 EVs in the offing by 2027. Hyundai has lofty ambitions to become the world’s third largest EV maker by 2025 and they are well on the way with 17 new models delivered or in the pipeline. MG are fast building a reputation for creating stylish and capable cars that deliver.”