Navigating the world of EVs (electric vehicles) can be challenging. There are different types of EVs, plenty of terminology, and so many models to choose from. It gets easier from here. Welcome to the Motor Werks EV Learning Center. Here you’ll find all the EV knowledge you need to make an informed decision and pick the perfect EV for you, your style, and your needs.
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There are three main types of EVs: All-Electric, Plug-In Hybrids, and Hybrids.
All-Electric cars, also known as BEVs, run on motors that are fully battery-powered. No gasoline to buy ever. Considered the most environmentally friendly of all EVs, as well as the cheapest to maintain.
Plug-In Hybrids, or PHEVs, have both a rechargable electric motor and a gas-powered engine. If the battery fully drains the car then switches to the traditional gas engine.
Hybrid vehicles, or HEVs, are powered by both an electric motor and a gas-powered engine. They recharge as you drive and never have to be charged.
When we were first introduced to EVs, helping the environment was touted as the best benefit. EV cars have progressed a lot since their inception, and that has produced many more benefits. One of the best evolutions is consumers don’t have to sacrifice luxury or performance to drive EVs. They are fast, fun to drive, and luxurious. Check out these other EV benefits.
“Range Anxiety” is becoming a thing of the past with the ever-growing network of public and home charging stations.
EVs feature faster and smoother acceleration, providing more punch and slick handling — making them a blast to drive.
All-electric vehicle owners never have to buy fuel. Plug-In Hybrid and Hybrid owners reduce their fuel consumption compared to fully gas vehicles.
Many EVs qualify for the Federal EV Tax Credit, which is worth up to $7,500. The credit can be transferred to the auto dealer, who will deduct that total from the purchase price.
EVs don’t produce tailpipe emissions, so there is less pollution. This also helps reduce air pollution-related illnesses and conditions aggravated by pollution.
EVs have less components, parts, and fluids, which means less maintenance and tremendous savings compared to operating a non-electric car.
Both time and money are reclaimed when you own a fully electric vehicle since there is no oil to change.
When running solely on the electric motor, EVs are incredibly calm and quiet due to the lack of internal combustion engine noise.
There are three different types or ‘levels’ of EV charging. Every new EV comes with a Level 1 charger. These are portable units, mostly used at home with standard outlets, or kept in the car to use as a backup. Level 2 chargers are available for home use but need 240 V outlets and are either hung or mounted. Level 3 chargers are almost exclusively used in public charging networks. They are the fastest way to achieve a full charge.
USAGEPeople who buy EVs might be eligible to receive a federal EV tax credit. Some new EV purchases are eligible for a credit up to $7,500, while people who purchase used EVs could receive up to $4,000. One of the best aspects of the EV tax credit is that it can be transferred to the dealer, who can then deduct the tax credit amount from the price of the vehicle, reducing the final cost.
There are requirements that both the electric vehicle and the buyer must meet to receive the tax credit. The buyer’s requirement pertains to limits of their modified adjusted gross income. Buyer’s need to meet the MAGI requirement for the year the car is delivered, or the year before. As long as the buyer doesn’t exceed the limits for one of those two years, they meet the MAGI requirement for eligibility. Here are the numbers:
New EVs: Modified Adjusted Gross Income Limits
Single and married filing separately: $150,000
Head of household: $225,000
Married filing jointly: $300,000
The vehicle needs to meet certain battery requirements and must have final assembly in North America to remain eligible for the credit. There is also a price cap on EVs. Pickup Trucks, SUVs, and vans must have an MSRP of $80,000 or less. Passenger cars like sedans and coupes are capped at $55,000. For used vehicles the price cap goes down to $25,000.
Dealerships selling or leasing EVs that exceed the federal price cap may still offer factory incentives or credits in lieu of the tax credit. For example, Mercedes-Benz of Barrington offers a $7,500 incentive since Mercedes-Benz EVs aren’t eligible due to price caps and final assembly location. Our Motor Werks team is well-versed in the ins and outs of the EV tax credit, and they can answer any questions you have about eligibility. Contact us with any questions about EVs or the federal tax credit. The government site Fueleconomy.gov is also an excellent resource. You can also speak with a tax advisor to determine your eligibility.
Motor Werks has an huge selection of both new and used EVs available for sale right now, and you can scroll down to look through our current EV inventory. New EVs for sale at Motor Werks include the Porsche Taycan, Honda Prologue, and the Cadillac LYRIQ, plus the full line of BMW EVs and Mercedes-Benz EVs.
Motor Werks has been Driven By You since 1971. Visit us at Motor Werks for the best in EVs, a friendly, knowledgable team, and professional service.
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