Email of the day on electric vehicles.
Comment of the Day

August 26 2020

Commentary by Eoin Treacy

Email of the day on electric vehicles.

I really love your audio comments every day and I think they are very useful. Commenting on the EV mania that is on lately...I don't understand why people are so crazy about tesla enc... at the moment the batteries don't last for a long time and when an EV car catches fire, this fire is unstoppable, a safety problem where nobody ever talks about. On top of that, the power grid of older city centers are not equipped to charge an EV... so where is the point in buying one?

Eoin Treacy's view

Thank you for this email and I am delighted you are enjoying the audios. The charging question is a big one in cities. I called around yesterday to get quotes to install a charging station. They ranged from $700 to $985 before labour. The majority of US houses run on 110 volts and an EV needs 220V to charge in a timely manner. That requires an additional breaker at the fuse box and running cables to where you wish to charge the vehicle. Besides the cost, that is not an option for people who live in apartments. It would require a big expensive communal decision to install chargers in an apartment building.

The buzz around Tesla is in the fun factor. They are currently the sexiest vehicle on the road and limited supply has created demand. As you point out, the million-mile battery is a future development and the company’s battery day has been delayed. Apparently, they do have technological announcements in the works but they will have to be significant to win over sceptics.

Historically, the resale value of EVs has been among the worst of any kind of vehicle. Teslas have the best resale value but. Without the introduction of much longer-lived batteries they will suffer the same fate as other EVs. That is particularly true as supply increases and they become less exclusive.

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