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Here at Renault Retail Group, we've been on a mission to cut through the noise surrounding electric vehicles (EVs). In this, the final instalment of our special series, "EV Myths: Charging up the Truth," we're tackling the last few stubborn misconceptions with the cold, hard facts.
With over a decade of EVs on our roads and billions of battery-powered miles logged globally, we're not just guessing; we're using real-world experience and robust data to set the record straight once and for all. It's time to separate fact from fiction and navigate the web of misinformation that too often clouds the conversation around electric cars.
The idea of synthetic, or E-fuels, sounds appealing: combine CO2 with hydrogen, use it in conventional combustion engines, and if produced with 'green hydrogen', you reduce carbon emissions. Sounds like a win-win, right? Not quite, say the experts.
According to the IPCC, these fuels are "up to three times more expensive than conventional fossil fuels". What's more, they require as much as five times the electricity to produce compared to the amount of electricity used directly by EVs. Transport & Environment has calculated that the lifecycle emissions from an EV in 2030 would still be 53% lower than for a combustion-engine car powered by synthetic fuels.
The IPCC suggests that due to "high costs and limited scales," the adoption of synthetic fuels will likely focus on sectors where electrification is more challenging, such as aviation, shipping, and long-distance road transport. While German automakers did lobby for an exemption for E-fuel cars in the EU's 2035 combustion car ban – a move aimed at continuing to build ICE engines – the reality of the economics is stark. Current cost data suggests E-fuels could be around 40% more expensive than petrol and diesel, potentially costing up to £2.50 a litre at the pump, meaning filling a 75-litre tank could set you back £200.
While there's an argument that these fuels could help partly decarbonise the existing combustion car fleet, until prices drop significantly, it remains an expensive and only partially low-carbon option for most consumers.
In January 2024, a significant milestone was reached: the millionth battery electric car hit UK roads, according to the SMMT. 20,935 EVs were registered that month – a 21% rise year-on-year, pushing the EV market share to 14.7%.
However, digging deeper reveals a nuanced picture. While fleet and business demand for EVs surged by 41.7% in January, private sales of EVs saw a decline of 25.1%. This fall in private car sales isn't entirely surprising when you consider the current economic headwinds – a global recession, 14 interest rate hikes since 2021, and declining disposable income and confidence.
This has created a noticeable gap between fleet and private new EV sales, exacerbated by the lack of specific subsidies or tax breaks for retail buyers and the shift of the 2030 combustion car sales cut-off date to 2035. And, as we've explored throughout this series, a "blizzard of anti-EV narratives across social media, print, web, and TV" has undeniably confused private buyers and encouraged them to wait.
But there's a different story unfolding in the used EV market. January saw second-hand EV sales almost double, rocketing by 90.9% to a record 118,973 units. Auto Trader attributes this surge to more attractive prices and a softening in supply that had previously driven prices down in 2023. As Richard Walker, Auto Trader’s data and insight director, aptly put it: "For the moment we’re seeing the stars align for second-hand EVs: greater affordability and rising prices at the pumps is helping make them a more viable alternative to their ICE counterparts”.
The reality is that EV myths and misinformation are "out of control". The House of Lords Environment and Climate Change Committee, in its 2024 report on EV strategy, even noted a "concerted campaign of misinformation about EVs in recent months". This "concerted campaign" highlights that what we're seeing isn't just organic hearsay; it's a deliberate effort that has destabilised the EV market, confused consumers, and frustrated car makers.
While the origins of this misinformation remain unclear, our advice is simple: if you truly want to understand electric cars, how they perform, and whether they suit your lifestyle (because they might not for everyone, and that's okay), don't take all the myths and misinformation at face value.
Instead, talk to one of the million people now driving around the country in their EVs. They will tell you the unvarnished truth – both the positives and the negatives. And ask yourself one final, counter-intuitive question: should you really take seriously information about why you shouldn't buy an electric car that's been posted, written, or broadcast by those who have never owned, driven, or even charged an EV?
Think about that one.