Why should a Lithuanian choose an electric car?

  • Why should a Lithuanian choose an electric car?

    Publication date 27.08.2024

    Why Should Lithuanians Choose an Electric Vehicle?

    We live in an age of technology, where digitalization, renewable energy, virtual reality, and artificial intelligence are reshaping infrastructure, education, medicine, and more. While Lithuania may not enjoy year-round sunshine, installing solar panels for private homes or businesses has become a necessity rather than a luxury. According to a press release from "Elektrum Lietuva," private solar installations generated about 10% more electricity in the first quarter of this year compared to the same period last year.

     

    Having access to your own electricity and surplus energy is one reason households are adopting the latest technologies, such as electric vehicles (EVs) and home charging stations. According to "Regitra," the number of EVs in Lithuania surpassed 10,000 in 2023. E-commerce data also shows that Lithuanians are increasingly considering switching to electric cars. What other factors are driving this trend?

     

    The purchasing power of Lithuanian consumers is gradually increasing. Those earning average incomes or higher are more likely to purchase an EV outright or lease one, opting for an environmentally friendly vehicle. As Northern and Central European countries renew their fleets, the secondary market expands, creating opportunities for Lithuanians to buy used EVs at lower prices.

    One of the most significant factors encouraging Lithuanians to switch to EVs is government support. Since June 2022, Lithuania's Ministry of Transport has been offering compensation for retiring polluting diesel or gasoline vehicles and purchasing new or used EVs. Individuals buying a new EV (up to six months old) can receive €5,000, while those buying a used EV (up to four years old) can get €2,500. Businesses are also eligible for subsidies, and the modernization fund will remain active until 2026, with a total budget of €50 million dedicated to promoting EV purchases.

     

    Additionally, the government supports the installation of private EV charging points at homes, apartment buildings, and businesses. EV drivers in cities like Vilnius, Kaunas, Klaipėda, Šiauliai, Panevėžys, Neringa, and Trakai can also enjoy free parking in paid zones. More information about government incentives can be found on www.ena.lt.

    Rising fuel prices are another reason consumers are turning away from gasoline and diesel vehicles. Although Lithuania’s Energy Agency reports that fuel prices have stabilized, decreasing by about 0.5% in recent months, instability in the oil market due to ongoing conflicts and attacks remains a concern.

    While Lithuania's charging station infrastructure is still developing, consumers are increasingly confident in its expansion. An analysis of station distribution shows that major cities like Vilnius, Kaunas, Klaipėda, Birštonas, Druskininkai, and Anykščiai already have or will soon have sufficient public charging points. Stations are not only located along highways, at gas stations, and in clinic and store parking lots but also at larger companies' private parking areas, offering an added benefit to employees.

    Lower vehicle operating costs are also a compelling reason to switch to EVs. According to research from New York State, about 31% of local respondents reported that their EV maintenance costs were significantly lower compared to their previous gasoline or diesel vehicles.

    With an EV, certain maintenance expenses disappear, such as oil changes, and brake systems wear out more slowly. EV drivers reportedly spend about 50% less on repairs and maintenance.

    Another important aspect is the positive environmental impact of driving an EV. Reducing pollution is a critical step in combating climate change. In heavily polluted urban areas worldwide, vehicle emissions are a major contributor to global warming.

    New York State’s Department of Energy and Environmental Development states that EVs reduce carbon footprints by 50-70% compared to internal combustion engine vehicles. Lithuania has committed to the EU to reduce fuel consumption by 42% by 2030. To achieve this, the country imposes pollution taxes on diesel vehicles, higher registration fees, and other deterrents.

    With an increasing variety of EV brands and models, there are more reasons than ever to choose an EV. For those who don’t yet own one, the big question remains – have you decided which EV to buy?
      

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