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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:
- Lower carbon footprint... social impact ✓
- Lower maintenance costs... convenience factor ✓
- Tax credits... financial incentive ✓
Cost of electric vehicles:
- 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.
- Electric vehicles have a limited driving range compared to their gas cousins. You may find yourself charging up more than usual.
- High sticker prices: The average price of a new electric vehicle is almost double the price of a gas car.
- 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.
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