Everything you need to know before joining the EV revolution

 

Over the past six months, many people have wondered whether it is the right time to buy an electric vehicle (EV).

There is a real fear among motorists of missing out on the EV boom, with the market having swelled from there being just three EV models for sale in 2019 to the 21 currently on our roads.

People are starting to realise that in some situations, it’s justifiable to make the switch to electric if they already plan on spending RM100,000 to RM350,000 on a car.

Here are the simple facts:

Malaysia’s prices are among the best you’ll find anywhere. It’s the second cheapest place in the world to own a Tesla Model Y, and the price of the locally-assembled Mercedes-Benz EQS is one of the most competitive in the world.

BYD and Tesla, the world’s top two EV makers, are directly invested in Malaysia as importers which means their warranties will be among the industry’s best.

Both are fiercely technologically competitive, with Tesla’s progress driven by Elon Musk’s goal of accelerating the world’s transition to sustainable energy by making EVs accessible to a broad range of consumers.

These are on top of the government’s efforts to encourage early adopters through financial benefits, further driving down the cost to consumers.

But there are still a host of things prospective buyers need to consider before making the switch.

You’ll need to be living in a house with a covered garage and your monthly metered TNB electric bill will need to be below RM700 or the applicable surcharge rate.

You must have a regular schedule that will allow you to arrive home by 10 pm and be awake at 8am so that the vehicle can be charged regularly.

Even though the average EV has an approximate range of 400km, you don’t want to be averaging more than 200km a day just to be safe.

You will need to invest in a wall charger which would cost a minimum of RM1,800 if bought from Shopee, and cover electrical supply and installation costs that will run roughly to RM2,000. That said, many makers are currently offering to install free wall chargers – for now.

Prices vary significantly. The BYD Dolphin is a strong budget option starting at around RM100,000, while one could pay as much as RM350,000 for the Mercedes Benz EQB 350.

If you have the money and fit the conditions that I’ve spelt out above, then to shun an EV right now would mean really losing out.

The main qualifier to note: Malaysians don’t yet have a point of reference for the maintenance costs for Chinese-made EVs, unlike the case of Tesla, which has sold EVs in the United States since 2008 and has data to show that their maintenance costs are generally lower than those of equivalent internal-combustion cars.

Generally though, the two biggest EV makers in the world got to where they are by being relevant to customers’ needs and delivering value-for-money.

But I hear you saying, “what about plug-in hybrid electric vehicles (PHEV)?”

They’re still a great option, and are still a positive step towards emissionless motoring. PHEVs provide significantly superior fuel economy compared to combustion engines and if charged regularly, owners may only need to visit the petrol pump once a month. The main drawback is the lack of tax incentives available.

As for me, I’m installing a wall charger in my house and waiting eagerly for the chance to get a good, used EV with zippy acceleration to fulfil my daily urban driving needs.

The views expressed are those of the writer and do not necessarily reflect those of MMKtT.