Electric vehicles are taking over the roads. Whether the vehicle is all-electric or a plug-in hybrid, the benefits of driving an EV are clear. And because EVs are trendy for all the right reasons, it helps the image and economics of any business to invest in EVs. EVs are the first step to creating a greener future for everyone and you can purchase one of these from most dealerships including Edmunds.
All-electric vehicles run on battery packs instead of fossil fuels and represent an important transformation into the world of green energy. Green energy is energy that comes from renewable sources and has far less impact on the environment than burning coal, gas, and oil. Examples of green energy are hydroelectric dams, solar power, and wind turbines.
Plug-in hybrid vehicles feature all the benefits of an electric vehicle but often extend their range with combustion engines. Some say that plug-in hybrids are the best of both worlds because they have the reliability of traditional engineering and the benefits of the latest technology. Let’s consider why companies should invest in EVs below:
#1: Green Image
Branding is an important aspect of any business. When customers see that the company stands behind clean, renewable energy sources and EVs, it speaks volumes to the modernity of the enterprise. It shows that the company is innovative and is concerned about the environment, a factor that resonates strongly with younger generations who are taught about energy conservation in school.
All-electric vehicles are extremely popular because they feature zero emissions. There is no tailpipe or exhaust smoke to pollute the environment. And in states, such as Vermont, that generate most of their energy from renewable sources, that translates into a major reduction in greenhouse gases contaminating the atmosphere.
Even hybrids, however, are beloved by the EPA and driven by many of their employees because they greatly reduce emissions. The gas engines are simply there for some extra power and performance and require less maintenance than a traditional vehicle. The gasoline engines used in hybrids extend the range of the batteries and help to recharge them between plug-in charges.
#2: Cost-of-Ownership Economics
All-electric EVs suffer far less wear and tear than traditional combustion vehicles. This is because they don’t have any oil to change, belts, coolant hoses, pulleys, or other high-wear items.
In both hybrids and all-electric EVs, the brakes are virtually unnecessary because the vehicles instead activate small generators to recharge the batteries and slow down the vehicle. This reduces the need for annual replacements of rotors and brake pads.
The fuel economy of EVs is also superior. According to Consumer Reports, EV hybrids get 40 percent better fuel economy than their combustion engine counterparts. This translates into hybrid EVs exceeding 35 mpg in SUVs and surpassing 45 mpg in sedans.
Of course, an all-electric EV is even cheaper and can travel for 200 miles or more on a three to six dollar charge. It would likely cost $30 or more to travel the same distance at today’s gas prices in a traditional vehicle.
#3: Steadfast Investment
The laws are constantly changing to phase out combustion engines altogether. In fact, starting in 2035, it will be unlawful to sell vehicles powered by combustion engines in the European Union. See https://e360.yale.edu/digest/eu-gas-car-phaseout-2035
As these combustion engines are outlawed, it will be harder to obtain parts and repairs for an aging fleet. By investing in electric vehicles, upgraded battery packs and features are more certain to develop over the next decade.
As auto manufacturers retool their factories and eliminate combustion engines, only serious collectors and jalopy drivers will own a traditional vehicle. When a company is thinking long-term about the future, there is no way for them to eliminate the likelihood that they will eventually transform their fleet into one entirely made up of EV-powered models.
