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July 17, 2019 | Driving an EV is Cheaper

Danielle Park

Portfolio Manager and President of Venable Park Investment Counsel (www.venablepark.com) Ms Park is a financial analyst, attorney, finance author and regular guest on North American media. She is also the author of the best-selling myth-busting book "Juggling Dynamite: An insider's wisdom on money management, markets and wealth that lasts," and a popular daily financial blog: www.jugglingdynamite.com

The most compelling argument for owning an electric vehicle is they cost much less to run than ICE (internal combustion engines). On average they are about 94% cheaper to fuel, 25% cheaper to insure, and 90% cheaper to maintain. With a fraction of the engine parts to replace, repair and maintain, they also tend to last hundreds of thousands of kilometers longer than the average ICE automobile. By 2022, new EV’s are also expected to be cheaper to buy than new ICE autos.  Already used EVs are competitive with comparable new ICE brands. Only those who don’t yet own an EV argue against them.

This week we begin our Green Energy Futures/CKUA Radio series “Life with an EV” with the story of Ed Ma and Rhonda Blair of Calgary, Alberta. Ed purchased a Tesla Roadster almost 10 years ago–and that was only the beginning of their romance with electric vehicles. Find out why–once smitten with the EV bug–drivers never go back after driving electric. Here is a direct video link.

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July 17th, 2019

Posted In: Juggling Dynamite

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