Over 40 electric vehicles (EVs) models became available in 2023, including from the world-famous EV brand Tesla. However, Tesla is no longer the only major car company in the race for electric domination. Luxury car brands like Mercedes, BMW, and Cadillac are releasing their version of the electric vehicle, and their statistics are rivaling Tesla’s newest models.
What is an EV?
The term “electric” is tossed around in the consumer electronics world at the same frequency as the electric current it sends. But what exactly defines an electric vehicle? According to the United States Department of Transportation, as of 2023, three types of electric vehicles are available: Battery Electric Vehicles (BEVs), plug-in Hybrid Electric Vehicles (PHEVs), and fuel Cell Electric Vehicles (FCEVs). FCEVs operate on compressed hydrogen gas but are technically considered electric vehicles. However, they are not as common for commercial use. Electric vehicles are also categorized by their operation style, whether having just an electric motor or both a motor and engine.
Battery Electric Vehicles (BEVs)
BEVs are fully electric vehicles, meaning that they run exclusively on electricity. Their motors are one or two battery packs recharged externally at home or a public charging station. The standard range for a BEV is 100 miles per charge, but some of the newest motors, such as the one in the Lucid Air Grand Touring, can range up to 516 miles.
Battery Electric Cars, SUVs, and More
According to Consumer Reports, BEVs’ benefits include zero tailpipe emissions, no engine noise, and instant acceleration. Their range is higher than both types of hybrids and has a lower annual cost than standard hybrids. According to US News and World Report, the top-ranked Electric Car for 2023 and 2024 is the Hyundai Ioniq 6, followed closely by the Chevrolet Bolt and the Nissan Leaf. Regarding SUVs, the 2023 Kia EV6 took first place, with the 2023 Hyundai Ioniq 5 and 2023 Ford Mustang Mach-E taking the next two spots.
The 2023 Hyundai Ioniq 6 retails between $41,600 and $56,100 MSRP and ranked first in the US News and World Report for electric cars.
The 2023 Kia EV6 retails between $48,700 and $61,600 MSRP and ranked first in the US News and World Report for electric SUVs.
For those looking for luxury in EVs, they are in their own category. For 2023 and 2024, US News and World Report ranked the 2024 BMW i7 as the best luxury electric car, followed by the 2023 Lucid Air and the 2023 BMW i4. In the SUV Category, the 2023 Rivian R1S, 2024 BMW iX, and 2024 Audi Q8 e-tron took first, second, and third place, respectively.
The 2024 BMW i7 retails between $105,700 and $168,500 MSRP and ranked first in the US News and World Report for luxury electric cars.
The 2023 Rivian R1S retails between $78,000 and $90,000 MSRP and ranked first in the US News and World Report for luxury electric SUVs.
Electric pickup trucks are also growing in popularity for those looking for a bit more muscle, with the 2023 Rivian R1T taking first place, followed by the 2023 Ford F150 Lightning and the 2023 GMC Hummer EV Pickup.
The 2023 Rivian R1T retails between $73,000 and $85,000 MSRP and ranked first in the US News and World Report for luxury electric SUVs.
Autoweek.com released “seven models worth waiting for in 2024,” which included big names like Volvo, Honda, and Dodge. Most major car manufacturers are adding an EV to their lineup, proving that electric vehicles are the future of transportation in the United States and worldwide.
The common goal among government agencies in the United States appears to be for sales of EVs to rise, thereby reducing emissions by 2030, as established in the Paris Agreement and the Biden Administration’s National Climate Task Force. This trend of EVs falls in line with the Environmental Defense Fund’s aims for “100 percent of new cars, trucks, and buses sold in the US to emit zero pollution by 2035.”
The EV conversation is also happening on a global scale. The Electric Vehicles Initiative spans 13 countries and 23 supporting companies. The group has the EV30@30, a campaign started in 2017 with the “goal of accelerating the deployment of electric vehicles with a target of at least 30 percent new electric vehicle sales by 2030.” The International Energy Agency (IEA) works to build a sustainable future and produces the annual publication, the Global EV Outlook, which discusses EV trends of the past year. The Global EV Outlook combines “historical analysis with projections to 2030,” covering all EV production, investment, and trade aspects. In an April press release, the IEA stated that the three primary markets for electric vehicles are China, Europe, and the US, and the share of sales for EVs will rise to 60 percent by 2030 in those three countries.
Electric Vehicles offer people the opportunity to travel without worrying about fuel prices. Although the MSRP tends to be higher, based on fuel costs and projected hikes in fuel prices, more and more people are going electric, and car manufacturers are joining the movement with standard, luxury, and large EV options.
Electric vehicles are increasing in popularity and adoption globally, and with rising gas prices and continued rising temperatures, EVs are proving to be a solution to long overdue issues. In the next decade, major governmental agencies worldwide are looking to reduce emissions almost entirely, and EVs are a part of that mission.
When looking for an EV, consumers should consider their individual needs. Considering the diversity of EV models, ranging from hybrids to BEVs, this means there is a model to fit every lifestyle.