Suncor Energy Inc T.SU

EV Charging Stations

[Experienced]

Was grocery shopping today at the local Loblaws Superstore and noticed a new installation of four EV charging stations.  Went over and checked them out.

So we were in the store grocery shopping for 32 minutes including getting through the checkout line.  The EV charging stations had a $1 dollar hookup fee and the cost was 50 cents a minute for the 150kv charging speed. With a typical long range EV battery and charging from 10% to 80%, it would take 27 minutes for a total cost of $14.50. To fill up my SUV gas tank from 10% to 80% at local gas prices would be $65.  Based on current mileage estimates for the IONIQ5 I ordered, this pice comparison would be close for the summer and in the winter the comparison would be about $25 dollars for the EV.

Now, I plan to do my own charging at home but this illustrates two things. One, that even at commercial charging stations, the fuel cost is significantly lower and two, more and more retail outlets are installing EV charging stations.  So while I used Loblaws as an example there is a Metro grocery store next door that has 3 chargers.  The other point is that even those EV buyers that can't charge at home/their condo/apartment, there are facilties alreasy available to charge while you are doing something else like grocery shopping.

Anyway.  Something to consider when making investment decisions.

[Torontojay]

Here is something I observed. I have a neighbour who charges his Tesla on a nightly basis or close to it which leads me to believe a full charge doesn't hold as advertised. Now that I'm on this topic, I probably should replace my iPhone as I'm now having to charge twice a day without changing my usage time. My iPhone gave me 4 years without replacement. How long will your EV car last?&

[Experienced]

 Jay....Most EV manfucturers warranty the batteries for 8-10 years or 160k km.  We have two cars that are over 8 years old ....one has 170k km and the other about 70k km.  TSLA says their batteries will last much longer - maybe your neighbour has a dud. I  have a hand me down IPhone10 from my wife when she got a 13 and it is 6 years old and doing just fine battery-wise. As

[mbuch]

As electricity demand goes up and up with all this "decarbonization" ie. EVs and heat pumps, our current electricty grid will be more and more compromised. Expect the cost of charging these vehicles and heating cooling homes to keep increasing as billions, if not trillions of dollars will be required to generate and transmit more power to keep up with the increased demand. It's

[Experienced]

mbuch...yes as I have posted many times, there will problems in the transition and investing in companies with solutions to these problems is where big money is to be made.  You mentioned decentralized power or as some call it, dispatchable power.  I have invested in a private company doing just that.  Their current round of financing is at a valuation 13X my cost base. Big

[mrbb]

Lets do some math. I have to make some assumption here coz i dunno which 2023 IONIQ 5 model you ordered so i use the lowest price model shown here for  51,651.70 CAD Build and Price | Hyundai Canada 51651.7 x 13% HST - $5000 free money = 53,366.42  CAD out the door You said above it would cost $14.5 in the summer and $25 in the winter to charge, i assumed per week. Let average

[Marty47]

I like the math lol but you forgot anything that break after the 60000 km base warranty anyway I like my Math better I have a ram 1500 2014 and just replace breaks in 10 years and I like a truck as #1 because i carry a lot of stuff , my truck was paid cash  I'm at 128000 km , 50k at 5% invested in a tfsa give me over 30 k in return in 10 years so I will have 80k cash then I will buy a

[mrbb]

GM fan here.  However, my next truck won't be any of the big 3. My truck save me money by hauling stuffs around. Paid my truck in cash too. In the summer i mostly ride my motobike, which run at 1/6th fuel cost of my truck. It's like looking at gas pump prices and divided by 6. 

[mrbb]

It's ironic that batman and robin main thrust of EVs are their massive cost saving of ownership,  the big $$$ rebate, the low cost charging, the low maintenance.  Batman and Robin, with their great financial analysis and investment background, touted buying EV on the cost saving alone. Batman and robin always said they ain't into EV for green or noble causes but just on the cost

[mrbb]

i now learned the my math on EV cost payout was too conservative, way too optimistic. Real life battery replacement cost is way more than what the media or Robin had quoted.   A guy from Ontario got a quote to replace his just outside the warranty IONIQ EV battery for $50k. Eventually he scrapped his ioniq for $1000 than replacing his EV new battery.  I will cut and paste some

[bttmfischer]

The problem is that while we drivers of IC vehiles have alternate source for gasoline, electricity on the other hand in most cases monopolized by the provinces. You just can't shop for a better price to top up your EVs battery. An acquaintance got a notification that rates of eletricty will increase in 2024 as he has an EV charging outlet. I am sure that the rates are not going to be less as

[Marty47]

It's supply and demand , you can bet when everybody drive electric car it will be more expensive than oil to fill up ,  governement will tax electricity more and more , the rate will increase  , it's all written in the sky , if oil tax gone , they will tax your electric shaver , we will then ride hoses and bicycle like in china lol 

[mrbb]

haha, no. China want westerners to hooked on EV so they can continue to export their EV, solar panels, and windmills.  China will be using mostly coal and NG to power up their economy as a way to catch up and beat the west. 

[dandu1924]

Yes the electricity  will be taxed as the rest of the energy, look  the Oil, Natural Gas, Fuel, Propane Gas, Gasoline etc, when the oil is going up all the rest of the energy going up too, so pretty soon the electricity  will be taxed too and can you imagine how much will cost to recharge the EV  in the countries where the electricity is very expensive as crazy, just think

[Torontojay]

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