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New 2017 Electric Cars: Future of the Automotive Industry

plug-in electric vehicles

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Previously, electric cars were only seen as science projects and were given very little attention by the general public but all of that has already changed. Nowadays, they have taken the spotlight and the automobile market by storm. In Canada, the demand for plug-in electric vehicles (PEV) have significantly increased in the past few years and is projected to stay on that trend for the next couple of years. One might say that electric cars are the future given that they pack a lot of benefits particularly in helping our environment healthy.

Despite PEV’s rising popularity, most consumers haven’t really grasped the concept of electric vehicles and the technology behind it. With that, we will lay out the facts about electric cars and how they impact in the automobile market.

Reduced Reliance on Crude Oil

As you might have already figured out, PEVs are mainly powered by electricity however there are varieties that use both oil and electricity which are known as hybrid cars. Regardless of type, all PEVs certainly reduces reliance on oil since they mainly rely on electricity as its fuel. This aspect of PEVs are their main strength since oil is a non-renewable natural resource which means once all the oil resources across the globe have been used up, it would take millions of years to reproduce it.

For this reason, federal governments from all over the globe have taken measures to promote use of PEVs in order to conserve petroleum oil. U.S., Canada, Asia, Europe and even Saudi has recognized this fact (given that their main source of income is oil).

Cheaper to Own

Despite the fact that PEVs have a much higher purchase price, you can still save a huge chunk of money in the long run. Their electric engine has a very high efficiency ratio of up to 90 percent. Although electric prices may vary depending on where you live, electric cars are so efficient with how they utilize their energy that you don’t need to refill them up as much thus saving you more money overall.

Experts have estimated that with PEVs’ efficient technology, its fuel costs is equal to purchasing gasoline for only 80 cents per gallon. That is a huge cut back on fuel costs if you drive an electric vehicle. For hybrids that rely both on gasoline and electric, their fuel efficiency is still higher compared to traditional cars. This is because when city driving, they can utilize electricity to operate but if you need an extra boost on acceleration they switch to oil consumption. With this innovative technology, you are still saving on gasoline costs.

Keeping The Environment Clean

Traditional cars burn oil internally in order to operate which produces a very high carbon emission ratio that is bad for the environment. On the other hand, electric cars have minimal carbon emission because they have no gas to release as byproduct of engine combustion (as in internal combustion cars). With that, it significantly reduces the carbon gas levels in the atmosphere which is the main cause of our ozone layer thinning out. According to the Department of Energy, a traditional vehicle emits 75 pounds of carbon dioxide in a 100-mile journey while an electric car only emits 32 pounds.

Overall Performance

Contrary to popular belief, new breeds of electric cars have exceptional performance. In fact, the fastest electric car recently created can accelerate to 60 mph in only 2.5 seconds and can reach up to a speed of 208 mph! Moreover, they produce almost no noise when you drive them compared to internal combustion engine. Also, PEVs are smoother to drive and cheaper to maintain. In fact, experts say that electric cars depreciate slower than conventional cars giving you a higher resale value in you want to sell it. With the advancements in technology, electric cars are slowly becoming better than conventional cars in almost all aspects. Some experts predict that electric cars will dominate the automobile world in the near future.

If you’re looking to purchase your own new car, New Car Canada offers instant approvals even to those who have horrible credit. We specialize in bad credit auto loans with very reasonable interest rates. You don’t need to pay a down payment or look for a cosigner to get approved. Just fill out our 1-minute online application form and choose from over 5,000 cars in our showroom. Apply now for FREE and get approved in less than 24 hours.

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