Friday, October 29, 2010

Why Your Electric Vehicle 'Fuel' Will Be Free

How can EVs become more attractive to consumers price-wise? One of the ways can be from the realistic prospect of free 'fuel.' Imagine this scenario happening in the not so distant future: You get in your EV for a day of errands and your display screen notifies you that your battery is low. A quick scan on the navigation system says there is an available charge spot at a nearby grocery store where, best of all, charging is free to customers. With a few touches to the navigation screen, your vehicle automatically routes you to the location and you're able to refuel while grocery shopping is checked off your list.

Pie in the sky you ask? Not at all and here's why: depending on battery size, the cost of the total electricity needed to charge your vehicle should be around $1.00 - $1.50. Retailers will likely see this as good business: spending a $1.00 per customer in exchange for the $100 you'll spend at the grocery store is a high return; especially when considering the amount they normally spend on advertisements and reward programs to get you in the door. Essentially, electricity as fuel will be much more than a commodity—it will be a retailer's bargaining chip.

Read more at Free Fuel


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