This started as a ‘putting thoughts to paper’ exercise in my investment diary, so it is rather long and rambling. However, I thought I’d post it in case anyone is interested, and to hear others thoughts.

Skippable introduction

About 6 months ago, I got a call from Toyota. I’d bought a pre-reg car from them 2 years previously and they were calling to see if I wanted to upgrade to a hybrid. They gave me their patter about saving money and saving the environment, and sent me some cars with prices. However, when a ran the maths I found out the extra cost of upgrading wouldn’t be offset by the only slightly better MPG, and that their new car emissions weren’t much better than mine. When I emailed them outlining my figures and how I arrived at them, they (perhaps unsurprisingly) went quiet.

However it did get me thinking. For some time, I’d assumed my next car would be a hybrid, or maybe even a fully electric car. What had always put me off was the slightly goofy styling and tiny range of the old Nissan Leaf which I’d generalised to all electrics. I thought that the technology would be better and cheaper in the future, so I’d wait… but maybe now was the time to have a look. When I looked at the new range of electric cars, I was presently surprised. Price hadn’t really come down, but the range and technology had improved massively. I also liked how the main ‘aging’ issue over time was lower battery range, rather than reliability. I got quite excited about it, and I started to research electric cars, charging, finances, etc, and decided I wanted my next car to be electric. I then looked at which car I would buy. There were lots of options, and things like the new Leaf and Kia e-nero did well. But when I drilled into it, there was a standout winner

$TSLA Tesla model 3

The battery technology (for example, pre-warming the battery to ensure quick and efficient charging), and the ‘future proofing’ built into the model (regular software updates and extra hardware built in) put it way over the top. I usually sell a car when reliability/cost to maintain becomes high, and old technology (efficiency, safety etc – not just bells and whistles) fall too far behind. The battery is arguably the most…

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