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Future low carbon vehicles will save drivers money

Posted on 25 March 2013

General Electric, who contributed to the
report, has purchased 2,000 Ford 2,000 C-Max Energi plug-in hybrids for
its corporate fleet.

American carmakers are competing to go electric
State aid rule changes will mean greater environmental protection
New service to help commercial property occupiers cut energy bills
Toyota to supply BMW with hydrogen fuel cells
GE offloads marine container leasing unit for $1.05bn

Low carbon vehicles in the future offer the prospect of cash savings for drivers of around €400 per year.

A report from Cambridge Econometrics and Ricardo-AEA,
based on research by the European Climate Foundation, says that
although these cars are likely to be between €1,000 and €1,100 more
expensive, the fuel savings would mean that there is an effective
break-even point of around three years, after which they become
significantly cheaper to run.

The report says: "A shift to low carbon cars and vans increases
spending on vehicle technology, a sector in which Europe excels,
therefore generating positive direct employment impacts".

At the EU level, the cost of running and maintaining a car fleet
would also be €33-35bn lower each year, by 2030 than if the measure was
not taken.

In total, there are avoided fuel costs of around €79bn in total, compared to additional capital costs of €46bn.

The report compares internal combustion engines with more efficient
internal combustion engines, plug-in hybrid electric vehicles, and
straightforward hybrid cars. Another report is in the pipeline comparing
them with fuel cell and battery electric vehicles.

It includes costs sourced from the auto industry itself, and is
produced with support from Nissan, General Electric, the European
Association of Automotive Suppliers (CLEPA), and the European Storage
Battery Manufacturers Association (Eurobat).

It concludes that between 356,000 and 443,000 additional net jobs
will be created by 2030, resulting from the switch to low carbon
vehicles.

 

Source: Link2Portal