The automotive industry is changing. With global governments set on reducing emissions, and in the UKs case, a blanket ban on the sales of new petrol and diesel-powered vehicles by 2030, the race for electric is in full swing.
Whatever your thoughts on electric vehicles (EVs), we are in the biggest revolution in motoring history since Henry Ford first launched production back in 2013. With big-name brands such as Volkswagen pledging 70% of all new cars to be all-electric by 2030, Jaguar only electric by 2025, and Lotus exclusively electric by 2028, soon your buying options will be limited.
Want to know more? Here we take a look at why the future is electric:
The green industrial revolution
Back in November 2020, Boris Johnson announced the government’s ten-point plan for a green industrial revolution. While the original plan to ban the sale of all new petrol and diesel vehicles was first revealed in 2017 with a 2040 deadline, further evidence surrounding the cost of high emissions brought the date forward to 2030.
The message was clear: the electric revolution is here to stay for a greener, more sustainable Britain.
Further research from the Office of National Statistics (ONS) reported that from 2019, “transport was responsible for 27% of total UK greenhouse gas (GHG) emissions.” Then you have to stop and think about the Mayor of London’s flagship Ultra Low Emission Zone (ULEZ) in the capital.
First launched in April 2019 to combat the illegal levels of toxic air pollution and protect public health, ULEZ was set up across Central London, covering the same area as the Congestion Zone. Operating seven days a week, 24 hours a day, all year round bar Christmas Day, motorists can face a £12.50 daily charge if their vehicle doesn’t meet the ULEZ emission standards.
With mounting pressure on drivers to curb their emissions, by either investing in a Euro 4 petrol or Euro 6 diesel as a minimum, the only way to fully tackle the rising levels of NO2 and particular matter (PM) is to own a pure electric vehicle. Zero tailpipe emissions, zero pollution.
The face of the automotive industry is changing
Tesla is well known for its innovative, forward-thinking tech, and with Elon Musk at the helm, you can guarantee that his team will continue to defy expectations and shake the industry. Since the Roadster’s stellar debut in 2008, Tesla launched its first car – and you’ve guessed it, it was completely electric.
Reaching an impressive 245 miles on a single charge during company tests, the Roadster reached an unprecedented range for a production electric car.
Fast forward to today, and all the major brands from Audi to VW are developing bolder, stronger and further-reaching EVs than ever before. The industry is listening from General Motors announcing that they will only make electric vehicles by 2035 to Ford only selling electric in Europe by 2030.
Yes, range anxiety still plagues the minds of motorists. With the lack of infrastructure and access to rapid charge points a bugbear for most considering the switch, there are still a few bumps to be faced along the road.
But with the Tesla S reaching an impressive 360 miles on a single charge, and helping you navigate where each charge point is en route, is it time to let go of range anxiety for good?
Incentives to buy
By the end of last year, it’s estimated that there were around 10 million electric vehicles on the world’s roads. With electric car registrations growing by 41% in 2020 despite a worldwide pandemic, according to the International Energy Agency (IEA), it’s clear that the demand for EVs is growing quickly.
Buying a new car is a significant purchase no matter what your circumstances, and as our awareness about climate change grows, so does our desire to swap your old polluting motor for an electric one.
To aid this transition, many governments have released a series of grants and schemes to encourage the uptake of EVs:
- The UK offers up to £2,500 EV grant and a Scrappage Scheme in London
- New Zealand offers the Clean Car Discount scheme
- President Biden has announced a $7.5bn EV charging infrastructure network, but it is not yet clear what buying incentives, if any, will be available
- California offer the Clean Vehicle Rebate Project and a Clean Fuel Reward programme
- China is currently the world’s largest EV market and offers a broad range of regulatory incentives
While the offer of a buying incentive might be enough for some, purchasing a new car with the aid of car finance undoubtedly makes it more affordable. Whether you opt for Personal Contract Purchase (PCP), Hire Purchase (HP), a personal loan or a lease, there are numerous options available.
Simply place a deposit (typically 10%) and proceed to make smaller, more manageable monthly repayments until your term is complete.
But, for some drivers, getting car finance isn’t as straightforward. You may have missed payments in the past or have a poor credit score which often sees you on the reject pile. However, there is hope. There are a range of reputable poor credit car finance lenders out there who focus on your personal circumstances and help you to rebuild your credit score as you drive away in your dream motor!
Is it time to embrace the future?
2030 is not far away. Within less than a decade, you need to make a choice. Either switch to a plug-in electric vehicle or keep your current combustible motor.
According to the Department for Business, Energy and Industrial Strategy (BEIS), ‘the cost of fuelling 100 miles in the top-selling electric car (£3.94) was less than half (41.7%) of the cost to fuel 100 miles in the top-selling petrol car (£9.45)’ in 2020.
Since then, there has been a global rise in petrol and diesel prices. With the UK averaging £1,14 per litre in 2020 to £1.46 or more in 2021. With the cost divide increasing each year, and the growing pressures to invest in electric, is it time to simply embrace the future?
The future is electric. With the 2030 date set for the ban of all new petrol and diesel vehicles in the UK, the race is well and truly on to make the switch. What are you waiting for?