Tom Standage (The Economist, Electric Cars)

Tom Standage (The Economist, Electric Cars) by The Financial Exchange


Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

We're joined by Tom Stanton from the economist for conversation regarding engines and electric cars Tom welcome to the show. Tom how long have we been using internal combustion engines. Well they let us inspect dated 181006. And ten is not a bar to making a key that that someone called Colt Brennan. Built what we would consider a Morton called today it had about it and did say that quite a long time I don't but he spends his name is still around the department that he spent. OK so based on the research you've done win will electric cars reach cost parity. With internal combustion cars. Well there is the woke up at that what happened is that it next DA in Europe what's happening here is that he can't make it on some hate it southern electric car to the local. And means that if you look at how much it costs. Other than a cause vehicles to be it mobile the total call that I get next CA in Europe and the it will be possible to have again the EPO forget the the same for electric cars for apple com generally that it will take a bit longer. The rest of the world people are talking about sort of 20/20 three maybe had a tap that. He is on now that the cost over the course but he did have running an electric Kabul be equal to or lower but not for apple com. I was reading about the cost of batteries and he may come down pushed you know just. Dramatically these. Yeah that's what striking is that the athlete is just getting much cheaper much backed up because the same battery technology that annual small fine. I'm not what really helped bring it down that the price that. About we have been given amount of we now have fallen by about 85%. In 2010. Not mean you get a local factory that sort of 101000 dollars that you buy at 2530000. Dot com. You know 101000 adult about will be the factory and we will now take you to 300 miles instead old fifty model and not make the whole property and much more attractive. But I've also read those that you know the cost of lithium and cobalt is going through the roof facility there's a disconnect there Tom help me understand what our battery cost can be coming down to the material to make the batter is totally up. Well firstly we can't conceive the material electrical Levy the united Graham we've done it don't. That you could recycle back traded away that you can't beat cycle petrol. But Huckabee walked and definitely get the I BM. The price stability of the storm from 2000 dollars a ton says 141000 dollars a tonne in the pop up Soviet. What I mean is thought to signal the miners. This is something people walk that you could go and find more bit in the ground about exactly what happening people are finding need to pull it as a vote in South America but the Tampa beat. Court at all in Australia before and we seen this in the pulpit other commodities as a the world wouldn't quite get enough people. Make more effort to look at ease supply. It would leave about 85%. Of Americans commuting to work in a car. Yeah it they 5% cult putting at about 75% driving on the Iraq policy my card debt the US. That he could Europe where we have been able to transport that as bad as it. Most of our listeners have never billion and electric car my co workers have never been in an electric golf cart. On our our electric car is easier to build and service and explain if you can try to explain that. To somebody who's sitting to my right in not a Victorian. Don't watch the debate between different is that added about that it is a very very complex piece of machinery don't walk comic at the styling is kind of that ability to make these amazing machines work reliably. Talk about what that by the depth up front mission that just basically have actually but it does. That luck let that go wrong you need you call. You need fewer people to build them and the amount of maintenance capital and it must Lola has analyst with bank that the alt a market that spending on. That call the maintenance is gonna be about 60% small for electric cause this is back he's a protocol talks. Companies back in the north diva you know that you just gonna make that money on left of the things that I would try to put it on topic I mean these new electric car that the people. They basically need no maintenance the first 150000 miles what you thought it. And it is just because the problem much much simpler mechanically let the Iraq. Like you pointed that out in your total cost of ownership right because you're not paying for oil changes. Yeah one of the things that that the key is Petit he had all the field but you'll be with Hewlett like recharging it. Not help as well. What about total car emissions we how much. Our emissions reduced because you're still using electricity which is the most part it's produced either by nuclear power natural gas or. Exactly what's even if it has about the burning fuel in outpatient is much more patient but that it is an engine. Just everything and be. More recently needed the most large scale as big power stations could duel with a clever tricks that we we claiming heat from the middle. They think that you've you've got kind of upped twice occupation be right back via the thing about electric out of the what you get the breaks they can do regenerative braking can be capped at about Angie. And we talked about for yet but it. That what I mean does that even if you're using fossil fuel that we don't yell generate electricity the electric costs they'll come out ahead on a mission. Today in America let the culprit he's. If people percent lower admission. Even though you've got lots of gas. And told that being burned out station and it has been great get Corina all the speedy electorate can't get green tape but they're a big step forward even if you don't read the great. And why that but big east they're bombing also. We should we diplomatic note to the attitude that goes undetected coming out article that articulate. Which calls all of the horrible. Health problems but if it would be the quality the added that he's not another picket policy of electric car but you that update tailpipe emissions that to make it one prevail. Rightly view live next to a highly we know you're talking right yeah these views and more the incidents. Of long illnesses next highways are boarded up. Didn't that at least articulate to being linked to more and more it has more more illnesses but it really is a big problem when you look at the Aaron. In India or China at some of the big that he it. Los Angeles. Or hopefully yeah. Would it what about the old batteries because that's a day the IQ you think about. Well when my kids wrecked my a a Toyota had a had a big battery what do you do with the old batteries when they weren't anywhere out there in the car where. Exactly exactly that the executed in the first is that they couple called second life. Which is where they get to retire and they go at it in the heart rate. That it wanted to benefit the beat back to getting back there is not a comical that he could put the streets into your home and you know it's a cup so the counter in Japan and keep everything going at night. Or put them into the power grid to. To make things out you know if you don't wind power and we dropped the U lucky the power of black state. And applicable today to great but it turns out but a possibly get kind of a bit more happening you know. It's not suitable piece and particle could not of it are. They can still be very useful work and agreed that the first thing happened that I talked about you could restart over the yet we are going to need. You read I think it'd be peaceful thing. Starting to appear in Japan and ready to cool and money and that you go to the king of valuable. And haven't been material inside the wait for the think the people that stopped eating about what happened at about eight. So ten years from now. Of all the cars would either billion cars on the they did it well so ten years from now how many of our cars will be electric. I don't think I think it's gonna take a while so I think Aaron. And it and that we might see it and some people think may be fifteen cents to 20% of new cost sale will be electric. And although he didn't like some of the talks sometimes tend to propagate. I don't cut the key to change. But I think what we have to remember is that. Forget that we we think that the titled about it and it will book will be. If we can be the end of the road to the already some countries and sang we don't and allow vehicles out by the to be told by but the 20402050. I think actually most people will not want even by epic collapse out. An internal combustion engine in it by the time but it will take. A while I think the other big debate is gonna change it we're not gonna need a billion that parity in the peca because it. If we don't use shed autonomous vehicles. Some apple cup that you can have the same amount of ability he would fit the widget view it as 10% of the number of vehicles. We know about taking a look how cleanup day and and at making the electric baton rethinking the way we think about principal who together. And the electricity and felt driving autonomy are both very pickpocket. Yeah he still innate need internal combustion though for big trucks and planes and SharePoint. Partly that's it plain stupid but technically kind of internal combustion engine and yet it's very very how to make. The propulsion work it yet but that fifty that was built in app. And that the big articles critical. You can build big trucks has there is working on one of the best you know to be happy that I mean about the need to be really enormously have to be called the way to the truck but it picked my. Much longer and not be eligible after the group of really a great deal put to make talking what like that you could probably use the people trained in America. But but yet the good thing is that we make the cult electorate then we can still views. If you will be banned in other areas like aviation. And we went because it must damaged it to the it to the climate. Because. But what does that apply. Thank you very much Tom we appreciate it. As Tom Standridge from the economist talking to us about electric cars.