Will hybrid and electric vehicles be the answer to high oil prices? – Part 1

The oil prices are skyrocketing and it is expected that in the not-so-far future the price might touch $5 per barrel. With beefed up prices of the black gold, among countless commodities that will taste the inflation, car commute is going to receive harshest blow.

Although the automotive industry has produced a number of solutions to the traditional gasoline-powered vehicles from organic fuels to hybrids to electric vehicles (EV), none have proved to be viable and competitive. When compared to gas-engine cars, the EVs and hybrids are more hassle than solution, let alone the charging and mileage in terms of range.

The best solution so far has been hydrogen fuel cell-powered vehicles but due to the lack of filling stations of such fuel the solution is not very widespread in use.

Therefore, the only two ways to evade the higher prices of gasoline and diesel are hybrids and electric vehicles. Though the two aforementioned technologies combined to be the second largest in use after gasoline and diesel, the initial costs are so hefty that the economy of using them goes on back-foot when compared to the premium paid on their purchase.

Initially, costs of these vehicles were subsidized by governments by cutting back taxes but as in the US, the revised tax tariff does favour it either.

The reason why EVs and hybrids cost more than the tradition gas-powered automobiles is cost of equipment that is used in them. In EVs, though there is only one moving object in the electric motor, the host of batteries nestled in the back cost a premium on net retail price. The same is the case with hybrids, which have sources that churn out power to the wheels.

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Posted by Usman Khalid on Mar 6 2012. Filed under Automobiles. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.