Pros and Cons of Electric Vehicles

One of my friends bought a new, high-end Tesla and loves it.

He calls it the “iPhone of cars” because of its ease of functionality and superior performance compared to all other electric vehicles. Consumer Reports gives some pros and cons of electrics. They’re quiet and fun to drive due to their instant power. They can be charged at home and there are no particulates or smog-causing tailpipe emissions. Maintenance costs are lower since they have fewer parts. Fluid changes and tune-ups aren’t required. The overall fueling costs are lower assuming the cost of electricity remains stable. Plus, there’s a possible tax credit.

The cons include the cost of purchase, cost of insurance, cost of electricity, and depreciation. They have a limited driving range, so access to charging stations and the time to charge is a heavy consideration. Battery manufacturing is water-intensive and pollutes air, soil, and water. In January, The Guardian reported the devastating effects of unregulated mining for cobalt and lithium. Men, women, and children miners suffer.

Base prices range from $30,000 for a Hyundai or Nissan to six figures for some Tesla and Porsche models. Home charging units cost under $1,000 with rebates available in some states. Whether our power grids can keep millions of cars charged is questionable especially after the recent snowstorm fiasco. Though probably no “iPhone” of cars, an older, reliable, used vehicle can be a wise financial decision in addition to keeping you humble. 

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