The Pak Banker

The costs to consider when buying a hybrid or electric car

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As many of us look for ways to reduce our environmen­tal footprint, it's no surprise that the demand for electric vehicles is on the rise.

With the car industry making a big shift towards electric and automated cars to meet that demand, major manufactur­ers are investing in research and developmen­t to grow their portfolio of hybrid and EV models.

Consumers thinking of making the switch could consider a hybrid first, as it acts as a stepping stone towards going fully electric. This is because hybrids have a certain amount of fuel flexibilit­y as a driver can switch between an electric and traditiona­l petrol- powered engine depending on the fuel options at the time. An EV on the other hand needs to be charged at a charging station, just as you would charge your smartphone.

Hybrid cars are smaller and have more efficient engines than convention­al petrol- powered cars. The extra power the electric motor provides allows very small engines to produce the same power output as nonhybrid engines that are double the size.

The petrol- powered Volvo XC90 3.2L V6, for example, produces 235 brake horsepower and can sustain an average of 7.7 kilometres per litre. The new hybrid Volvo T8 XC90, on the other hand has a 2.0L V4 supercharg­ed engine and an electric motor giving a combined 384bhp and an average of 26km per litre. This means more power and more fuel efficiency with less than two thirds the engine size of a petrol-powered car.

While the initial cost of purchase is higher for fully electric cars because of limited options on the market, hybrid models are less expensive and easier to maintain in the long run, given the combined engine capabiliti­es. Here are some pointers to consider when shopping for a greener model:

Fuel costs are cheaper If you purchase a preowned Volvo XC90 3.2L V6 and drove 15,000km a year, you would spend Dh6,300 a year on petrol. Choose the new hybrid Volvo T8 XC90 instead and your fuel costs drop to Dh1,830 for the year that's a 70 per cent saving on fuel costs.

Check for a warranty on a second- hand option As with any car, there is also a price difference between a new and pre- owned hybrid/electric car. However, keep in mind that warranty and service plans add an inimitable value as well. Even when looking for a second-hand car, it is always worth checking if there is still a year or so on the warranty or service plan, as it could save you some money. Assess where you live With many residents living in apartment buildings, it is generally more difficult to access charging stations. However, the UAE's infrastruc­ture is continuous­ly evolving to make it easier and more accessible to own EVs. Dewa has installed more than 240 EV charging stations in Dubai over the past few years, with a view to having 300 in place by the end of this year. We expect this number to continue growing, and property developers are increasing­ly considerin­g installing EV charging stations in new projects. Think about distances Travel distances are also an important factor when considerin­g an electric or hybrid car. If buyers are continuous­ly commuting between the Emirates, they should calculate the average distances travelled in a single day. Study the range of the car being purchased and how many trips can be made in a single charge.

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