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Busy? Try the speed read.

Big picture: GM announced plans to release an electric Hummer in 2023. It got me thinking, is it time to make the switch to electric vehicles?

Benefit of electric vehicles:

  1. Lower carbon footprint... social impact ✓
  2. Lower maintenance costs... convenience factor ✓
  3. Tax credits... financial incentive ✓

Cost of electric vehicles:

  1. EVs require minerals like cobalt and lithium to function. Mineral mining is a tough industry with poor standards in developing countries like Bolivia and Chile. Organizations are working to change that.
  2. Electric vehicles have a limited driving range compared to their gas cousins. You may find yourself charging up more than usual.
  3. High sticker prices: The average price of a new electric vehicle is almost double the price of a gas car.
  4. Limited amount of charging stations: this is a tricky one, because there are still more charging stations per EV on the road than there are gas stations for gas cars. Unless you go on a road trip, most of your charging will probably be at home anyway.

Bottom line: With billions of dollars flowing in, electric vehicles are not only here to stay, they are booming.

If you 1) need a car in your life 2) want to be a part of a cleaner future and 3) can afford the extra monthly cost (for now), then making a switch to electric vehicles is the right thing to do.

Dig deeper ➝ 3 min

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