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Electric vehicles (EVs). They're on our roads, they're gaining popularity, and they're also the subject of more misinformation than a conspiracy theory forum. At Retail Renault Group, we believe in empowering you with facts, not fiction. That's why we're launching this series, "EV Myths: Charging Up the Truth," to tackle some of the most persistent misconceptions surrounding electric cars.
It can feel like every other day there's a new headline claiming EVs pollute more, their batteries are ticking time bombs, or they're a fire hazard on wheels. These misinforming narratives often take root on social media, fuelled by misunderstanding, vested interests clinging to fossil fuels, and even political polarization. But the reality is, millions of EV owners in the UK drive reliably every day, proving the technology works.
With over a decade of EVs on our roads and billions of electric miles driven, there's a wealth of real-world data available to separate fact from fiction. So, buckle up as we dive into some of the most common EV myths and charge them head-on with the truth.
EV MYTH #1: EVs are much more expensive to buy than petrol or diesel cars.
While this might have been true for some models initially, the landscape is changing rapidly. The price gap between new EVs and their petrol or diesel counterparts is narrowing significantly.
Recent research by Auto Trader in November 2023 highlighted that the once substantial £20,000 price difference between a new Tesla Model 3 and a petrol BMW 3 Series had shrunk to a mere £950 between base models. This is due to a combination of factors, including manufacturers actively discounting new EVs amidst fluctuating market demand and even some petrol car prices increasing. The gap between a new electric VW iD3 and a petrol Mercedes A Class is now down to £4,115.
Furthermore, the second-hand EV market is reaching price parity with internal combustion engine (ICE) vehicles. Auto Trader reports that used EVs are now the fastest-selling fuel type on their site, selling quicker than petrol or diesel cars. In February 2024, sales of used battery electric vehicles almost doubled!
Looking ahead, market research firm Gartner predicts that by 2027, EVs will be, on average, cheaper to produce than combustion cars due to lower manufacturing costs. As Pedro Pacheco, Vice President of Research at Gartner, states, "New technology means BEVs will reach ICE cost parity much faster than initially expected."
The Truth: While some initial price differences existed, new EV prices are becoming increasingly competitive, and the used EV market is rapidly aligning with ICE vehicle values.
EV MYTH #2: EV batteries have a short lifespan and will need replacing every few years.
This myth often stems from our experience with the lithium-ion batteries in our phones, which degrade over time. However, EV batteries are built with different chemistry and significantly more robust management systems.
To instil confidence in the technology, most car manufacturers now offer eight-year, 100,000-mile (or more) battery warranties on their EVs – often exceeding the warranty cover on the internal combustion engine itself.
A 2023 study of 15,000 EVs by Recurrent Motors found that only 1.5% of batteries in the study had been replaced under warranty. Tesla's 2022 Impact Report indicated that battery degradation (loss of capacity) in their older Model S and X vehicles after a staggering 200,000 miles is just 12%. Independent EV repairers like Cleevely EV Mobile regularly showcase high-mileage EVs with hundreds of thousands of miles on the clock still retaining over 85% battery capacity.
Currently, there is no data to suggest widespread, premature, or unexpected failures of EV batteries. Industry experts widely agree that EV batteries will generally outlast the chassis of the car. As the saying goes, if EV batteries were failing en masse, you'd likely read about it in every newspaper!
The Truth: EV batteries are designed to be durable, with most manufacturers offering long warranties. Real-world data shows very low failure rates and gradual degradation over high mileage.
EV MYTH #3: Electric cars are more likely to catch fire than petrol or diesel cars.
Safety is paramount, and the idea of EV fires can be concerning. However, the data paints a very different picture.
The fire service estimates around 100,000 vehicle fires occur annually in the UK. Records for 2022-2023 show only 239 of those were EV fires – a mere 0.24%.
The Swedish Contingencies Agency has reported that "Petrol and diesel cars are 20 times more likely to catch fire than EVs." Their 2022 data showed only 23 EV fires out of 611,000 vehicle fires – an astonishingly low 0.004%.
Richard Billyeald, CTO of Thatcham Research, stated in a 2022 Forbes interview that "Our latest research indicates that the risk from a fire from an EV is less likely than for ICE vehicles." American data from the National Transportation Safety Board also supports this, reporting 25 fires per 100,000 EVs sold compared to a staggering 1,530 fires for every 100,000 petrol vehicles. A 2023 report by US insurer AutoinsuranceEZ concluded that "based on this data electric cars don’t catch fire nearly as much as the news claims.”
The Truth: Statistical evidence overwhelmingly indicates that electric cars are significantly less likely to catch fire than their petrol or diesel counterparts.
Stay Tuned for More Truth!
This is just the beginning of our "Charging Up the Truth" series. In the coming posts, we'll be tackling more common EV myths, providing you with the factual information you need to navigate the world of electric vehicles with confidence. Stay tuned to Retail Renault Group for more myth-busting insights!