Electric vehicles (EVs) are revolutionising the way we think about transportation. These vehicles are powered either partially or fully by electric power, and as such, offer several advantages over traditional petrol and diesel-powered cars.
Firstly, EVs have significantly lower running costs as they have fewer moving parts that need maintenance. They are also very environmentally friendly as they use little or no fossil fuel, making them a sustainable option for the future. While some EVs use lead-acid or nickel-metal hydride batteries, the standard for modern battery electric vehicles is now considered to be lithium-ion batteries. These batteries have a greater longevity and are excellent at retaining energy, with a self-discharge rate of just 5% a month.
In terms of efficiency, EVs convert over 77% of the electrical energy from the grid to power at the wheels, compared to just 12-30% for conventional gasoline vehicles. EVs emit no tailpipe pollutants, although the power plant producing the electricity may emit them. Electricity from nuclear, hydro, or solar-powered plants, which make up an increasing share of power production in the UAE, causes no air pollutants. Additionally, electric motors provide quiet, smooth operation and stronger acceleration than internal combustion engines.
Battery life for EVs has also improved significantly, with studies showing that they may last 12 to 15 years in moderate climates and 8 to 12 years in severe climates like the UAE. Charging an electric car from home can cost under $8 and can even be free in public car parks, malls, and gas stations in Dubai. However, these batteries are expensive, and replacing them may be costly if they fail. There have also been safety concerns with these batteries, such as thermal runaway, which has caused fires or explosions in some models. Efforts have been made to improve the safety of these batteries.
At Nebula Investments, we have considerable experience with electric vehicles and aim to support their continued growth in the UAE market, in line with the government’s plans. EVs are changing the way we think about transportation, and we’re excited to be part of this journey towards a more sustainable future.
