The Rise of Electric Vehicles: Is Now the Time to Buy One?

Electric vehicles (EVs) are more popular than they’ve ever been. While Tesla, headed up by Elon Musk, has been at the forefront of the movement, they’re certainly not the only company in the world that has EV offerings.

Now, virtually every major automaker in the world either has electric vehicles in their product lineups or is planning on releasing them in the coming years.

With that in mind, is now the right time for you to buy an electric vehicle?

Perhaps you’ve already started researching different brands, and are familiarizing yourself with their pros and cons. Maybe you’re completely against the idea of owning an electric vehicle but you’re curious as to why they’ve boomed in popularity so much.

Whether you stand on the topic, we’ve got you covered with some insight into why they’re so popular so you can decide if now is the time for you to buy one for yourself.

The Environmental Benefits of Electric Vehicles

As we know, Tesla isn’t the only company in the EV industry, but they are still considered the leading name. When the company was formed some 20 years ago, the goal was to create vehicles that would have less of an impact on the environment than the gas-guzzling cars that were on the roads.

Today, countries around the world have put emissions goals in place to try to decrease the amount of greenhouse gasses that are flowing into the atmosphere from their countries, and EVs are considered one of the most powerful weapons in this battle against climate change.

At the earliest stages of their development, electric vehicles were too expensive for most buyers. The technology and development were still so new that it was impossible to put these vehicles on the roads at a price point that worked for most buyers. Fortunately, Tesla worked tirelessly to start offering new models of their EVs at a price that worked for more buyers over time.

Today, Tesla isn’t the only company in the electric vehicle market, which has helped to further drive down prices. This is great news for drivers who want to be a bit more environmentally minded in their daily lives.

While there are some other benefits associated with owning an EV, and we’ll get to those in a moment, their biggest benefit continues to be the diminished carbon emissions.

Financial Benefits Associated with EV Ownership

Ultimately, everyone is looking for ways to keep more money in their pockets, and electric vehicles certainly provide an opportunity to do that. Let’s begin by looking at their most practical financial advantage before diving into more complex benefits.

If you’ve been driving a traditional vehicle with a combustion engine, you probably don’t have a gas pump at your house. Instead, you have to stop at the gas station and pay ever-increasing prices for gas. Depending on how often you drive and how far you go each time, you’ve probably noticed that you’re spending more on gas than you were a year ago.

When you purchase any electric vehicle, the dealership gives you a charging cord that goes with your purchase. This Level 1 charger isn’t the fastest charger that you can find, but it does plug into the outlets that you already have in your garage.

However, you can purchase a Level 2 charger that relies on the same type of plug-in that your dryer and stove uses that will charge your vehicle much quicker. Even if you don’t go that route, you can usually use a public charging station much cheaper than you can fill up your tank with gas.

However, the process of powering your vehicle isn’t the only way that you can save money by making the switch to an EV. Many governments, including the United States, offers tax incentives and other discounts to people who buy EVs as a means of encouraging them to take part in these reduced carbon emissions.

On an even smaller level, some local municipalities even offer parking discounts and waive toll fees for electric vehicles to encourage people to make the change.

Improvements to the Charging System

If you’re curious about why EVs have grown more popular in the last few years, you only need to look to the widescale changes to the charging systems that keep them powered.

At the onset of the EV revolution, people quickly noticed that it was difficult to find charging stations, especially on longer road trips. Even if they found a charging station, the lines were often so long that people were frustrated by the time they made it to the charging port.

Over time, EV companies, especially Tesla, made great strides in charging infrastructure. Not only did they expand the number of charging stations, but they also made sure that they were installed in places that weren’t necessarily metropolitan epicenters.

Additionally, Tesla worked with other EV manufacturers to allow their charging stations to work on vehicles that they didn’t manufacture. This was a particularly huge moment, as Tesla’s charging stations only charged Tesla vehicles for years.

Finally, it’s becoming increasingly common to see charging stations installed at businesses. You may have noticed certain parking spots at your local grocery store being converted into standalone charging stations, allowing you to pay a few dollars to charge your battery while you do your shopping.

You may also work for a company that has put charging stations in the parking lot, which means you can get your battery fully charged while working. These improvements have been at the heart of the boom in EV popularity.

Improved Performance

Another major area of improvement in the world of electric vehicles is found in their range and performance. If you weren’t following the industry when Tesla started rolling out EVs to the market, you may not have caught just how much those vehicles struggled with performance and range.

While the company had done countless hours of research and development, the fact remains that some of those earliest EVs simply could not live up the needs of the consumers.

That’s not the case anymore, which is directly related to why electric vehicles are more popular than they’ve ever been. In addition to getting more range, the performance of electric vehicles has also improved.

While there have been plenty of hiccups along the way, Tesla, along with other EV manufacturers, have largely figured out how to keep their products running just as smoothly as their gas-powered counterparts.

These improvements have allowed EVs to stop being “city cars.” Initially, people who lived in large cities where their workplaces, favorite stores, restaurants, theaters, and other destinations were relatively close were the only people who could truly get the most out of an EV.

Because of these changes to performance and the ongoing evolution of the charging system, you can see just as many electric vehicles in rural areas.

The Sky Is the Limit

The future of electric vehicles is certainly bright, especially as new battery technology continues to be developed. As new technologies are made available and prices continue to decline, you’re going to see more of these vehicles on the road.

Today, many of these vehicles are now offering other types of technology, including the option to have self-driving capabilities in place when you’re on the road.

Is an electric vehicle right for you?

That’s a question that only you can answer. However, there’s certainly no denying that they’re more popular than they’ve ever been, and they’re likely to be even more popular a year or two in the future.