Category: Auto

Everyone seems to have announced new EVs this year, and that’s just the start.

When children of the future read about the transition from gas-powered vehicles to EVs, the first part of 2022 may be the tipping point. 

Ford split in half, Tesla broke more records, everyone announced a new EVs (even DeLorean), charging infrastructure improvements are promised, the postal service is going electric, and charing is now officially cheaper than fueling.

If that sounds like a lot to you, don’t worry. We’ve got it broken down here, plus links if you’re a nerd like we are.

Everyone Announced EVs in Q1

It feels like new EVs are announced every single day. There are so many we can barely keep up. 

Thankfully Car and Driver put together a list of something like 60 EVs we can expect to see in the next five years, but it doesn’t even include some of the announcements made in the last few months.

Here are the models we’re most excited about.

EV Charging Prices Are Cheaper than Gas

Soaring gas prices have a lot of us asking if EV charging prices are cheaper than gas. We break it down as gas and electric duke it out (Spoiler: Charging is WAY cheaper than fueling)!

Hopefully, this means you’ll be spending less money on transportation in the coming years. And if you can’t afford EVs now (most can’t) chances are they’ll be available in every price range soon.

It’s Easier Than Ever to Try EVs

Research shows that a major barrier to entry for EVs is that most car buyers are unfamiliar with the technology. So rental companies like Hertz and Enterprise are buying up EVs in large quantities in order to give people an opportunity to test drive electric models.

On top of that, Tesla subscriptions have made Kyte the Netflix of Teslas. That’s right, rental company Kyte is testing out short-term Tesla subscriptions in New York and California this summer. 

Tesla Still Breaking Delivery Records

Speaking of Tesla, they’re absolutely on fire when it comes to production and delivery. 

Tesla produced more than 305,000 cars and delivered more than 310,000 during the first quarter of 2022. And the company achieved these numbers despite COVID outbreaks forcing two extended shutdowns at its Gigafactory in Shanghai. The factory performs final assembly of Model 3 and Model Y vehicles. 

EVs are Going Postal

The US Postal Service announced it’s going to order more than 10,000 electric vehicles as a part of its larger order of 50,000 “next generation” delivery vehicles.

Here’s what Postmaster General Louis DeJoy had to say: 

“We owe it to our carriers and the communities we serve to provide safer, more efficient vehicles to fulfill our universal service obligation to deliver to 161 million addresses in all climates and topographies six days per week.”

Charging Stations of the Future are Unveiled

Electrify America announced new “Human-Centered” EV charging stations and the fueling stations of the future look like… well gas stations (and Apple stores). 

Electrify America is calling its new EV charging stations a “customer oasis.” Quite frankly, they do seem like a nice place to spend 30 minutes while you charge up your monstrous F-150 Lightning.

F-150 Lightning Crushes Distance, Hauling, Weather Tests

It feels like just yesterday when everyone thought an electric engine was no match for good-‘ole American combustion engines. But here we are — the most capable truck on the market might soon be an EV. We can’t wait to see the Denis Leary commercials for these trucks. “Plug into your inner tough-guy, and plug into the Ford F-150 Lightning. That’s right, lightning. Because these big tough trucks can tackle any job.”

This truck hauled a 10,000 load up the steep and frigid Ike Gauntlet in the snow. And then it hauled the same load across the sweltering Davis Dam which rises 3,000 feet in 11 miles. And it can drive more than 300 miles on a single charge.

Ford is so bullish on EV production that it split its operations in two this year in an effort to grow its EV line even faster.

EVs, EVs everywhere, but no charging stations to be seen.

Where are all the charging stations when you’re EV is on E? 

The rise in EV ownership has not quite been mirrored by the number of available charging access. And this is especially true when you get outside of metro areas. 

How Many Charging Stations Are there?

While charging stations are readily available in most cities, the number of stations between metro areas makes long-distance EV travel difficult. This map shows the density of available Shell gas stations compared to the much fewer available Tesla Superchargers.

The United States has 46,000 charging stations and 113,000 charging ports. But that doesn’t mean there is a balanced distribution all over America’s highways. In fact, most all charging ports are in metro areas. So the EV road trip is still a little ways off.

For example, the country’s most car-focused city (Los Angeles), has 2,434 charging ports, more than a third offer free charges. 

But compare that with the 266 charging ports in Carmigo’s home state of Mississippi. When we say “ports,” think gas pumps. That’s not 266 “electric gas stations,” it’s 266 plugs. 

This means charging is a little tricker for rural folks to make the switch to EV since electric cars still can’t drive quite as far as gas-powered vehicles. 

Is This Forever?

Electrify America announced new “Human-Centered” EV charging stations and the fueling stations of the future look like… well gas stations.

Of course not. 

But President Biden has outlined a plan to have 500,000 EV charging locations in the US.

And we’ve written about Electrify America’s plans to create the charging station of the future. 

So while we may not be ready for the EV road trip yet, it’s close enough for us to start planning.

The Fueling vs. Charging fight might be over.

In the green corner, weighing in at 49 KW-hrs per 100 miles with an incredibly unreliable network of charging stations, it’s EV CHARGING PRICES! 

In the red corner, weighing in at nearly $4.50 per gallon, the reigning champion, he’s rude, he’s crude, and he’s in a mood! FUELING!

Soaring gas prices and increased EV visibility have a lot of us asking, “Are EV charging prices cheaper than gas?”

So, Are EV Charging Prices Lower?

Yes.

According to the EPA, a Ford F150 uses 4.5 gallons of gas to drive 100 miles. And the same agency clocked the F150 lightning at 49 kilowatt-hours per 100 miles. 

(For the purposes of this conversation, a Kilowatt-hour is simply a way of measuring electricity.  There is a real explanation for the meaning, but I don’t know it.) 

So we crunched the numbers ourselves and fueling is about three times as expensive as charging. That starts to pay for the sticker price differences. 

A report from Zeta paints a fuller picture by breaking down the specific price differences for 16 states.

The report also points out that the electric grid is less volatile than the gasoline market.

Here’s what Zeta’s CEO, Joe Britton, has to say, “EV charging costs are not dependent on global oil markets—and are therefore not subject to the same price shocks, disruptions, and supply shortages.”

What About Vehicle Costs?

The other consideration in the price comparison is the cost of maintenance. And, combustion engines have WAY more moving parts than EV engines, so repairs will likely be needed more frequently. 

For more on that, Consumer Reports has a great breakdown of operating and maintenance expenses. To sum it up, operating and maintenance costs can be $1,000 to $3,000 more per year for gas-powered vehicles. 

And with each new EV model hitting the lot, sticker prices are going down. So much so that many industry experts predict prices to be even between EVs and gas-powered cars in the next five years. 

What Do EV Charging Prices Mean for You?

Hopefully, it means you’ll be spending less money on transportation in the coming years. Even if you can’t afford an EV now (most can’t) chances are they’ll be available in every price range soon.

That’s right, this car rental company is offering Tesla subscriptions

Kyte is launching this month in the San Francisco and New York City areas, giving people the opportunity to sign up for monthly Tesla subscriptions. 

While the “subscription” model is new to the car rental industry, the concept seems familiar. Here’s how Kyte’s website describes the service: 

“All you have to do is make your monthly payment, and we take care of the hassle of owning a car.” 

That sounds a lot like leasing to us. But hey, there’s nothing wrong with using a rebrand to reach a new audience. 

How are Kyte’s Tesla Subscriptions Different?

Kyte is different from legacy rental and leasing options because they source vehicles from multiple sources including traditional rental companies. 

And on the user-facing side, the entire process is done on mobile. As it stands, most rental companies offer online reservations but a great deal of in-person interaction is also required. No rental counter paperwork with Kyte. 

In short: These cars are a happy medium between ride-sharing and car ownership. For instance, you may not need a car for the next five years. And maybe you need to drive a little farther than a ride-sharing app will take you.

Can You Rent a Tesla other Places?

Absolutely. 

As we said in our story about traditional EV Rentals, a major barrier to entry for EVs is that most car buyers are unfamiliar with the technology. So rental companies like Hertz and Enterprise are buying up EVs in large quantities in order to give people an opportunity to test drive electric models.

Since rental cars are more associated with airports than luxury, Kyte may be cashing in on a perception problem in the rental car industry. 

So if you’re thinking about a Tesla, but not ready to commit, consider renting one.

Want to try a Tesla? Rental EVs may be the way to go

Hertz’s recent commitment to purchase more EVs has us thinking about how rental EVs will affect the larger market.

Rental companies purchase about 10% of new cars in the US each year, meaning their decisions have great sway outside of their rental niche. 

Hertz Is Bullish on Rental EVs

Hertz has made the biggest media splash regarding EVs. In 2021, the company announced it would purchase 100,000 more Teslas. And then last month, it announced its intention to buy 65,000 Polesar EVs. 

The rental company intends to have 20% of its fleet made up of EVs by the end of 2022. 

The Rest of the Industry Is Too

Enterprise Holdings, which owns Enterprise, National, and Alamo, has also committed to expanding its EV fleet to meet customer demands. The company has said customers are using the rental company to try out EVs for the first time.

What Do Rental EVs Mean for the Rest of Us?

As we said earlier, rental companies purchase a significant chunk of the US new car inventory each year. 

But this isn’t necessarily a case of, “As the rental companies go, so does the marketplace.” In fact, large purchases by rental companies have typically corresponded with a devaluation of that model. Plus selling to rental companies typically brings in less revenue and dilutes the resale market. 

But, since electric vehicles are an emerging trend, partnering with rental companies could be a strong strategic move for EV companies. 

Research shows two major barriers to entry for new consumers are a general lack of knowledge and trust in the new technology. 

So now might actually be the time for you to try out a couple of EVs without paying loads of cash for a Tesla.s

And some of these EV models look like spaceships

It feels like new EV models are announced every single day. There are so many we can barely keep up. 

Thankfully Car and Driver put together a list of something like 60 EV models we can expect to see in the next five years, and it doesn’t even include some of the announcements made in the last month.

And even though that list was published this year, it’s missing a ton of new EVs.

There were at least a dozen new EV models announced in the last month or so. Here are a few we’re excited about:

Wait a minute, Doc. Are you telling me you built an EV?

For instance, DeLorean tweeted a teaser for a new EV earlier this week.

Let’s clear things up a bit. The next generation of DeLorean is coming into focus August 18, 2022. For more information read the press release here: https://t.co/Q4Rax2aBC1 #DeLorean #DeloreanEVolved #firstlook pic.twitter.com/H0t0i4ODqv

— DeLorean Motor Company (@deloreanmotorco) April 4, 2022

The car is slated to be on display at the Pebble Beach Concours d’Elegance on August 21. But according to this tweet, the new DeLorean will officially be unveiled three days earlier. 

Honda has been busy.

Honda announced partnerships to make both high-end and affordable EVs. 

And they’ve teamed up with GM to create EVs for people currently priced out of the growing market. The new project aims to develop a line of compact crossovers that retail for under $30,000.

And the Japanese automaker is also partnering with Sony to create a much more expensive line of electric cars for those who enjoy the finer things in life. 

But that’s not all (for the luxury EV models).

Maserati, Rolls Royce, and Mercedes-Benz have all entered the chat. 

The Rolls Royce, which was announced last year, completed winter testing a few miles south of the arctic circle last month.

Meanwhile, Maserati announced its line of EVs called Folgore (Italian for lightning). 

And Mercedes-Benz teased the unveiling of its EQS, the first SUV in its EV stable. 

What Do These EVs Mean for You?

The more the market transitions to Electric Vehicles, the more EVs we’ll see on the resale market, meaning they’ll begin to be even more affordable.

At the same time, it’s good to see auto manufacturers innovating on both the economy and luxury ends of the spectrum. Making the latest technology available to all is key to innovation. 

But the changing EV landscape isn’t just for EV enthusiasts. As automakers switch production lines to electric vehicles, we suspect the demand for used combustion engine vehicles will continue to tick up. And as we all know, reduced supply and increased demand drive prices up. 

Take good care of that combustion engine and it could make you some serious money one day. When you’re ready to sell, give us a chance to sell it for you.