Embrace the electric revolution with Absa Vehicle and Asset Finance.

I know that for many South Africans combustion engines are the norm, but with a little investment, many will soon find out how appealing an electric car is. Firstly, electric cars are greener and better for the environment. Compared to their petrol-guzzling cousins, they require significantly less maintenance and running costs

Despite South Africa’s energy challenges aka load shedding, and even though there isn’t a huge network of charging stations for now, I believe electric cars are here to stay.

Let’s help you understand the different types of electric vehicles

Let’s start with the hybrid. It’s exactly what it sounds like: A hybrid runs on petrol as well as electric power, which means that it should achieve notably better fuel consumption than a similarly sized combustion vehicle without electric assistance.

You get regular as well as plug-in hybrids – plug-ins have larger hybrid batteries, can be recharged by being plugged into power outlets and can run for longer on battery power alone. Prices for hybrids start at around the R400k mark.

Another option is a battery electric vehicle or BEV which is fully electric with no combustion engine, just a battery-driven motor under its bonnet. The amazing part is that it produces zero emissions, which surely earns you a Noddy badge in some circles.  However, these are much pricier than hybrids, the starting price being around R700k.   But consider that while it costs about R55 to charge a BEV to travel 100km, a combustion vehicle would consume about R228 worth of fuel to travel 100km. On top of that, BEVs require way less maintenance than normal cars.

South Africa’s infrastructure is growing now and sporting more than 400 private and public charging stations across the nation, with 100 more expected by the end of the year. As the charging network expands, the relatively low travel range of most BEVs will eventually not be a concern for most drivers. And, at around R200 to recharge a battery with a range of about 400km, it’s looking pretty attractive, considering that owners of large SUVs spend a mini mortgage every time they fill up.

Electric vehicles are here to stay, so make the transition to electric easier with Absa Vehicle Finance.

Try our Vehicle Finance Calculator to see what you can afford  or explore Vehicle Finance Solutions for more information on Absa Vehicle Finance’s offerings.