The Expert Podcast

You might not think you're interested in an electric vehicle but in reality you are interested in electric vehicle whether you know it or not electric vehicles are going to be a ubiquitous and large percentage of the marketplace in the next few years and if you don't have an interest in one now and you're planning for the future of your transportation around internal combustion engine vehicles you're going to be behind the curve and whether you agree with the fact that we should be driving electric vehicles or not doesn't really matter everybody has their own opinions could be political could be social could be lifestyle about electric vehicles the difference between what you want to do and what's going to happen is probably going to be pretty Stark and we're going to prove that to you don't take our award for it and also don't consider any one person's opinion about whether we should be driving electric vehicles or not because anybody can have a different opinion of whether we should be doing it.
However there are is a huge volume of data which points in the direction that electric vehicles are going to be here right now electric vehicles represent one percent of all the vehicles on the road one percent very small amount even if electric vehicles are only 10 percent of the vehicles on the road in the next few years that's a 10 times increase in the number of vehicles that are on the road the percentage of vehicles on the road and it's probably going to be more than that here's why let's look at some facts not opinions but facts.
NADA the National Automotive dealer Association Automotive dealer their dealers go all in on electrics so NADA which is the organization the trade group for automotive dealerships is all in on electric what does that mean all in well what you're doing is they're putting electric vehicle charging stations in front of the dealerships front and center they're going to guide consumers on how to buy at EVs and they're making all of the new developments in dealerships have to do with electric vehicles they're directing consumers to EV websites through promotions they're airing all in for Ev commercials so their marketing and their public relations is all about electric vehicles.
What about development of electric vehicles well one of the things that's holding back the the large-scale production of electrical Vehicles is batteries look the bodies and the sheet metal and the interiors and the glass that's all technology and materials that are currently being produced yeah you might have to change the shape or retool for different production but Vehicles already have those what's different about electric vehicles is the battery there are 13 battery jigafactories coming to the US by 2025. that might seem like a long ways away that's only about three years away a new era in U.S battery production look at the size of this plant this is just one example there's going to be 13 of these factories building batteries for electric vehicles within the next few years that's going to have a huge impact on the availability and volume ushering in a new area of battery production.
Aside from Tesla and Panasonic there's a few other companies that are developing these batteries Ford General Motors in Ohio Tennessee Kentucky Atlanta North Carolina Tennessee again for Volkswagen opening some of these are opening 22 23 25 and it's going to be a massive wave of battery cell production in addition to having the availability keep this in mind these companies aren't going to invest billions of dollars in plants like this unless they knew that the future was going to be electric vehicles so right on the coattails of this and we'll talk about what you can do as a consumer to benefit and prepare yourself for electric vehicles even if right now you don't have an interest in electric vehicles if you don't have an interest in it that's fine but you should prepare for the business environment and vehicle environment that is going to change to electric vehicles regardless of what you prefer.
What's happening in the market well this is again from Auto remarketing industry internal trade publication prices on used hybrids and EVS jump more than 40 percent when have you heard used cars going up in value up in value average gas prices is leading to the cost of used vehicles becoming inflated year-over-year increase overall prices were still considerably more expensive analysis from IC cars significant increase in demand for use hybrid and electric vehicles significant increase prices increase 46.9 percent unheard of.
Last thing we'll look at then we'll talk about what your strategy could be is buying a used electric vehicle a good idea it talks about tax benefits tax benefits typically are steered towards new electric vehicles however there are some perks on used electric vehicles some states have specific rebates the federal government will probably come out with one more importantly your utility in your jurisdiction will probably have some perks for upgrading your charging system so how can you take advantage of the fact that electric vehicles are going to be the thing if you believe that to be the case and again this is just some data and some evidence you can have your own form your own opinion about whether or not it's going to be the case but presuming let's assume for the sake of argument that electric vehicles EVS are going to be the wave of the future and most vehicles on the road are going to be the wave of the future how can you prepare for that how can you benefit from it.
Well first look at if that's the case and you do want an electric vehicle what should you do about it right now should you buy an electric vehicle today as opposed to a gas vehicle what if you're in the market for a vehicle and you're you're looking to replace a car that you already have I'm not sure if you should go electric hybrid or gas well if the wave of the future is electric and you buy an electric right now even if an EV three years from now will be considerably better than what you buy today still doesn't matter buy an electric vehicle today because when you go to sell or trade in that vehicle in three years if the market is already increasing for used vehicles 46 percent then in three years an electric vehicle is still going to be better off than a gas vehicle if everything's shifting away from gas three years from now if you purchased a 2022 gasoline vehicle it's probably going to be less desirable in the market than an electric vehicle would be even if there's huge developments and improvements in electric vehicles an electric vehicle from 2022 is still going to be better than a gas in terms of the future Market again assuming that electric vehicles take off which that's the point of this conversation is we're assuming that.
What if you're not currently in the market for a vehicle and you have a gas vehicle should you switch to Electric right now well that's a little more of a gray area if you're not if you wouldn't be buying a vehicle anyway then maybe stick with what you have a little longer but maybe accelerate your thought process because your gas vehicle might be worth more now than it's ever going to be think about how much gasoline vehicles have gone up in value used cars in the last two or three years huge increases some of them are worth more than what they sold for new you might be able to get more for the car now than you ever could in addition those rebates and tax incentives and Factory incentives for gas vehicles right now might be higher than they will be in the future if right now the demand for electric vehicles is still at the one percent range there'll be more incentives to try to get people to adopt that technology today three years from now two years from now maybe the incentives won't be as high because more people are naturally buying these vehicles anyway without incentives so maybe if you weren't thinking about buying a replacement vehicle for two or three years or maybe a year and a half maybe you move that up a little bit if you're going to buy one anyways.
What if you are of the opinion that you don't want an electric vehicle you hate electric vehicles you just want a gasoline-powered old-school vehicle that's fine what do you do at that point well maybe you look at and maybe it's for a particular reason maybe electric vehicles won't serve the purpose you need to serve maybe you need to drive long ranges without stopping maybe you need to pull higher capacity well then maybe what you should do is purchase a vehicle that you're going to be able to keep for a long time that's a gas vehicle that meets your needs but pick one that you'll be able to repair.
One of the things that has already happened it's been happening behind the scenes for the last three or four years there has been no new development of gasoline technology vehicles at most of the manufacturers they haven't come out with any new technology for vehicles maybe some new vehicles but built on Old technology no new engines no new transmissions no new um Drive trains they because they know they're switching over to Electric so I spend hundreds of Millions retooling so if that being the case find a technology find a vehicle that has very common mechanical Parts a common engine an engine that's used in all kinds of different vehicles gasoline engine so that the repairs parts technology knowledge of fixing these vehicles is going to be available to you over the next five to ten years example you want to buy a truck because you need something to pull a horse trailer buy a truck with an engine then everybody knows how to work on that there's going to be parts for for a long time maybe a truck that has an engine that's used in commercial vehicles that they can't switch over to Electric find something that parts will be available.
Because you know I have to tell you five ten years from now there may be difficulty getting parts for some of these gasoline vehicles in fact some parts for gasoline vehicles that were low MPG High emissions vehicles are no longer available some of them are outlawed in California there are some types of heavy duty trucks you can't even register in California anymore which means there's no Mechanics for them there's no parts for them so if you're going to buy a gas vehicle that you want to use for a long time and ride out you know your use Beyond when electric vehicles are on the road buy something that's very common a Chevy V8 a forward inline six if it's an older one something that you know parts and materials were more likely be available for if it's something that's going to be discontinued make sure that the underlying technology is available to you maybe consider it like a classic car maybe buy something that you look at and own the same way that somebody who has a 1969 GTO does like an old car that you just use for particular purposes.
Either way look at these facts and data building factories prices going up dealerships going all in for EVS look at this this these facts and data and plan for a future with electric vehicles maybe it's if you're going to do electrical work on your house anyways put a new breaker box put in a new circuit maybe make part of that to add a charging station for your garage even if you don't have an electric vehicle if you already have an electrician coming to your house to do work why not add another branch circuit if you're doing a remodel of your house why not leave space for a charger because you might need it in the future anyways if you're looking at buying a house or building a house have that be a consideration if you're a business owner look at opportunities for adding charging to your business if you know that this is going to be something ubiquitous in future years.
If you have a lifestyle that involves constantly stopping to fill up your gas tank figure out how to maybe alter that because look the range is going to take care of itself here's the dirty secret about electric vehicles your gas vehicle that has a 18 gallon tank that gets 30 miles per gallon probably can go four or five hundred miles without filling up the tank within the next couple years electric vehicles will be get getting close to that 350 400 the range is not going to be the problem the problem is going to be finding a charging station and more importantly how much time it takes to charge if you have a gas vehicle you drove 400 miles you need to fill up your tank you stop at a gas station it takes you four minutes to fill up your tank and you're on your way that's a big difference between pulling into an electric vehicle charging station maybe you drove the same miles maybe your car had a range of 400 miles you drive 400 miles now you need to charge up your car you pull into a stop to charge your vehicle it's not four minutes it's 15 minutes it's maybe 20 minutes maybe it's a half an hour big difference between stopping for four minutes at a convenience store getting a bag of Doritos and a coat charge filling up your car and run it out big difference between that and having to stop for 20 minutes or 30 minutes.
There's a lot of factors around that we'll talk more about that in other videos one of the factors is going to be the time what are you going to is it gonna you know kill your day other factors personal security and you pull into a gas station who wants to sit at a gas station for 30 minutes where you can't move you want to make sure your personal security is taken care of you're looking around you're making sure you're in a safe place Maybe looking at your route that you take for business or work or pleasure to keep in mind where the electrical Chargers are going to be a future life based on having electric vehicles versus gas vehicles is a good thing to start thinking about now planning for your business planning for your career planning for your life because if you have started the planet for a couple years you'll be well ahead of the game of people who just suddenly realize they don't have their gas vehicle anymore.