Buying your first EV

Introduction

In 2019, EVP wrote a blog that served as a guide to buying your first EV (electric vehicle).

However, we feel it is a good time to update the guidance available to our readers.

Since 2019, there have been significant developments in the technology available to electric vehicle (EV) drivers. This blog aims to outline the growth in technology since our last piece.

In 2021, there were more EV registrations than there were in the five years prior. However, EV registrations seem to be booming again, as the table below shows.

Buying your first EV

Buying your first EV – suitability

Before purchasing an electric vehicle, the first thing you should consider is whether an electric vehicle is suitable for you.

The two key aspects influencing a potential buyer are the mileage they generally travel and the ability to charge an electric vehicle.

Mileage

Individuals may believe that they are suited to an EV as their mileage is too high. However, there are two key factors that may have changed this prospect:

Constant improvements in EV range

Over time, the technology being used in EVs is improving. For example, in 2019, the Tesla Model S had a maximum range of 335 miles using the WLTP efficiency test. Using the same test, the 2022 model has a maximum range of 405 miles. While this represents the very top end of the market, it does show how much the battery technology has improved. Also, at the University of Michigan, individuals are trying to develop a solution which may allow lithium-sulphur batteries to be used in EVs. Lithium-sulphur batteries have the capacity to enable vehicles to travel 5 times further than their lithium-ion counterparts.

Increasing the range of vehicles should ease range anxiety in individuals, which is currently one of the biggest barriers to EV adoption. Range anxiety is where a driver becomes nervous that they will become stranded during a trip, as their battery has run out and they have been unable to charge their vehicle.

There is more information about the vehicles available below.

Changes in travelling habits following Covid-19

The Covid-19 pandemic has had several impacts on our daily lives. One key aspect is the changes in travel habits, and more specifically, our working habits.

As more individuals move to either a work from home or hybrid working model, the requirement to travel longer distances has been reduced. This is particularly true for those individuals who would travel for meetings, which now tend to take place online.

As such, these people for whom an EV would previously not have been suitable, may now be able to have an electric vehicle.

Charging

Another major barrier to EV adoption is the accessibility to charge points.

Before purchasing an EV, you must consider where you plan to charge the vehicle. There are three places where you can charge your vehicle.

At home

Home charging is arguably the most ideal place to charge your vehicle. The EV can be plugged in overnight, so it is fully charged and ready for the next day. Charge points can be installed against a wall or off a post.

However, the main difficulty with this is the driver requires space to charge the vehicle. Namely, a driveway, or a parking spot with an EV charger if you are in a block of flats.

Although there is technology in development to assist those who do not have access to a charger, outlined below.

At work

The second option for charging your EV is at the workplace.

The workplace is a logical place to charge your EV, as you will typically be there for around 8 hours a day – easily long enough to charge your vehicle.

While not all workplace car parks have charge points, there is a great opportunity for an employer to promote their green agenda by installing infrastructure.

On the roads

Finally, EV drivers can use the ever-expanding UK public charging network.

According to Zap-Map, in 2019, there were 16,971 EV chargers available to the UK public. At the time of writing, there are 29,531 public chargers available. This represents an increase of nearly 75%. If there can be this much growth in less than three years, when nearly two of those years have been heavily impacted by Covid-19, it is exciting to think about how many charge points will be available in five years time.

What vehicles are available?

Electric vehicle choice is constantly evolving and improving. From hatchbacks to large SUVs, there is an option for you. There are even electric pickup trucks to come in 2022!

The vehicles below are just some options available:

Peugeot e-208

Price: £28,260 (inc PiCG)

WLTP range: Up to 225 miles

Buying your first EV

Fiat 500 electric

Price: £19,211 (inc PiCG)

WLTP range: Up to 118 miles

Buying your first EV

BMW i4 M50

Price: £51,905 (inc PiCG)

WLTP range: Up to 318 miles

Buying your first EV

Hyundai IONIQ electric

Price: £37,600 (inc PiCG)

WLTP range: Up to 194 miles

MG5 EV

Price: £27,945 (inc PiCG)

WLTP range: Up to 250 miles

Porsche Taycan Turbo S Cross Turismo

Price: £140,360 (inc PiCG)

WLTP range: Up to 240 miles

Buying your first EV

Audi Q4 e-tron

Price: £40,750 (inc PiCG)

WLTP range: Up to 175 miles

Buying your first EV

Skoda Enyaq IV

Price: £40,000 (inc PiCG)

WLTP range: Up to 256 miles

Buying your first EV

What charging infrastructure is available?

Ultra-rapid

  • Chargers provide power at 100kW or more
  • Charging time = 20 – 40 minutes (to 100%)
  • Public charge count = 1,395

Rapid

  • Chargers provide power at 50kW (DC)/43kW (AC)
  • Charging time = 20 – 60 minutes (to 80%)
  • Public charge count = 4,012

Fast

  • Chargers provide power at 7kW or 22kW
  • Charging time = 4 – 6 hours (7kW)/1 – 2 hours (22kW)
  • Public charge count = 16,734

Slow

  • Chargers provide power at 2.3 – 6kW
  • Charging time = 6 – 12 hours
  • Public charge count = 7,647

What makes electric vehicles attractive?

Reduction in whole-life costs

One of the key advantages EVs have are their potential for reducing whole-life costs.

Whilst EVs are initially more expensive than ICE vehicles to acquire, they benefit from lower running costs.  This is due to the lower cost of charging the vehicle. and lower maintenance costs due the vehicle having fewer moving parts than its petrol or diesel counterpart.

EVs also currently do not need to pay vehicle excise duty and low benefit in kind taxation when taken as a company car option.

Improving eco-friendly credentials

Electric vehicles emit no emissions at the point of use or ‘tailpipe emissions, reducing the impact on our environment.

Not only does this have a direct impact on the climate, it also demonstrates an ESG commitment that will make you more attractive to potential clients.

EVs are extremely quiet, helping to mitigate noise pollution.

Legislation pro-activity

There has been lots of dialogue regarding the 2030 ICE ban.

EVP have also covered the Greater Manchester Clean Air Zone (GMCAZ). There are also other legislative changes in Oxford and London to come.

So moving to electric vehicles will become commonplace so moving early shows your organisation as being proactive, ensuring you are ahead of your peers.

What can we do to help?

EV Consultancy

We are specialists in helping fleets make the transition to electric vehicles through our EV consultancy services. We work private, public and third sectors, providing strategies and implementation plans to manage the transition in a controlled and cost effective way.

EV Salary Sacrifice

EVP can help your organisation implement an electric vehicle salary sacrifice scheme.

This is where an employee gets a new electric vehicle, at a competitive price by sacrificing some their pre-tax earnings.  The employee gets a great benefit and at no cost to the employer.

If you would like to know more about our services, please contact us.