Hybrids a “passing phase”: the future is full-electric
Electric-vehicle technology is advancing so fast that hybrids will become obsolete in a few years. Hybrid technology is a “passing phase”, and full-electric vehicles are the future, predicts Rupert Pontin, Head of Valuations at Glass’s.
“A new hybrid vehicle bought today could be obsolete by the end of its normal life”, Pontin says. Hybrids are designed to solve the two main problems of electric mobility: low range and high cost. Those issues look set to be resolved very soon.
Mr. Pontin points to the revised Renault Zoe announced at Paris Motor Show, with a 400-km range and a base price of around €17,500; the BMWi3 with a new battery that lasts around 300 km; and to VW, which claims its IQ, coming to market in 2020, will go up to 600 km between charges and be priced competitively.
“Vehicles such as this effectively remove the rationale for hybrids”, Pontin says – warning that “within a few years, hybrids could be seen as little more than a curiosity and this will undoubtedly affect their residual values”.
Hybrids (pictured: Toyota Prius) are particularly popular in the corporate market, as their lower CO2 figures minimise tax bills in countries with an emissions-based fiscal system – the UK among them. However, they are not in high demand on the used-car market, and that problem is likely to grow as more advanced EVs become available.
Image: Robert Scoble, CC BY 2.0