In light of the upcoming legislation to end the sale of new petrol and diesel cars by 2030, the need for electric cars has never been more prevalent. Global concerns about climate change and sustainability have prompted countries to tackle environmental issues with differing approaches. And for the UK, the petrol and diesel ban is viewed as a necessary next step in reducing emissions.
So, do electric cars still signal the future of transport in this country? And are experts on board with it? Here’s what you need to know.
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What types of electric vehicle are available?
There are a number of electric vehicle types available on the market, giving you a range of options to choose from:
- All-electric vehicles: The vehicles are sourced solely by their battery
- Hybrid vehicles: A combustion engine paired with an electric motor is what charges the car while travelling
- Plug-in hybrids: Similarly to hybrid vehicles, these vehicles use a combustion engine and a rechargeable battery, however, they need to be plugged in to be recharged
- Fuel-cell vehicles: These vehicles use onboard fuels such as hydrogen to generate electricity and don’t need to be plugged in to be recharged
Most industry professionals are onboard
The primary goal of the petrol and diesel ban runs alongside the UK’s mission to reach net zero by significantly cutting down carbon emissions. Sadiq Khan has also announced plans to extend the Low-Emissions-Zone (ULEZ) to greater London, prompting travellers to choose public transport or electric vehicles over more pollutive modes of transport. Many industry professionals are on board with the EV transition to improve sustainability targets linked to reducing carbon footprint and emissions.
Popularity continues to increase
According to recent reports, the demand for new cars has reached an all-time low, while the demand for electric vehicles is soaring. They accounted for almost a fifth of new car sales in 2022. In fact, the sales are so prevalent that there are concerns about sufficient charging infrastructure lagging.
How can you get an electric vehicle?
If you want to invest in an electric vehicle, then there are plenty of ways to approach this. You could look into a lease or loan, for instance. Bear in mind that both options could be impacted by your credit score. A lower credit score could mean that you end up paying back more in interest.
If the circumstances allow it and you’re keen to make the investment, you could look at building your credit history. Not only will this help with purchasing larger products, such as electric vehicles, but if you’re renting with a view to eventually purchasing a home, building a credit history and score can simultaneously help with this too.