The Electric Car is back

Did you know that back in the 20th century electric cars outnumbered their petrol counterparts? By 1900, electric cars accounted for a third of all cars on the road in the United States, with New York City alone boasting a fleet of 60 electric taxis!

When Henry Ford introduced his petrol-powered Model T in 1908 it dealt a significant blow to the electric car in terms of cost and capabilities. It wasn’t until 1997, when the Toyota Prius launched, that electric vehicles started to make their mark again.

While some experts have tipped electric vehicles to be the next big thing in the Australian vehicle industry, there is still a long way to go. Last year the Sydney Morning Herald reported only 0.1% of new car sales are electric in Australia, compared to 23% in Norway, 1.4% in France and 0.7% in the US. Several major companies – including Ford, Volvo, Volkswagen and BMW – have announced plans to transition to electric-car production in the coming years, while Tesla’s highly anticipated, fully electric Model 3 has been touted as “the electric car for the masses”.

At present, electric cars are costly in terms of purchase price, but they can potentially offer lower running and maintenance costs, and are environmentally friendly.

The next time you’re chatting to RemServ about a novated lease, consider what hybrid or electric options could be available to you. The two most popular hybrid options at the moment are the Toyota Prius V and the Mitsubishi Outlander PHEV.

Imagine getting behind the wheel of a new car, enjoying the tax benefits and convenience of a novated lease and helping the environment at the same time!

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