A MONEY expert has explained why he feels EVs are not the future of the motors industry.
The personal finance whizz, named Edward, took to YouTube to explain some of the major issues with electric cars.
YouTubePersonal finance expert Edward explained why he feels EVs aren’t the future[/caption]
He brought up some familiar issues that drivers have been raising for years, including problems with charging and cost.
First of all, he discussed how the EV “price war” in which manufacturers compete to offer the lowest rates is actually hurting consumers.
So-called early adopters and people who have tried to get ahead of the curve in the trundle towards net zero are now being punished by falling prices and slashed resale values, he said.
Edward used the example of Ford cutting the cost of their F-150 electric truck by over £8,000.
For motorists who got in early and bought the model when new, this represents a major decline in value.
It also devalues the car on the resale market, with EVs already facing significant losses as soon as they are driven off the showroom lot.
Edward also took issue with charging times and the effect they might have on commercial driving.
For example, hauliers could face significant delays in charging up electric trucks or lorries in between jobs.
This reduces their productivity, cuts the number of trips they can make per day and, as a result, means drivers lose out on money.
A similar effect is already being observed with driving instructors, who are having take on fewer students and increase prices as they can’t fit as many lessons in as before.
According to the American Petroleum Institute, the average fill up at a petrol station takes two minutes, plus the time taken to pay and drive off.
In contrast, EVs can take anywhere from 30 minutes to several hours just to get back to around 80% charge.
And with the UK’s poor charging infrastructure seeing over 12 million people in rural areas served by just 6,000 charging points, crippling delays could be on the cards for motorists.
Social media commenters were quick to slam EVs.
One wrote: “Can you imagine the insurance premiums for a construction site full of EVs?”
Another added: “Searching for charging stations and then waiting for the vehicle to charge is the very definition of hell.”
It comes after an EV owner explained five reasons that he hates his car.
Meanwhile, Rishi Sunak is set to end the war on motorists at the Conservative Party Conference next week, including blocking new 20mph zones.