Electric Cars Are The Future, Are You Ready?

Posted by at 29 December 2020, at 12 : 31 PM

Electric Cars Are The Future, Are You Ready?

In the next five years, the automobile will change more than it has in the last fifty. Electric propulsion is already a reality that is going to spread considerably. Along with it, there are other technologies that, in the short term, will begin to radically transform transport.

Since the creation of the automobile, at the end of the 19th century, for practically one hundred years technical progress has focused on the mechanical improvement of all its elements, as well as that of manufacturing methods. The arrival of electronics, implemented on an industrial scale at the end of the 70s, on the one hand, allowed the car to have functions and devices impossible until then. On the other, it made the development of new systems faster and faster. Currently, we are in the middle of the third automobile revolution. Results such as the new electric vehicles are already palpable and, in a short time, we will see others equally exciting.

Electric propulsion

The electric car is a reality. Today it can satisfy the preferences and needs of the majority of motorists in most uses. The offer of models will multiply in the coming years and even new technologies will appear. For example, within the Volkswagen Group, there has been a development for an electric motor SUV with a separate motor for each wheel, which will provide an extremely wide scope for controlling the vehicle’s dynamics.

Autonomous driving

An example of how close autonomous driving is is the agreement that the Volkswagen Group has reached with the Qatar Investment Authority to implement, in 2022, a fleet of level 4 autonomous vehicles. ID Buzz prototype will circulate through specific areas of Doha for passenger transport. Closed-circuit tests are expected to conclude in 2020, to begin to be carried out in real conditions in 2021, and finally to implement the service in 2022.

Virtual reality and augmented reality Virtual reality

is already being used as part of the vehicle development process. In short, it will apply to features such as allowing a customer to view their car’s setup at a dealership or putting an image of the model they are looking for within a real background (for example, their home garage). The next step will be to apply it to the driving position, as anticipated by the ID VIZZION prototype. Along with virtual reality, augmented reality will soon be used in both development and production, which projects graphics and data onto a real image, as we can already see in the Head-up-display that incorporates the new ID.3.

High-speed networks

The volume of data that the car transmits and receives is increasing and, to take advantage of all the possibilities of the connection to the cloud, a network of greater capacity is required. Volkswagen already plans to install 5G networks in some of its factories to increase productivity. And, on the other hand, it is planned to implement 5G networks with a capacity of 20Gb / s in public locations. These high-speed networks will enable data transmissions on the order of terabytes between vehicles (C2C) and with infrastructures (C2X).

C2C and C2X communication

For most of the history of the automobile, the driver had only his senses. Not long ago, cars began to be equipped with sensors, such as ultrasound, radar, cameras, and lasers. Now the era has begun when cars will “see” much more than meets the eye. This is the communication of the car with other cars (“car to car” or “C2C”) or the car with the infrastructures (“car to X” or “C2X”). There are already models like the new Golf that exchange traffic-relevant information with other vehicles and the traffic infrastructure in a radius of up to 800 meters.

But you can go much further, especially as faster data networks arrive. For example, a car will be able to receive images from the camera of the one in front of it and, thus, the driver can see if an overtaking is possible. The images from the traffic cameras can also be used in the infrastructures and even an automated car park building can take control of the car, once the passengers have left it, to park it and bring it back when required. The future is exciting, but will it be expensive?

Buying your new car

If one of your big goals is to buy a new car, with a savings plan you can plan with time and foresight how to achieve it without getting into debt. One of the big financial decisions is buying a car, both for the amount that is required for it and for the way it can affect your personal finances if you don’t plan it properly. Firstly you should look at a car payment calculator.

Electric Cars Are The Future, Are You Ready?

The ideal way to avoid incurring debts that, due to the interest rates, result in an onerous purchase, is to establish a savings plan to buy your new car. To do this, you must begin to organize your finances in this way:

Evaluate your income and your job security.
Review your fixed expenses and your level of debt.
Create a budget that considers how much you earn, how much you spend, and how much you save.
Identify how much you can allocate toward your new car savings goal.
Set up a separate account so you aren’t tempted to use that money for other expenses.
Invest in a savings and investment instrument that gives you the maximum return.
Define the urgency of the purchase so that you can decide if you can wait to save the necessary amount or you should use a credit.

First of all, be clear that the savings for the purchase of the car must be separated from the savings that you allocate to other objectives, such as your emergency fund, your retirement plan or any other medium or long-term purpose. Second, consider that having healthy finances will help your credit score to be high and you can access a car loan, if you need it. You should never buy a car that may be too expensive for you in the long run.

Ask yourself some important questions

Define the type of vehicle you are going to buy according to your needs. Will you use it in the city or on the road? On paved roads or country roads? For transport or cargo? For individual or family use?

Determine how much you are willing to pay. According to the type of car, it will be its price, and according to your financial possibilities or your willingness to go into debt, you must define whether you will buy a new one or a used one.

Compare prices. Do not get carried away by the first offer, look for options and negotiate. Many dealerships offer discounts or additional equipment at no cost if you offer to pay cash.

If you are going to use a loan, investigate those offered by different institutions. You should not only look for the lowest interest rates but also that they are fixed and that you can make advance payments without penalty to pay off your debt before the loan term.

Schedule your savings to buy a new car so that every month, or within the term you establish, a fixed amount is automatically transferred to the account destined for that goal. That is the easiest way to avoid the temptation to spend your money elsewhere. Remember that no financial goal is impossible, it only requires that you put your finances in order and be disciplined in your spending and saving for your new electric car.

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