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The Car of the Future

By: Steve Johnson

6/5/2008 - 40 Comments

The age of the electric car may have finally arrived with oil at $135 per barrel.

Electric cars has been around for a long time, but with cheap oil prices have just never become popular. But now with sky high oil prices, the next round of electric cars and hybrids may have an advantage.

Here is a car that caught my attention. It’s called the Aptera Typ-1 and it has been designed to achieve 300 MPG.
www.aptera.com

Here are a few pros and cons,

Pros,

  • Save lots of money on gas, approximately $2600 per year. (15,000 miles per year / 20 mpg = 750 gallons x $4 per gallon = $3000) – (15,000 miles per year / 300 mpg = 50 gallons x $4 per gallon = $200)
  • Crash tested and loaded with safely features, which is surprising when you look at the car.

Cons,

  • Cost $30,000, approximately $10,000 more than a comparable gas car.  Therefore, the owner would have to drive the car for at least 4 years ($2600 x 4 = $10,400) to make it worth the additional cost.  With interest and the cost of electricity to charge the car, the breakeven point is more like 5 years.  Like other hybrid cars, the breakeven is still 5-8 years.  But, with the recession and credit crunch, it’s harder to get financing, causing many to look to the user car market.
  • Production is beginning in late 2008, but they are only available in California.
  • You cannot tow anything.
  • The Aptera is probably not very good on snow and ice. (like up here in Minnesota). Maybe the automotive market will become more climate targeted. This vehicle could be very successful in the warm parts of the world. 

Conclusion

This car is an investment with a lot of questions, like where can you get it repaired? And what if the price of electricity goes up as projected within the next few years, and plugging it in costs just as much as putting gas in your old car?

Now if they could only make it fly.

Ethanol may not have been the solution to reduce the dependency our nation has on foreign oil, but the investment in Ethanol is helping to support adventures like this by highlighting the need for alternative solutions to the oil crisis. 

This car is exactly what we need more of … entrepreneurs and small businesses creating new products that can be produced in America and sold to the rest of the world.  The more products we export the more we will reduce the trade deficit and improve the value of the dollar.

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