Home Technology 10 Facts About Electric Cars| Bankrate

10 Facts About Electric Cars| Bankrate

10 Facts About Electric Cars| Bankrate

Electric vehicles, also referred to as EVs, have not too long ago gained newfound recognition. Global EV gross sales rose 40% between 2019 and 2020, because of the rising availability of various kinds of inexpensive electrical vehicles, Tesla’s historical stock market success and rising gas prices. Besides the 19 EVs available from Tesla, Nissan, Kia, Porsche and different producers, there are an additional 18 models anticipated earlier than 2021 is over — and one other 29 to 30 which may be launched within the subsequent few years.

The automobile business is quickly altering, with the most recent alternative-energy autos fostering expertise that appears mild years away from the combustible-engine automobile. Extended ranges and a rising community of high-speed EV chargers make it attainable for the electric-vehicle driver to journey additional, eradicating one of many greatest objections customers have. Bankrate weighs the professionals and cons of electrical vehicles and discusses how they work.

Electric vehicles in 2021

Key takeaways:

  • EV battery prices have dropped $1,000 per kWh in ten years. (Bloomberg)
  • There have been 25,313 charging stations within the U.S. by the tip of 2020, triple the 7,340 there have been in 2014. (U.S. Department of Transportation)
  • California leads with 12,389 charging stations, adopted by New York, Florida and Texas with 2,000 or extra every. (U.S. Department of Transportation)
  • There are 10 million EVs on the street. (S&P Global)
  • 122,016 EVs have been bought in March 2021 setting gross sales data. (U.S. Department of Transportation)

Some important developments are pushing EVs into the forefront. As extra electrical vehicles are produced, the fee to supply batteries has dropped, making the electrical automobile extra affordable. Today, batteries are approaching a exceptional worth of $100 per kilowatt-hour (kWh). Ten years in the past, batteries bought for greater than $1,100/kWh. Considering that the battery is the costliest electrical automobile element, the automobile has turn out to be extra accessible to the plenty.

In addition, charging stations have more than tripled from 7,340 in 2014. By the tip of 2020, there have been 25,313 charging stations all through the nation. California leads with 12,839. New York, Florida and Texas have the following highest variety of charging stations, with 2,000 or extra EV charging stations every.

There are over 10 million EVs on the street. EV gross sales dropped in 2020 to 296,000 models from 331,000 in 2019 because of the pandemic. However, issues rotated in 2021. According to the Bureau of Transportation, March gross sales set data for every type of electrical vehicles. The all-time excessive of 122,016 EVs bought grew the EV market share to 7.6%:

  • Hybrid-Electric Vehicles (HEVs): 75,959
  • Battery Electric Vehicles (BEVs): 33,370
  • Plug-In Hybrid-Electric Vehicles (PHEVs): 12,687

Key electrical automobile information

Electric autos will not be a passing development; they turn out to be extra inexpensive every year and customers have gotten extra comfy with the concept of plugging in as an alternative of fueling up. A latest survey by Consumer Reports discovered that 71 percent of U.S. drivers would think about shopping for an EV sooner or later. One third of the respondents mentioned an EV can be their subsequent buy. Other attention-grabbing electrical automobile information embrace:

  • The first electrical automobile was created in 1832. (Energy.gov)
  • An EV would price solely $1 in power to journey the identical distance as a gallon of gasoline, which presently averages $3.04. (Energy.gov)
  • A Tesla Roadster is quicker than most sports activities vehicles, with an acceleration velocity of 0 to 60 in 1.9 seconds. To evaluate, a Ferrari or Lamborghini accelerates from 0 to 62 in 2.8 to 2.9 seconds. (Tesla and (*10*))
  • Nearly half the EVs on the planet are in China. (Global EV Outlook)
  • Roughly 96% of EV house owners would purchase or lease one other one. (AAA)
  • EVs are extra environment friendly. Up to 80 p.c of the battery power powers the automobile, in comparison with 14% to 26% of the power from a gasoline-powered automobile. (Energy.gov)
  • About 57% of customers keep away from EVs as a result of they fear about operating out of cost however solely 5% of householders have run out. (AAA)

What is an electrical automobile?

An electrical automobile is powered by an electrical motor as an alternative of a gas-powered combustion engine. An EV’s battery will be charged at residence or at an EV charging station. The Alternative Fuels Data Center (AFDC) experiences that the most popular EV manufacturers are:

  • Tesla (Model 3 and Model X)
  • Toyota (Prius PHEV)
  • Chevrolet (Bolt)
  • Nissan (Leaf)

Types of electrical vehicles

Electric vehicles are available three principal sorts:

  • Hybrid-Electric Vehicles (HEVs): HEVs mix a gas-powered engine with one (or extra) electrical motors. An HEV doesn’t plug in; it collects power via regenerative braking. The Toyota Prius could also be one of many best-known HEVs.
  • Plug-In Hybrid-Electric Vehicles (PHEVs): Similar to an HEV, the primary distinction is {that a} PHEV is ready to plug in to cost. The Prius additionally comes as a plug-in model.
  • Battery Electric Vehicles (BEVs): Also referred to as an all-electric automobile, it must be plugged in to recharge. Teslas are BEVs.

How do electrical vehicles work?

An electrical automobile works equally to a gas-powered automobile. However, EV drivers might spot some variations from gas-powered autos, reminiscent of:

  • Quiet operation: Many passersby typically get startled and say they didn’t hear an EV approaching, and first-time house owners say they often will not be positive if their automobile is on.
  • Sluggish acceleration: Some of the hybrid EVs are designed to speed up slowly and coast, which takes some getting used to. However, electrical plug-ins, such because the Tesla or Porsche EVs, are very quick.
  • Marked deceleration: EVs usually benefit from regenerative braking to recharge the battery. Letting off the accelerator may trigger the automobile to noticeably decelerate greater than an everyday automobile.
  • Extra trunk or “frunk” house: Pure EVs don’t have a flamable engine. Therefore, the entrance hood is empty and, in lots of fashions, used as a entrance trunk.

What powers electrical vehicles?

EVs use batteries to energy the automobile. A traction battery pack drives the automobile’s wheels. You will discover that some vehicles use electrical motor-generators that work to drive the EV and regenerate the battery.

Pros and cons of electrical vehicles

Electric autos have come a great distance in the previous few years — and have way more room for enchancment. Consider the next advantages and disadvantages.


  • Energy-efficient: Gas autos waste most of the energy they produce. In comparability, as much as 80 p.c of a battery’s power powers an electrical automobile.
  • Lower upkeep prices: EVs don’t have an engine that wants upkeep or oil alternative. And within the case of pure-electric autos, brake use is minimal because of the regenerative braking that routinely slows the automobile down while you let your foot off the accelerator.
  • Smaller environmental affect: EVs do not emit pollutants from tailpipes and don’t require as a lot (or generally any) gasoline.


  • Cost: Although the fee is steadily lowering, EVs are nonetheless 10% to 40% dearer to purchase than a gasoline-powered automobile.
  • Range: According to Energy.gov, electrical autos can solely journey 100 to 300 miles in a single cost, relying on the mannequin.
  • Charging: Charging an EV takes for much longer than filling up a automobile with gas. Charging a Tesla at a Supercharger may take 45 minutes to one hour. Charging at residence may take a mean of 11.5 hours and will probably trigger a really costly electrical invoice.

How a lot do electrical vehicles price?

Many components have an effect on the price of proudly owning and driving an electrical automobile. Compare the worth of driving a gas-powered automobile to an EV, and you will note some steadiness between the financial savings and better prices of proudly owning an EV.

Technology and infrastructure developments are making EVs a wonderful different to gas-powered vehicles. You may get rid of your gasoline invoice and turn out to be a part of the sustainable motion. Best of all, driving an EV doesn’t imply you compromise efficiency or enjoyable — many fashions are well-equipped to drive as comfortably and capably as a standard combustion automobile.


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