As global warming intensifies, global populations are putting pressure on governments to make policy changes, investing in an EV can keep you in line with the future of transportation, whether this is in step with personal or continent-wide commercial preferences.

The UK government has a plan to ban all sales of new gas and diesel vehicles by 2030, in line with the call for action made by the International Energy Agency as they aim for a net-zero 2050. This means that, eventually, all new sales will be electric. Although this timeline is still far in the future, motorists and fuel retailers should start looking to make investments now, so they can be better prepared when the time comes.

In the UK three in ten new cars being delivered are EV. And with further funding put in place as the European Investment Bank invested 1.6 billion euros to EU members to support electric and battery vehicle projects, adopting this transition and working towards more environmentally friendly transportation can keep you from falling behind.

Finance

Investing in an EV can save you money. With the current cost-of-living crisis, driving prices up across the board and a threat of further price increases on fuel, it is costly to keep driving gas-fueled cars and large commercial fleets. Driving an EV has multiple financial benefits, from cheaper fueling to lower taxes.
Charging your car at home is cheaper than paying the rising fuel prices that European countries are currently facing. Energy companies are implementing reductions for homeowners choosing to charge an EV from their property, offering either dual rates, which lowers the overnight cost of charging a car, or discounted energy bills if the same rate is paid. These overnight costs can help companies charge their fleets fully, depending on working hours.

There are also government grants reducing the amount you must pay to run your EV. The government is willing to assist in installing personal charging ports by paying up to 75% of the costs. As EVs don’t emit emissions, motorists will not be liable to pay road tax. And across Europe, 12 countries offer premiums and bonus payments for people who purchase Evs, with Germany, Italy and France offering monetary incentives of up to 9,000, 10,000 and 12,000 euros, respectively.

Equally, an EV is cheaper to maintain than a standard gas-fueled car. Not only does the battery warranty on Evs last longer – averaging eight years compared to the car’s warranty of three years – but other car service options could be cheaper. As oil changes and other engine-upkeep procedures aren’t necessary, EVs are cheaper to maintain.

Another benefit of owning an EV is that it can give you a better driving experience than gas and diesel cars. Electric cars don’t require gears to function, so they can provide a smoother driving journey than a traditionally fueled manual or even an automatic car that shifts through the gears internally. This also means the torque is available instantly, giving you no delay when you set off and a quieter experience, benefiting both you and your neighbors.

Due to the instant pick-up electric cars offer, driving in traffic is easier. Unlike gas and diesel cars, which need to reach peak band performance before moving from their spot, electric cars move instantaneously. Equally, braking or removing your foot from the gas pedal can also replenish some of the battery in your car via regenerative braking, making the interruptions in your driving caused by traffic jams less wasteful.

There are many benefits to EVs, including financial and environmental. Not only can an EV be a more comfortable drive, but charging can also be a cheaper option than refueling. By investing in EVs, whether for personal or company use, you will be keeping up with the future of transportation as the transition to eco-friendlier and more sustainable fueling solutions continues.