Monday, November 14, 2011

Electric Cars on the Decline

A recent experiment by Chevrolet lead to an investigation on Lithium ion batteries in cars. A Chevy Volt burst into fire on a test one day. The lithium batteries may be a hazard for drivers and there's no telling whether or not the battery will just bust and cause a fire in the car. Another problem with the car is that retailers for the car are afraid that after the car is purchased its value will decrease way more than a car that uses gasoline will. It's an estimated 70% decrease in value in four years for cars with replaceable batteries rather than the 40% in four years for cars that use gasoline. That is a really problem for dealerships that want to buy the car back and for the people that decide to sell their battery powered car. The battery powered cars deal with long recharging times and limited ranges, which would frustrate people when filling up a car with gasoline takes a few minutes. The only upside to the battery and gas is the battery will cost little to no money to recharge rather than spending all the money on gas. Some think that electric cars will help the US become less dependent on imported oil which demand for the purchase of oil will increase dramatically. Eventually putting the oil company out of business if we as a country convert to all battery powered machines.

1 comment:

Smith said...

Couldn't a gas powered vehicle burst into flames? Also, why is there such a huge deprecation projection on these cars?