Are Electric Cars Better for the Economy?

DATE: Nov, 11   COMMENTS: 0   AUTHOR: Allan Azarola

Electric cars are with time becoming popular all over the world. These hybrid vehicles are environment-friendly, help in improving fuel economy and costs among many more rewards. Most economies are looking to phase out of the sale of vehicles using fossil fuels. This is because of the following benefits of electric cars.

Ensures Energy Security

Because they use electric-drive technology to improve their efficiency, electric cars do not, as a result, require much fuel for it to run. Focusing at the national level, electric cars help ensure energy security for countries relying on others for petroleum, they can achieve oil independence because these hybrid vehicles can easily be powered from renewable energy sources. A country, therefore, does not have to spend a lot of money and resources importing petroleum or other fossil fuels to serve their cars. This makes the electric cars economic to a country.

Cheaper to Run and Maintain

Electric cars are generally a cheaper option for anyone looking to purchase a vehicle. When you compare the amount, you will spend charging your electric car to that you will spend on buying petrol for a non-electric car, it turns out that charging is cheaper than purchasing petrol. In line with that, electric cars are also cheaper to maintain because they have lesser moving parts as compared to those using diesel or petroleum. Servicing, therefore, is little for these cars because in most cases only the brakes, suspension and tires require such and occasionally replacing batteries. When individuals use cheaper options, the economy or their country gains too.

Environmental Benefits

Due to electric use, electric cars do not emit harmful gases to the environment, in fact, they have zero exhaust emissions which reduce the rate of environmental pollution. The use of renewable energy also reduces greenhouse gas emissions, you can charge your car from a solar PV during sunlight instead of charging from the grid. Most of these electric cars are made from eco-friendly materials such as discarded water bottles, cast-off home appliances, plastic bags, and old car parts. This is not only friendly to the environment but also to the economy as well.

Home-Based Charging

Unlike conventional petroleum or diesel cars, electric cars give you an easy time because you need not go to a petrol station but just plug in your car to charge at the comfort and security of your own home. It is equally as easy as plugging in your mobile phone to charge. Electricity bills in line with charging these cars are cheaper as compared to buying petrol for a car. This makes them cheaper to the economy of a country.


Electric cars are economy friendly through their efficiency. They can convert suitably over 90% of battery energy to accelerate the car. This is in comparison to the petroleum or diesel cars that convert approximately 30% energy. Notably, electric cars hold their values more as compared to petrol and diesel cars. As a result, car companies can set relatively higher prices for these cars and at the same time decrease monthly charges.

Safer Environment and Mobility

Transport electrification provides the opportunity for a cleaner mobility nationally and locally. Even without substantial variations in the sources of electric generation, an electric vehicle can still reduce air pollution from emissions by approximately 60%. Electric cars facilitate the improvement of air quality. In addition to that, as battery prices go down, electric cars will provide cheap mobility for owners and the entire city or country.

For a better view of these and to learn more about our planet, economy and sustainable resources, trade show booths is your go-to place.

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