EVs: a buyer’s guide
You’ve decided to join the EV owners’ club, so chances are you’ve familiarised yourself with the terminology and tech.
Along with features such as size and safety, you’ll need to consider some EV-specific issues like range and charging infrastructure. Our guide will help prepare you in the search for an EV.
What’s on the EV market?
The EV market is expanding rapidly, and you can now find models from nearly 30 manufacturers. Prices are trending downwards and start with the GWM Ora at $35,990 to the awe-inspiring Rolls Royce Spectre, with its price tag of $1 million.
As with internal combustion engine (ICE) vehicles, you must consider space, safety, tech and ongoing costs when purchasing an EV. The other big consideration is how the vehicle is powered.
BEV, PHEV or hybrid?
Battery (BEV), plug-in hybrid (PHEV), and hybrid are the mainstream choices available in Australia.
Hybrid vehicles combine an ICE with an electric motor, which reduces fuel usage considerably. They’re best for city driving when the electric motor does most of the work and recharges the battery during deceleration. When driving on the freeway, hybrids run mainly on petrol, so the cost and environmental benefits decrease.
A PHEV also combines an ICE with an electric motor, but it has a bigger battery than a standard hybrid, which can be charged from a power source. PHEVs can travel 40km to 100km on electricity before the engine takes over and cost up to $20,000 more than their ICE counterparts.
Now, turning the spotlight to BEVs – the focus of this article. A BEV runs solely on the electricity its onboard battery stores and requires regular charging from an external power source. With electricity costing roughly a third as much as petrol or diesel per kilometre travelled, BEVs have significant cost advantages. The savings increase further when using solar-generated power for charging.
What BEV suits my needs?
Think about your lifestyle and ask yourself what you want from your new vehicle. Do you have a large family and need something roomy, like the Kia EV9? Perhaps you’re a couple and want something smaller with decent storage space, like the Tesla Model Y or Hyundai IONIQ 6. Maybe you’re after a van like the LDV eDeliver 9 or a sports car like the Porsche Taycan.
As for safety, ANCAP rates EVs according to their crash test performance in the same way they do ICE vehicles, so look for a 5-star rating. When shopping, you’ll find standard tech like climate control and Bluetooth, but also EV-specific options like Vehicle to Load and dog-detection mode. In the future, bi-directional charging, where the car’s battery powers your household, will also be a mainstream and popular feature. As they say, you get what you pay for, so do your homework and decide which features are important to you.
What are the ongoing costs?
The biggest BEV saving is the cost of electricity, compared with petrol, diesel or gas. According to the EV Council, the average Australian drives around 12,000km per year and spends about $2500 on petrol. This equates to about $0.20/km. On average, a BEV travelling 12,000km each year would cost about $500 to charge ($0.04/km). That’s an annual saving of $2000 on fuel.
With fewer drivetrain parts, EV servicing is generally cheaper. However, you’ll still need to service, repair or replace items such as brake and suspension systems, the 12-volt battery and fluid reservoirs.
BEV tyres are more costly as they’re designed to be quieter and stronger to compensate for the vehicle’s extra weight and higher torque, so expect to pay more at replacement time.
When it comes to insurance, you won’t need a specific EV policy, because most comprehensive car insurance policies on the market already cover EVs. The price you pay for insurance depends on various factors, but you’ll find that EV insurance can be comparable to ICE vehicles.
How far can I go on a full charge?
Think about how far, and how often, you’ll drive your BEV. If it’s mainly for short trips, or it sits in the garage for much of the week, range anxiety (the fear of running out of charge) won’t be a problem. However, if you regularly drive longer distances in rural areas, the number of kilometres you can travel on a single charge is more relevant.
A bigger, long-range battery that gives you an extra 100km from a charge can add $10,000 or more to the purchase price, so if you’re opting for that make sure it’s justified in your circumstances. If you love a road trip don’t be put off, because the average battery capacity of a BEV will still give you a range of about 300km from a single charge. When travelling further, check where the public charging infrastructure is along your route (more on that later).
If you need to recharge, rapid (150kW) or ultra-rapid (200kW) chargers will do the trick in 15 to 45 minutes. This will allow you to stretch your legs while you have a coffee and a bite to eat.
Most manufacturers provide an eight-year or 160,000km traction battery pack warranty and guarantee at least 70 per cent capacity after that period or distance. While most BEV batteries are designed to last the life of the vehicle, 2024 replacement costs are about $11,800 for a 40kWh battery (as in a Nissan Leaf ZE1) and $24,300 for an 82kWh battery (as in a Tesla Model 3 Long Range).
Keep in mind, though, BEV batteries rarely need replacing. Increasingly sophisticated battery management software and cooling technology (which will likely improve) means batteries should outlive the vehicles. The price of lithium-ion batteries has also been decreasing steadily. According to forecasts by energy research organisation BNEF, EV battery replacement costs are expected to drop by nearly 40 per cent by 2030.
Where can I charge?
With Australia’s geography and highly urbanised population, access to public EV charging infrastructure has traditionally been challenging. The good news is that SA has more public fast chargers per registered EVs than any mainland state. This is largely because of the RAA Charge network. When completed later
this year, RAA Charge will have 140 EV charging sites across the state, with 75 per cent in regional areas. Most are less than 200km apart and well within the driving range of the average EV. As more public chargers appear, range anxiety will soon be a thing of the past.
Finally, think about when and where you’ll charge your EV. If you drive infrequently, charging overnight with a standard wall socket (trickle charging) takes longer but might be sufficient. If you drive medium to long distances each day, you might want to install a fast charger at home. Think too about where you’ll charge your BEV if your residence has no off-street parking. Will you get by with public chargers or need to make alternative arrangements, like charging your BEV at work?
What’s the bottom line?
The future is electric but there are lots of factors to consider before making the switch. And we’ve only scratched the surface.
Before you sign on the dotted line, arm yourself with plenty of knowledge to be confident. Be sure to check out our article about test-driving an EV.