Is an EV reliable?
A recent Consumer Reports survey in the US indicates that EVs have more problems than ICE (Internal Combustion Engine) cars, despite their simpler drivetrains*.
The study surveyed 330,000+ car owners and identified 12 potential EV problem areas. The study considered severity of problems, track testing, safety data, and owner satisfaction.
The results are surprising: EVs had 79% more problems than ICE’s and in the US; Toyota hybrids ranked among the most reliable; and Asian automakers were found to be the most reliable overall. Sedans were the most reliable category.
What about Australia?
Here at home, EV take up has been slow. In 2022, global sales of new EVs made up around 14 per cent of the new car market. But in Australia it was less than 4 per cent.
In the first half of 2023 sales increased to more than 8 per cent, but that’s still a long way behind the rest of the world.
So, why the reluctance?
The top three reasons for holding drivers back from EV’s worldwide are:
Lack of charging stations – 31 %
Limited range of EVs – 29 %
Upfront purchase cost – 28 %
In Australia, the issue is put down to “growing pains “
Consumer Reports has found the main problems are:
reliability issues with electric motors
charging (excluding home or public infrastructure), and
the battery.
Jake Fisher (senior director of auto testing at Consumer Reports) also explained that since most EVs are made by traditional automakers new to EV technology or newcomers in the car manufacturing industry, it’s not surprising that they encounter challenges and need time to resolve them. “It’s not surprising that they’re having growing pains and need some time to work out the bugs.”
Some car brands still issue EV recalls for poor battery management system (BMS) calibration or improper battery pack sealing. However, ICE cars have also needed to be sent back to the dealer due to 12-volt electronics battery or mild-hybrid battery problems.
* Technicians sometimes refer to driveline, drivetrain and powertrain interchangeably when referring to the drivetrain system of an automobile. This can cause confusion, but in essence, all of these terms describe the same system within the vehicle. The powertrain in a vehicle is composed of everything that makes the vehicle move. This includes everything from the engine to the transmission to all the parts that allow the power from the engine to get to the wheels. A vehicle’s driveline consists of all of the powertrain’s components except for the engine. The drivetrain is the part of a motorized vehicle which connects the engine and transmission to the wheel axles. The driveline includes everything in the chain from the engine to the drive wheels, but the drivetrain consists of everything after the transmission — all driveshafts, axles, joints, differentials and wheels. Find out more here: What is a Drivetrain? | Mister Transmission
Next steps
For any questions about getting your income, purchases and savings working in line with your ethical and sustainable outlook, please get in touch (click on the CONTACT US NOW button in the righthand column).
Want to stay on top of your finances?
Getting your finances in order is one thing. Staying on top of them is some-thing else again. A change in government policy, new legislation or an amendment to regulations can have a powerful impact on how your finances are structured.
So, how to keep up? It’s simple - subscribe to our monthly Insights newsletter, and stay on top of all things financial.
Want to get ethical?
We’ll help assess your intended investment against your priorities. We’ll work through what ethical mean to you, and how the companies you’re interested in manage environmental, social and governance issues (ESG) in their business.
Get our Guide to Ethical Investment with everything you need to get started
Uncertain what to do next? Got questions?
Get certainty, direction and answers. Contact us now to talk through any issues you’ve got.
Together, we’ll get your money doing what you care about.