If you install a NEMA 6-20 240v/16A outlet, you will not need a permit and the total costs for parts and labour will be much less; you can then charge at 3.8kw/hr by plugging in a generic 240v EVSE (charger) for ~$200usd. If you have an existing NEMA 5-15 (standard three prong 120v outlet) that uses 12-2 wire, you can convert that outlet to a NEMA 5-20 by changing the breaker to 20amps and the outlet to a NEMA 5-20 and then you can charge at 120v/16A or 1.9kw/hr. Total cost, using an electrician and a generic 120V charger might be ~$300usd. However if you drive less than ~30 miles/day you probably only need a standard NEMA 5-15 outlet and a generic charger to charge at 120v/12amps or about 1.4kw/hr.
Wow! You know a lot. We just called a google search I think, but as you say, currently I am getting by with just a wall outlet in the garage. The NEMA 14-50 we had installed is almost never used. Thx for sharing. I am gonna pin this comment. Very useful info.
Thank you Walter for the reporting on price parity happening in 2024. My EV purchase was on a hunch that economics of ditching ICE was a correct move for my wallet. I feel some satisfaction after viewing your report. I do note that this is a big country and home charging is problematic for a fair amount of drivers in 2024, so achieving price parity is not evenly applied to all drivers. Countries like Norway have found solutions that we are still looking for.
In Norway, the right to charge law I understand has been helpful. Landlords do not have to install chargers, but they can not stop their renters from draping extension cords either.
Being new to EVS a 2022 Chevy Bolt EUV. Did my first cross state road trip around 450 miles. It was one of the most relaxing trips I have done. I charged four times and did 70 mph or less and was very relaxed.
Hi Walter, Thank you for reviewing the studies on price parity. Something that I’d advocate for in comparing costs is to include the cost of a 40amp EVSE and allowance for 240v plug install included in the cost of EV ownership, since home charging is key to fuel cost savings. The comparison study seemed ‘overly sensitive’ to making the EVs fit within the Canada federal government subsidy requirements and helping the EV up front costs stay lower or picking more well-appointed higher price ICE models. A top trim Corolla vs the Bolt EV. A RWD M3 vs AWD Lexus ES250 - maybe AWD (non performance) M3 vs AWD Camry SE? Those ‘could’ cross-shop in terms of luxury level, at least. A standard range F150 Lightning - very few are buying the smaller battery pack truck here in Upstate NY, no less farther north where it’s seriously cold in the winter. The ID.4 Pro (RWD) vs 2WD (front) LX CRV was a closer match. We are close to parity now, save the higher cost entry point to ANY new EV vs ICE. Fortunately (for non-EV owners), used EV prices have been falling recently so access is improving some there.
I respectfully disagree that parity is not contemporary. If you go to the EVgo link in the description, download the slide deck and look at #6, they reference 38 less than $35k EVs avail in next 18 months. So the TCO is just part of the discussion. Purchase price parity is here too with TCO just an added benefit. The GM options are all at parity with their ICE cousins.
@@thenetworkarchitectchannel 10 years here too, but hey EV's were among the first cars in 1900, ICE only took off after they invented the electric starter, so it's not like we are early adopters, we're actually very late adopters!
Excellent information. Appreciate your attention to detail and your ability to "dumb things down" for the masses. I also appreciate your effort in keeping politics out of the conversation. A decision to move to an EV should be made with the facts that are backed by numbers, and not by external influences, left, right, or center.
Good summary of good news, Walter! In my own experience, battery degradation is no big deal anymore. In my last EV, after 6 years and 78,737 miles, its battery was still at 94.35% capacity. We'll see how my current EV holds up: after only 7 months and 5,823 miles, the battery is still at 100%. As for time on roadtrips, I've found that after driving 3 hours straight, I desperately need to visit the restroom, and by the time I've done that… the EV is charged back up to 80%. Again, it's no big deal -in my experience. Naysayers often complain about using their tax dollars to pay for EV incentives, but they rarely, if ever, look at the big picture. Annually, EV incentives amount to $670 million, yet our tax dollars also pay subsidies to the fossil fuel industries to the tune of… $3.7 BILLION! Funny how the pe'trolls never complain about that when attacking EVs. And when it comes to lifetime costs, I can report that, if I'd kept my old Subaru, I would have paid $21,516 more to "fuel" it instead of my EVs. However, to be frank, I never started driving EVs powered by rooftop solar to "save money," but to do my small part to help mitigate the climate crisis. I would thus still do it, even if it cost me more -which in my mind would be the "fine" I should pay for the decades I spent spewing out pollution from tailpipes.
Concerning road trips, I feel an unspoken concession that while not on road trips EVs are superior is being acknowledged every time someone brings up the road trip issues. For the 50 weeks of the year not on road trips, EVs really shine. As for taxes, I am fine if people do not want to use the free money for EV purchase. More for those who do!
@@thenetworkarchitectchannel I can tell you that, in my case, the government didn't give me one penny for my current EV. The automaker discounted it by the same $7,500 amount, plus $2,500 more for trading in a "competitive" vehicle. I really wouldn't care if the incentives were eliminated, as long as the oil, gas, coal subsidies were also eliminated. Let's level the playing field and will see which drivetrain wins in the "free market."
You can also use the customer number increase on evGO as an indicator of more adoption. I think many people don't want EV not due to costs but they believe in the convenience of fueling and current habits. As many EV owners learn after living with an EV, the convenience of fueling at home (80% of the time people are traveling locally from home to work) outweighs going to a service station for gas and maintenance. During road trips most people do not realize how long they take on a stop for a break and or fueling. For myself after living with an EV you can't be all the benefits of the EV over ICE. The only situation that does not will yet is with towing long range, but the Silverado EV and Sierra EV can solve this problem but not at price parity. (And charging stations are not designed like gas stations for pull through). BTW: Great Video, well explained.
Yes, 4 sure. All their numbers were up. It was a very encouraging Q2 earnings report. I think the GM strategy for Towing is to offer diesel trucks for a long while still. Light duty EV all the way IMHO.
@@thenetworkarchitectchannel I agree until battery tech and infrastructure to get better towing can be a challenge. I am happy to see GM light duty can address towing better for the person like myself that pulls out to a lake in the mountains and back. Until more infrastructure trucks like the Lightning just didn't work.
Greetings Walter. Above the door of my office is a sign that reads " In God I trust, all others bring facts and data". Thank you for the effort it took to gather this data and the time invested into the presentation. Good weekend to you sir. Regards H
The Ethiopia news was a neat addition to emphasize the oil dependence in an environment far removed from North America. The "generation agnostic" aspect of electrification is often overlooked but spreading the pool of how we power our vehicles (sunshine, hydro, natural gas, nuclear, and yes, even coal if the region wants it!) to only domestic or friendly nations is a huge advantage of this transition. Thanks, as always, for the comprehensive coverage of the EV space.
Thank you for the kind words Steve. I too was amazed to read about the Ethiopia situation. It makes good sense, so I guess I should not of been but what a dramatic shift is occurring all over. It is an exciting time to be alive.
On disadvantages ... - Gas cars lose range too after 200k miles - GM has vehicles reaching 500 miles (Silverado EV) with 350 kW fast charging, you'll see this in the big SUV's soon - Even charging out of a wall socket at home will get you a surprising amount of range overnight
The first part of the video is great, giving a concise, unbiased comparison of ICE vs EC. I'll point my friends to this video when they ask about EVs. The second part is, ummm. Yes, EVs are cheaper when you consider TCO, but a lot of people are only concerned with purchase price. Having said that, some EVs are at purchase price parity with their ICE counterparts, some not. Also, in the US, some EVs receive the $7500 federal rebate (tax credit) which is not reflected in the Canadian study.
Thx! As for the 2nd part, if you go to the EVgo link in the description, download the slide deck and look at #6, they reference 38 less than $35k EVs avail in next 18 months. So the TCO is just part of the discussion. Purchase price parity is here too with TCO just an added benefit.
Driving at 50 mph on an interstate here in California will get you a ticket for obstructing traffic! (Except in metro areas where 50 mph is considered wonderful. Interstate speeds are 65 or 70 are the legal limit, but traffic routinely goes between 70 and 85 mph, which severely reduces EV range.
4 sure, if I go 75, I see lower efficiency. The 50 avg is pretty common to factor in stops and traffic slow downs, but u r of course correct. I do not disagree.
A cool study, Walter. This looks at a situation where fuel is rather expensive, but electricity must be quite economical. Not as much separation between fuels in US, but I’m sure we’re gaining on price parity. I know my Bolt gets like 100 mpg this time of year.
Bought a Sierra 1500 in 2020 when COVID swung the prices on trade-ins in my favor. Moved a year later and now entering year 4 of a 40 min commute. When I saw Chevrolet offering tremendous financing and incentives on Blazer EVs, I pulled the trigger having enjoyed a Mustang Mach-E rental in Miami in June (I’m a GM guy, if you couldn’t tell 😂). The easiest stat line for me was going from a minimum of $70/week on gas to less than $14. And having a Walmart DCFC testing location offering 1 free charge per day on my commute has it at $0 for now. That alone absorbed every EV price increase (extra battery warranty, insurance, future tires, Autel Level 2 charger and install, etc) and still is putting money back in our pockets. I know a jump from a full size truck to EV is not the norm for savings, but it sure is proving to be a fruitful decision so far! AND, they’re just a blast to drive.
Two things. First being near one of the two WM test sites is gold. Big win. Use the hell out of that while you can. A c-store owner in these parts has one of his unit on free and there is usually a line. Second, the B-EV is big. Don't kid yourself. Mostly the same as our LYRIQ and our LYRIQ barely fits in our garage it is so big. Super spacious.
By my reckoning, EV's have already had a lower cost of ownership for several years, if comparing cars with similar size/performance specs. It's baffling to me how so many people think gasoline is still the future. It's really just a matter of manufacturers stepping up their game.
Another factor that I think will be a big driver of EV adoption going forward is the eventual reduction in interest rates. It's a lot easier to financially justify paying more money up front to save on fuel later if that up-front cost is being borrowed at a low interest rate vs. a higher one.
This is very profound and when you add in the total cost of ownership over a 5-10 period, the economics just makes sense to go fully battery electric. I'm not sure if battery degradation is a CON, because it's expected just like a gas engine. If after 200k miles and I'm still getting 85% battery capacity, that's great. Gas engines also lose efficiency over time (in addition to their poor efficiency and pollution). For road trips, just plan ahead and leave early. The charging infrastructure is much better than 5 years ago and still improving.
Thx! I felt it important to call out the data from the cited source, but I and another commenter agrees with you on the 200k mile study. Thx for watching.
13:48 Interesting. After 7.5 years, my current total cost of ownership is less than $45,000 for my Chevrolet Bolt EV. I guess that's partly due to USD vs CAD, plus the fact that charging used to be a lot cheaper.
Thx for providing real world owner data in rebuttal. The assumptions they worked under to come up with the numbers are cited at the bottom of their report on page 10 "Methodology" if you care to see. As non-owners, they needed work under some what they considered to be fair assumptions. So an imperfect too, but a good estimation, in my view.
@@thenetworkarchitectchannel Yeah. Just a basic CAD to USD conversion puts their numbers pretty close to mine. Also, I'm assuming the actual cost of ownership in California will be higher than other places, including Canada.
Initial cost will still be an issue, but the used market will be interesting to watch. Even if I did not have access to a charger at work, I find that a Level 1 charger is enough for my regular use. I only charge to 70%, but that is enough for over 2 hours before I need to stop at highway speeds.
The the whole road trip charging thing is a big nothing burger in my eye. I just got back from a 10 hr trip to Knoxville to pick up my son. I charged 3 times. Had lunch at the longer stop.
Brakes only last longer if the EV is driven in efficient modes. I’ve seen cases of people driving EVs with regen turned off and needing brakes at 6-7,000 miles due to them having to stop a very heavy high powered vehicle. They also typically go through tires much faster. That said, there’s no comparison; EVs are far less costly to drive and maintain, and much more fun.
Let me start with saying I do have an electric car and I’m happy with it, but I noticed a few cons you have not listed: 1. Unknown future costs for vehicle registration to deal with loss of gas tax. 2. Additional weight of nearly any electric vehicle over an equivalent gas vehicle causes more ware on roads. 3. I would say charging costs are somewhat unpredictable in the future, but then so our gas costs so I will not raise this. Additional strangeness of the Canadian Study: 1. Comparing an all-wheel-drive vehicle to the Tesla rear wheel drive doesn’t seem quite reasonable, especially in an area that has lots of snow and people may wish to have all wheel drive. They did this because of the range difference or to keep the costs lower, seems fishy. 2. I wasn’t sure that the trim levels of that combustion F150 versus the F150 EV were actually comparable. Also, I do not think I would dismiss grid stability issues so easily. Here in northern California we have PG&E as our utility company. They have rolling blackouts in the summer because of air conditioning, this is in San Jose a city of over 1 million people. How on earth can they be dealing with the additional charging if we had 50% of the vehicles electric charging at home? We probably do have 20 to 25% of electric vehicles because of the Skew in this area.
Good points. I think too the depreciation point that was brought up by another commenter valid and should of been in the list. As for CA grid stability, I do not think that has ever been attributed to EV adoption, except in news sensationalize. Instead, I understand their problems to be rooted in regulations. Thank you for your well thought out comment.
Very exciting!!!! When the Tesla model 3 RWD 272 miles per charge was us$30k out the door in December 2023, including everything and less the $10,000 worth of incentives from the feds and the state of Connecticut, I was tickled pink, I was head over heels. I told a Pickleball buddy to go out and buy one and he did!!! that car was so much cheaper than any other ice luxury sedan. I am trying to think what vehicle and what model would be comparable to the 2022 Hyundai Ioniq 5. I think it’s the best driving car and the most comfortable car and a really fast car and a very inexpensive car to operate and I have zero stress on the highway after driving 500 miles……. maybe the Acura RDX?? AnyWho, governments making the correct decision like Ethiopia, for whatever reason, is the only way that we’re gonna get this job done quickly. And I believe it is a war. I have two daughters and it’s all about the air they breathe and the water they drink and the food they eat and right now it is poisoned by the burning of fossil fuels. I am also highly motivated to keep the tax rate down in Connecticut and the federal income tax rate down…… if we have $100 trillion worth of climate disaster, mediation, and mitigation, does that mean my taxes go up?? Will Exxon mobile raise their hand and say will be glad to pay that bill? I can’t imagine who’s gonna pay for all these climate disasters so I’m thinking the sooner we turn the Spicket off the sooner we can try to control our climate and control the huge huge expense. Thank you for a great video. PS you’re losing 21% of every kilowatt hour your utility charges you when you fill up the Volvo at 120 V. Level two lowers the losses to 8%. I know you said it’s not much charge you need due to the quick commute to the train station and that’s fine, but I just wanted you to know.
Ion5 would cross shop with the Nissan Rouge, I believe. Thx for the loss info while using L1. I did not know that. I will take that into consideration.
Ya, both my son and I have a Bolt, and, the new ones are 26,500$ I think as of this year. We both bought used but I think it’s the least expensive of the EV’s. Throw in the (Oregon 5000$ cash rebate) and the Fed tax break and it’s a heck of a deal for less than 19,000$. We love the cars.
0:24 price parody will have little to no effect on adoption rate due to political concerns. EVs’ most ardent supporters and detractors both exhibit tribalistic, almost cultlike behaviors. But let’s talk about the majority of people who lie in the middle. purchase price is only one of many factors why adoptions have been resisted. Considering that for Americans, the vehicle is the second largest purchase consumers make in their lifetimes. The rapid Depreciation rate of EVs has proven to be a major factor in the slow adaptation rate.
I respectfully disagree. You are suggesting consumers are making informed decisions and steering away from EV purchases because of amortization schedules. The people I talk to are no where near as cerebral as you are suggesting aka from the Erudite Class.
@@pyootchnich your implication is unnecessary complexity injected for dubious reasons. That is not the case. You were suggesting purchasing made on such decisions. I respectfully disagree. For people who that is a concern, leasing has become a common alternative though.
If you install a NEMA 6-20 240v/16A outlet, you will not need a permit and the total costs for parts and labour will be much less; you can then charge at 3.8kw/hr by plugging in a generic 240v EVSE (charger) for ~$200usd. If you have an existing NEMA 5-15 (standard three prong 120v outlet) that uses 12-2 wire, you can convert that outlet to a NEMA 5-20 by changing the breaker to 20amps and the outlet to a NEMA 5-20 and then you can charge at 120v/16A or 1.9kw/hr. Total cost, using an electrician and a generic 120V charger might be ~$300usd. However if you drive less than ~30 miles/day you probably only need a standard NEMA 5-15 outlet and a generic charger to charge at 120v/12amps or about 1.4kw/hr.
Wow! You know a lot. We just called a google search I think, but as you say, currently I am getting by with just a wall outlet in the garage. The NEMA 14-50 we had installed is almost never used. Thx for sharing. I am gonna pin this comment. Very useful info.
@@thenetworkarchitectchannel I think there are inefficiencies at lower voltage/amps, you might want to use the 14-50.
Thank you Walter for the reporting on price parity happening in 2024. My EV purchase was on a hunch that economics of ditching ICE was a correct move for my wallet. I feel some satisfaction after viewing your report. I do note that this is a big country and home charging is problematic for a fair amount of drivers in 2024, so achieving price parity is not evenly applied to all drivers. Countries like Norway have found solutions that we are still looking for.
In Norway, the right to charge law I understand has been helpful. Landlords do not have to install chargers, but they can not stop their renters from draping extension cords either.
Being new to EVS a 2022 Chevy Bolt EUV. Did my first cross state road trip around 450 miles. It was one of the most relaxing trips I have done. I charged four times and did 70 mph or less and was very relaxed.
Welcome. Glad it was a fun trip. I like to explore new charging locations when taking a road trip.
Excellent video Walter. Thank you!
Glad you enjoyed it
Hi Walter,
Thank you for reviewing the studies on price parity. Something that I’d advocate for in comparing costs is to include the cost of a 40amp EVSE and allowance for 240v plug install included in the cost of EV ownership, since home charging is key to fuel cost savings.
The comparison study seemed ‘overly sensitive’ to making the EVs fit within the Canada federal government subsidy requirements and helping the EV up front costs stay lower or picking more well-appointed higher price ICE models. A top trim Corolla vs the Bolt EV. A RWD M3 vs AWD Lexus ES250 - maybe AWD (non performance) M3 vs AWD Camry SE? Those ‘could’ cross-shop in terms of luxury level, at least. A standard range F150 Lightning - very few are buying the smaller battery pack truck here in Upstate NY, no less farther north where it’s seriously cold in the winter. The ID.4 Pro (RWD) vs 2WD (front) LX CRV was a closer match.
We are close to parity now, save the higher cost entry point to ANY new EV vs ICE. Fortunately (for non-EV owners), used EV prices have been falling recently so access is improving some there.
I respectfully disagree that parity is not contemporary. If you go to the EVgo link in the description, download the slide deck and look at #6, they reference 38 less than $35k EVs avail in next 18 months. So the TCO is just part of the discussion. Purchase price parity is here too with TCO just an added benefit. The GM options are all at parity with their ICE cousins.
Great video. We've been driving electric for 10 years and this is an exciting time.
I hold mad respect for people such as you who had the foresight and fought through the inception.
@@thenetworkarchitectchannel 10 years here too, but hey EV's were among the first cars in 1900, ICE only took off after they invented the electric starter, so it's not like we are early adopters, we're actually very late adopters!
Excellent information. Appreciate your attention to detail and your ability to "dumb things down" for the masses. I also appreciate your effort in keeping politics out of the conversation. A decision to move to an EV should be made with the facts that are backed by numbers, and not by external influences, left, right, or center.
Good summary of good news, Walter! In my own experience, battery degradation is no big deal anymore. In my last EV, after 6 years and 78,737 miles, its battery was still at 94.35% capacity. We'll see how my current EV holds up: after only 7 months and 5,823 miles, the battery is still at 100%. As for time on roadtrips, I've found that after driving 3 hours straight, I desperately need to visit the restroom, and by the time I've done that… the EV is charged back up to 80%. Again, it's no big deal -in my experience. Naysayers often complain about using their tax dollars to pay for EV incentives, but they rarely, if ever, look at the big picture. Annually, EV incentives amount to $670 million, yet our tax dollars also pay subsidies to the fossil fuel industries to the tune of… $3.7 BILLION! Funny how the pe'trolls never complain about that when attacking EVs. And when it comes to lifetime costs, I can report that, if I'd kept my old Subaru, I would have paid $21,516 more to "fuel" it instead of my EVs. However, to be frank, I never started driving EVs powered by rooftop solar to "save money," but to do my small part to help mitigate the climate crisis. I would thus still do it, even if it cost me more -which in my mind would be the "fine" I should pay for the decades I spent spewing out pollution from tailpipes.
$3.7B a year? Try $1B a day.
@@JohnCap523 Globally that's true and shocking -but that's not solely from American tax dollars.
Concerning road trips, I feel an unspoken concession that while not on road trips EVs are superior is being acknowledged every time someone brings up the road trip issues. For the 50 weeks of the year not on road trips, EVs really shine. As for taxes, I am fine if people do not want to use the free money for EV purchase. More for those who do!
@@thenetworkarchitectchannel I can tell you that, in my case, the government didn't give me one penny for my current EV. The automaker discounted it by the same $7,500 amount, plus $2,500 more for trading in a "competitive" vehicle. I really wouldn't care if the incentives were eliminated, as long as the oil, gas, coal subsidies were also eliminated. Let's level the playing field and will see which drivetrain wins in the "free market."
@@Yanquetino I like free money, no matter who is giving it out. As long as it is green.
Concise comparison that will help folks accurately compare ICE vs. EV. Nice job, as always!
Glad you liked it!
You can also use the customer number increase on evGO as an indicator of more adoption. I think many people don't want EV not due to costs but they believe in the convenience of fueling and current habits. As many EV owners learn after living with an EV, the convenience of fueling at home (80% of the time people are traveling locally from home to work) outweighs going to a service station for gas and maintenance. During road trips most people do not realize how long they take on a stop for a break and or fueling. For myself after living with an EV you can't be all the benefits of the EV over ICE. The only situation that does not will yet is with towing long range, but the Silverado EV and Sierra EV can solve this problem but not at price parity. (And charging stations are not designed like gas stations for pull through). BTW: Great Video, well explained.
Yes, 4 sure. All their numbers were up. It was a very encouraging Q2 earnings report. I think the GM strategy for Towing is to offer diesel trucks for a long while still. Light duty EV all the way IMHO.
@@thenetworkarchitectchannel I agree until battery tech and infrastructure to get better towing can be a challenge. I am happy to see GM light duty can address towing better for the person like myself that pulls out to a lake in the mountains and back. Until more infrastructure trucks like the Lightning just didn't work.
Greetings Walter. Above the door of my office is a sign that reads " In God I trust, all others bring facts and data". Thank you for the effort it took to gather this data and the time invested into the presentation. Good weekend to you sir. Regards H
2 u as well
The Ethiopia news was a neat addition to emphasize the oil dependence in an environment far removed from North America. The "generation agnostic" aspect of electrification is often overlooked but spreading the pool of how we power our vehicles (sunshine, hydro, natural gas, nuclear, and yes, even coal if the region wants it!) to only domestic or friendly nations is a huge advantage of this transition. Thanks, as always, for the comprehensive coverage of the EV space.
Thank you for the kind words Steve. I too was amazed to read about the Ethiopia situation. It makes good sense, so I guess I should not of been but what a dramatic shift is occurring all over. It is an exciting time to be alive.
On disadvantages ...
- Gas cars lose range too after 200k miles
- GM has vehicles reaching 500 miles (Silverado EV) with 350 kW fast charging, you'll see this in the big SUV's soon
- Even charging out of a wall socket at home will get you a surprising amount of range overnight
Thx! I did not know gas cars loose range too. For my Volvo, I see about 15% overnight on a 77 kWh battery. On the weekends more.
The first part of the video is great, giving a concise, unbiased comparison of ICE vs EC. I'll point my friends to this video when they ask about EVs.
The second part is, ummm. Yes, EVs are cheaper when you consider TCO, but a lot of people are only concerned with purchase price. Having said that, some EVs are at purchase price parity with their ICE counterparts, some not. Also, in the US, some EVs receive the $7500 federal rebate (tax credit) which is not reflected in the Canadian study.
Thx! As for the 2nd part, if you go to the EVgo link in the description, download the slide deck and look at #6, they reference 38 less than $35k EVs avail in next 18 months. So the TCO is just part of the discussion. Purchase price parity is here too with TCO just an added benefit.
Driving at 50 mph on an interstate here in California will get you a ticket for obstructing traffic! (Except in metro areas where 50 mph is considered wonderful.
Interstate speeds are 65 or 70 are the legal limit, but traffic routinely goes between 70 and 85 mph, which severely reduces EV range.
4 sure, if I go 75, I see lower efficiency. The 50 avg is pretty common to factor in stops and traffic slow downs, but u r of course correct. I do not disagree.
You should slow down before you kill inocent people.
A cool study, Walter. This looks at a situation where fuel is rather expensive, but electricity must be quite economical. Not as much separation between fuels in US, but I’m sure we’re gaining on price parity. I know my Bolt gets like 100 mpg this time of year.
Great video as always!
Glad you enjoyed!
Bought a Sierra 1500 in 2020 when COVID swung the prices on trade-ins in my favor. Moved a year later and now entering year 4 of a 40 min commute. When I saw Chevrolet offering tremendous financing and incentives on Blazer EVs, I pulled the trigger having enjoyed a Mustang Mach-E rental in Miami in June (I’m a GM guy, if you couldn’t tell 😂). The easiest stat line for me was going from a minimum of $70/week on gas to less than $14. And having a Walmart DCFC testing location offering 1 free charge per day on my commute has it at $0 for now. That alone absorbed every EV price increase (extra battery warranty, insurance, future tires, Autel Level 2 charger and install, etc) and still is putting money back in our pockets. I know a jump from a full size truck to EV is not the norm for savings, but it sure is proving to be a fruitful decision so far! AND, they’re just a blast to drive.
Two things. First being near one of the two WM test sites is gold. Big win. Use the hell out of that while you can. A c-store owner in these parts has one of his unit on free and there is usually a line. Second, the B-EV is big. Don't kid yourself. Mostly the same as our LYRIQ and our LYRIQ barely fits in our garage it is so big. Super spacious.
By my reckoning, EV's have already had a lower cost of ownership for several years, if comparing cars with similar size/performance specs. It's baffling to me how so many people think gasoline is still the future. It's really just a matter of manufacturers stepping up their game.
I bit of public education via word of mouth too.
Another factor that I think will be a big driver of EV adoption going forward is the eventual reduction in interest rates. It's a lot easier to financially justify paying more money up front to save on fuel later if that up-front cost is being borrowed at a low interest rate vs. a higher one.
So true. The car market as a whole is under strain. Not just EVs.
This is very profound and when you add in the total cost of ownership over a 5-10 period, the economics just makes sense to go fully battery electric.
I'm not sure if battery degradation is a CON, because it's expected just like a gas engine. If after 200k miles and I'm still getting 85% battery capacity, that's great. Gas engines also lose efficiency over time (in addition to their poor efficiency and pollution). For road trips, just plan ahead and leave early. The charging infrastructure is much better than 5 years ago and still improving.
Thx! I felt it important to call out the data from the cited source, but I and another commenter agrees with you on the 200k mile study. Thx for watching.
13:48 Interesting. After 7.5 years, my current total cost of ownership is less than $45,000 for my Chevrolet Bolt EV. I guess that's partly due to USD vs CAD, plus the fact that charging used to be a lot cheaper.
Thx for providing real world owner data in rebuttal. The assumptions they worked under to come up with the numbers are cited at the bottom of their report on page 10 "Methodology" if you care to see. As non-owners, they needed work under some what they considered to be fair assumptions. So an imperfect too, but a good estimation, in my view.
@@thenetworkarchitectchannel Yeah. Just a basic CAD to USD conversion puts their numbers pretty close to mine. Also, I'm assuming the actual cost of ownership in California will be higher than other places, including Canada.
Tesla universal wall charger includes the adapter, you don’t need separate adapter
Initial cost will still be an issue, but the used market will be interesting to watch.
Even if I did not have access to a charger at work, I find that a Level 1 charger is enough for my regular use. I only charge to 70%, but that is enough for over 2 hours before I need to stop at highway speeds.
The the whole road trip charging thing is a big nothing burger in my eye. I just got back from a 10 hr trip to Knoxville to pick up my son. I charged 3 times. Had lunch at the longer stop.
Good summary of the state of EVs.
Thx!
Brakes only last longer if the EV is driven in efficient modes. I’ve seen cases of people driving EVs with regen turned off and needing brakes at 6-7,000 miles due to them having to stop a very heavy high powered vehicle. They also typically go through tires much faster.
That said, there’s no comparison; EVs are far less costly to drive and maintain, and much more fun.
Very heavy. For sure. Also wickedly fun to drive...
Very interesting as always... Tesla model y owner. I charge at home with a 5 mile daily drive here😂
Let me start with saying I do have an electric car and I’m happy with it, but I noticed a few cons you have not listed:
1. Unknown future costs for vehicle registration to deal with loss of gas tax.
2. Additional weight of nearly any electric vehicle over an equivalent gas vehicle causes more ware on roads.
3. I would say charging costs are somewhat unpredictable in the future, but then so our gas costs so I will not raise this.
Additional strangeness of the Canadian Study:
1. Comparing an all-wheel-drive vehicle to the Tesla rear wheel drive doesn’t seem quite reasonable, especially in an area that has lots of snow and people may wish to have all wheel drive. They did this because of the range difference or to keep the costs lower, seems fishy.
2. I wasn’t sure that the trim levels of that combustion F150 versus the F150 EV were actually comparable.
Also, I do not think I would dismiss grid stability issues so easily. Here in northern California we have PG&E as our utility company. They have rolling blackouts in the summer because of air conditioning, this is in San Jose a city of over 1 million people. How on earth can they be dealing with the additional charging if we had 50% of the vehicles electric charging at home? We probably do have 20 to 25% of electric vehicles because of the Skew in this area.
Good points. I think too the depreciation point that was brought up by another commenter valid and should of been in the list. As for CA grid stability, I do not think that has ever been attributed to EV adoption, except in news sensationalize. Instead, I understand their problems to be rooted in regulations. Thank you for your well thought out comment.
Now if i could just get any car...
Right? I think I would get a TesModX or a Cadillac Escilade IQ.
Very exciting!!!!
When the Tesla model 3 RWD 272 miles per charge was us$30k out the door in December 2023, including everything and less the $10,000 worth of incentives from the feds and the state of Connecticut, I was tickled pink, I was head over heels. I told a Pickleball buddy to go out and buy one and he did!!! that car was so much cheaper than any other ice luxury sedan.
I am trying to think what vehicle and what model would be comparable to the 2022 Hyundai Ioniq 5. I think it’s the best driving car and the most comfortable car and a really fast car and a very inexpensive car to operate and I have zero stress on the highway after driving 500 miles……. maybe the Acura RDX??
AnyWho, governments making the correct decision like Ethiopia, for whatever reason, is the only way that we’re gonna get this job done quickly. And I believe it is a war.
I have two daughters and it’s all about the air they breathe and the water they drink and the food they eat and right now it is poisoned by the burning of fossil fuels. I am also highly motivated to keep the tax rate down in Connecticut and the federal income tax rate down…… if we have $100 trillion worth of climate disaster, mediation, and mitigation, does that mean my taxes go up?? Will Exxon mobile raise their hand and say will be glad to pay that bill? I can’t imagine who’s gonna pay for all these climate disasters so I’m thinking the sooner we turn the Spicket off the sooner we can try to control our climate and control the huge huge expense.
Thank you for a great video.
PS you’re losing 21% of every kilowatt hour your utility charges you when you fill up the Volvo at 120 V. Level two lowers the losses to 8%. I know you said it’s not much charge you need due to the quick commute to the train station and that’s fine, but I just wanted you to know.
Ion5 would cross shop with the Nissan Rouge, I believe. Thx for the loss info while using L1. I did not know that. I will take that into consideration.
It's SFU; Simon Fraser University.
I took the liberty of adding the research part to add color to the charter, but u r correct. Thx 4 chiming in.
@@thenetworkarchitectchannel SFU is my Alma mater!
I don't agree with that yet. As there is no 20k to 25k new EVs available yet. It's coming down but we are not there yet.
The Bolt retailed for $25k - before tax credits - before it was discontinued.
& it's coming back!
Ya, both my son and I have a Bolt, and, the new ones are 26,500$ I think as of this year. We both bought used but I think it’s the least expensive of the EV’s. Throw in the (Oregon 5000$ cash rebate) and the Fed tax break and it’s a heck of a deal for less than 19,000$. We love the cars.
Great used EVs for under $25k is available today.
0:24 price parody will have little to no effect on adoption rate due to political concerns. EVs’ most ardent supporters and detractors both exhibit tribalistic, almost cultlike behaviors. But let’s talk about the majority of people who lie in the middle.
purchase price is only one of many factors why adoptions have been resisted. Considering that for Americans, the vehicle is the second largest purchase consumers make in their lifetimes. The rapid Depreciation rate of EVs has proven to be a major factor in the slow adaptation rate.
I respectfully disagree. You are suggesting consumers are making informed decisions and steering away from EV purchases because of amortization schedules. The people I talk to are no where near as cerebral as you are suggesting aka from the Erudite Class.
@@thenetworkarchitectchannel there’s no reason to make it sound more complicated than it is. EVs aren’t holding their value as well as ICE
@@pyootchnich your implication is unnecessary complexity injected for dubious reasons. That is not the case. You were suggesting purchasing made on such decisions. I respectfully disagree. For people who that is a concern, leasing has become a common alternative though.
People who are concerned about depreciation can also buy used. That's what I did a few weeks ago, and I'm extremely happy with my IONIQ 5.
Except try buying one for real and they arent
Yes, you are right. Just kidding. You are wrong.