EV = electric vehicle, of course. Next year I am planning to replace my semi-green 2005 Honda Civic Hybrid, a logical choice as I noted at the time. So I’ve been poring over Consumer Reports, principally its last auto issue, studying all the cars on the market and trying to figure out the next one to buy. I want to buy one in 2019 not only because the Civic will turn 15 (it was bought in 2004) but also because it’s likely that its $3500 battery will need to be replaced in 2020. The old one died a week after its warranty ran out; I think they are programmed to die. I’d prefer not to have to shoulder that cost.
The auto industry is in a period of great flux; a problem brought home by GM’s recent plant closings and layoff announcements. The Trump Administration may believe that the oil era will last forever, but the more I study the auto market the more I am convinced the oil era is ending. This is great news if you believe oil use must be curbed to address climate change. What’s surprising is that our automakers have pretty much figured it out too. The electric car is coming and it’s going to kill the internal combustion engine.
This is not wishful thinking. It’s going to happen. There are a couple of major reasons why this will happen. As usual it will be less about the need to address climate change, as it will come down to simple pocketbook issues. Electric cars are an emerging market that you currently pay a premium to own. But that will change. When anything becomes widely mass-produced, it gets cheaper. Electric cars will get much cheaper in the years ahead. The real innovation is these cars in the battery technology.
Yet there’s another reason electric cars will become a no-duh purchase five or ten years from now: they should be much less expensive to maintain. Internal combustion engines are complex beasts. Electric motors though are dead simple. No pistons and cylinders to worry about. The car will not need a radiator or presumably much in the way of oil in the crankshaft. EV owners already know that when it comes to acceleration, EVs can’t be beat. Put your foot on the accelerator and you will find yourself pushed into your seat. And you will pass others by without the roar of an engine. For a while, it will seem surreal.
So GM is actually playing catch up. It’s killing many of its sedans basically because these will eventually be replaced with EVs. Right now, their electric car lineup doesn’t have much to show for it: just the Bolt and the Volt, last I checked. They can’t mass produce a whole bunch of new EV models yet because the demand isn’t there. But that will change as costs come down. People are already deferring car purchases, waiting for the price of EVs to come down, which largely explains the slowdown in car manufacturing. Meanwhile, the EV charging infrastructure is quickly coming together. Long distance travel is no longer much of a concern with EVs because super charging stations are becoming easy to find. We already have a Tesla supercharging station right across the river in Hadley, Massachusetts, about five miles away. You can fully charge your vehicle at these stations in about ten minutes.
Right now the cost of using a supercharger is less than buying the equivalent in gasoline. Most people will charge their vehicles at home at the going kilowatt-hour rate. Add in enough solar panels to your home and after the investment in the panels much of the time you can run your EV for free. Of course, if you don’t choose green energy at home, your EV may not be that good for the environment. But that’s changing too. Here in Western Massachusetts all sorts of megawatt solar farms are going up. And we already buy energy from offshore wind farms.
Spending $100K for a Tesla is out of our budget, but spending $37K or so for a Chevy Bolt is probably not out of our budget, if I assume the $7500 tax credit. To get it though I have to be one of the first 200,000 EV owners and hope the Trump administration doesn’t kill it altogether first. We could buy another hybrid car, but its cost of maintenance over the 10-15 years would make it competitive with a low maintenance EV like the Chevy Bolt. I like EV’s being so much more mechanically simpler and thus cheaper to maintain.
So the EV trend is inescapable. Car manufacturers don’t want us car buyers to focus on this right now because it reduces car sales. There’s a lot of profit as long as car buyers don’t catch on. However, a carbon-emitting SUV you buy today is likely a purchase you will rue five years from now. You will look like a hopeless Luddite. Good luck trying to resell those suckers.
One approach we could use is what a lot of Americans are already doing: defer buying a new car until EV prices go down. I may have to pay another $3500 for a new battery for my Civic, but the car is paid for and it is reliable while being reasonably green. It may be cheaper in the long run. I have yet to test drive the Chevy Bolt, the only EV I am likely to buy. I may not like it. I’ve watched test drive videos of the car and it looks pretty good, but I’d prefer something better but as affordable. It just doesn’t exist yet.
So I might end up with a Toyota Camry Hybrid instead. 48 mpg is nothing to sneeze at, but even with its advanced hybrid technology, it’s clear to me that EVs will displace hybrids too. If I am going to join the 21st century car technology, I’d best do it right with an EV.