Can You Afford to Own a Clean and Safe Car?
Affording a clean and safe car is within your reach. So too is getting in on the investment market for automotive innovation.What will it cost you to own an Electric Car?Two of the most popular EV Cars are:The Tesla, starting at $100,000, and the Kia Soul, starting at $17,000.Home Charging StationThese can be installed in your garage for $800 - $2000.Hydro Bill (on average)To charge your EV to run 100km will cost $2 extra on your Hydro Bill. How much can I save owning an Electric Car?FuelYou'll save approximately $150 per month which totals $1,800 in annual savings.Cost of EV CarThe provinces of Ontario, Quebec and British Columbia offer grants. Plug ‘n Drive hosts a comprehensive list of grants broken down by each vehicle type. Ontario grants, for example, are:
- Up to $14,000 off the purchase of an electric car,
- Up to $1,000 off the purchase and installation of a home charging station and a green license plate that allows drivers to use the HOV lane
The amount each car receives is based on four factors:
- Battery size
- Number of passengers
- Vehicle price
- Duration of lease
Indirect Ways to Get Involved in Automotive InnovationYou can participate in the growing market for cars that are autonomous, connected, electric and shared (ACES) through investing in automotive innovation ETFs like CARS. This ETF is the first of it's kind in North America and it invests in the clean, safe and connected car supply chain. Other ways to get involved in the automotive innovation market is to invest in the car manufacturers themselves.