13, Jun, 2019

Electric Vehicles are now in the fast lane

Wow… that escalated fast. Who would have thought Electric Vehicles (EVs) would be front page news? Now, it feels like the discussion of EVs is everywhere. Naturally, this is prompting many people to consider their own future driving needs. And this may include you. Maybe you want to do more to help the environment? Maybe it’s the appeal of the new technology? Maybe it’s just time for a change.  But where do you start?

Here’s a quick guide to get you going:

Can I purchase/lease an EV through ORIX?

Yes.

How many models are on the market now?

It’s currently a small number. But you can look forward to more model choices arriving over the next few years. In the US alone, manufacturers are planning 75 new all-electric models over the next five years. Expect many of these to start showing up in Australian showrooms soon. Additionally, Toyota has announced that every model in its range will have hybrid or pure EV option by 2025, and yes this includes the Hilux.

Ok, but what’s the range like?

Regardless of the model you choose, you can expect your EV to easily meet several days of metro commuting, with a few runs to the shops thrown in, between charges. Bottom line, if you’re travelling less than 100km per day don’t let range hold you back from purchasing an EV.  And as battery technology develops, and recharging stations becomes more accessible, range will become even less of an issue.

How long do they take to charge?

Charging times vary. Absolute best practice is around 201 min today, but that can extend to several hours if you’re charging at home using a standard three prong electric plug. If you are on the road and need to recharge, there are over 360 charging station available nationally2.

Ok but…are they fun to drive?

Yes. The current generation of EVs have torque on tap and are ready to run.

Do the environmental benefits stack up?

If the best environmental outcome is your key consideration, you’ll need to consider the whole vehicle lifecycle from manufacturing to recycling. An EV with zero emissions at the exhaust, definitely sounds positive. But… you should also consider the emissions incurred during the manufacture of the EV itself, how the electricity you use is generated and the material used in the production of batteries. The most environmentally friendly choice on the market today is most likely a fuel efficient used car, which you can also be acquire through ORIX3.

Any Government incentives?

Not at the moment. There is a reduction in the Luxury Car Tax (LCT) for vehicles that use less than 7.0L / 100km, but that’s not exclusive to EVs

As time goes by, it’s going to be easier to find an EV that seamlessly fits your lifestyle. And it’s going to do so with significantly improved environmental performance.

If you’d like to learn more about acquiring an EV, contact ORIX today.

 

  1. 1 https://auto.howstuffworks.com/fuel-efficiency/vehicles/electric-car-charging-goes-super-fast.htm
  2. 2 https://www.plugshare.com/
  3. 3 https://www.scientificamerican.com/article/when-used-cars-are-more-ecofriendly/?redirect=1