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The cost of a new electric vehicle today is strongly influenced by its residual value tomorrow
When it comes to its cars, the City of Vancouver has long been a proponent of driving electric. It introduced EVs into its fleet in the 1970s — “little cart things,” says Amy Sidwell, the city’s manager of equipment services — bought a few more in the 1990s and it now has 120 EVs in its 1,900-vehicle fleet. It wants to cut fleet emissions by 50% by 2030 and 100% before 2050, which means many more EVs are on the way.
“We’ve had great success so far,” Sidwell says. “People really like using them and they cost the same or less than [internal combustion engine cars] to operate.”
The city is now buying EVs in earnest — it recently got approval to buy 44 medium- and heavy-duty electric trucks — but there is one unknown around the cost of these cars: their resale price. The city hopes to recoup some of its investment when it eventually sells these rides, but it’s hard to know how much they’ll get for an EV after about 10 years of use.
Read more on electricautonomy.ca