Are electric vehicles more affordable?

Created By:
Renzo Da Silva
September 26, 2023

The Small Business Development Centre (SBDC) has taken a significant stride forward in promoting electric mobility throughout The Bahamas. In August, the SBDC reached out to entrepreneurs across the islands with the pivotal electric vehicle survey, aiming to gauge perceptions and readiness for a paradigm shift to greener transportation.

Through this hands-on event, entrepreneurs could test drive a range of electric vehicles, deepening their understanding and appreciation for electric mobility. Easy Car Sales provided in- sights into the functionality, affordability, and availability of EVs, while the SBDC illuminated avenues for funding, eligibility, and application procedures.

This survey set the scene for the grand unveiling of the E-mobility Initiative in September in Eleuthera, in partnership with Easy Car Sales Ltd. The initiative showcased a groundbreaking three-day electric vehicle roadshow between September 26-28.

Phyllice Bethel, deputy executive director at SBDC, emphasized the larger objective, stating, "The aim of the Electric Mobility Initiative is to inform entrepreneurs about how electric vehicles can enhance their business profitability and sustainability. With rising fuel costs and the need to traverse long distances, it was essential to launch the initiative in Eleuthera."

Pia Farmer, co-founder of Easy Car Sales, highlighted the international trend: "Sales of EVs have soared, capturing 10 percent of all new car sales in 2022. The future is electric, aligning with both national energy targets and global environmental commitments."

Some compelling reasons to consider the switch to EVs:

• Predictions suggest that by 2030, electric vehicles will constitute over 60% of global vehicle sales.

• By the end of 2023, electric vehicles may become as affordable as their gasoline counterparts or even cheaper.

• Electric vehicles offer fuel cost savings, benefit from a mere 10 percent customs duty, and significantly reduce pollution and climate change impact.

Moreover, echoing the commitment to green initiatives, Drive Green Bahamas, steered by Benjamin Davis, the first funded client of the SBDC, continues to showcase a pioneering zero-emission car rental fleet.

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