The Cold Reality: Buying an Electric Car for Taxi Business in 2024 – Is it Worth It?

Should YOU buy an EV in 2024?

Buying an electric car as a PCO driver in 2024 could be a great decision. London’s Congestion Charge exemption for EVs presents significant daily savings, and electric cars boast lower fuel and maintenance costs in the long run.

By 2024, there will be a wider selection of affordable EVs with better ranges, and charging infrastructure will be even more developed. However, carefully consider your PCO driving patterns – if you cover a lot of unpredictable distances or can’t reliably charge at home, a hybrid vehicle might be a better interim solution until the electric car market and infrastructure further mature.

Is it worth buying a PCO car for summer 2024?

Deciding whether to buy a PCO car specifically for summer 2024 depends on multiple factors.

If you operate heavily within London’s Congestion Charge zone, the savings from an exempt EV could be significant by then. With improving charging infrastructure and a wider selection of affordable EVs with longer ranges becoming available, summer 2024 could be a great time to go electric.

However, if flexibility is crucial and your driving patterns involve unpredictable journeys outside your regular area such as regular airport taxi service, a traditional petrol or hybrid vehicle might still offer more peace of mind.

Consider your mileage, home charging options, need for flexibility, and potential incentives before making your decision.

Is it worth buying a PCO car for winter 2024?

Buying a PCO car for winter 2024 could be a smart investment, especially if you primarily operate within London’s Congestion Charge zone, saving you significant fees with an electric vehicle.

However, carefully consider how winter weather impacts EV range and public charging access.

If you do a lot of long-distance driving or lack reliable home charging, a traditional car might still be more practical in winter. Factor in these aspects, along with the wider selection of EVs with improved cold-weather performance likely available by winter 2024, when making your decision.

Is it worth it for PCO or Taxi drivers to switch to an electric car in the Winter?

Based on our findings and feedback from PCO and Taxi Drivers, the honest and genuine answer is that buying or switching to an Electric car is not worth it for Winter.

Apart from Winter, before switching or buying an electric vehicle, you should consider many other vital aspects. We have listed a few pain points that will help you get a clear idea about Electric cars for PCO or private hire work.

Are you planning to rent a PCO Electric car?

We received feedback from PCO and Taxi drivers, who were already driving an Electric vehicle, stating that “Better to drive hybrid cars in the winter for PCO Work.”  “However, if you have home charging facilities, your taxi and private hire business become more profitable.”

But guess what? You must have a driveway if you want to install a home EV charger. What about if you are living in an apartment? Also, there are a lot of pros and cons and costs that need to be considered before you commit to installing your home EV Charger. The point that we would like to indicate “Is it worth it for PCO or Taxi Driver?”

PCO Drivers those renting an Electric Vehicle during the winter. Please consider the terms and small print before you commit to your Electric PCO Car rental.

What is the main reason PCO Drivers are more concerned about switching or Buying Electric Vehicles in 2024?

See below listed vital facts that PCO Drivers are facing at present to switch to an Electric vehicle for their Private hire work.

• Increased charging cost by 42% in the Public Charges
• Congestion and waiting time to charge the cars
• Queueing for Charging Slots
• Parking and waiting charges may apply
• Potential Penalty Charge Notice (PCN) and Hidden Terms for waiting times
• All the charging costs are not fixed. Constantly fluctuate the price like fuel
• Unable to run Long journeys
• Hard to find a charging station when it’s necessary
• Technical issues at the Charging Stations
• Sudden cost increase on Electric Vehicles
• From 25th December 2025, Electric cars will no longer be exempt from the London Congestion Charge.

How Cold Weather Affects Your Electric Car Battery? Buying an Electric Car Top Tip!

When buying an electric car for PCO or a Taxi business in 2024, one of the most important factors to consider is the effect of cold weather on the car battery.

Cold temperatures can significantly reduce the performance of a car battery, leading to reduced miles range and increased charging time. This means that an electric car that typically has a range of 250 miles in the summer may only have a range of 175 miles in the Winter.

As a PCO and Taxi Driver, you will be using motorways without a doubt. Motorway usage during the Winter time will cut down more battery range. Electric Cars or EV performance will decrease even further if you are an occasional motorway user.

This means that an electric car that typically has a range of 250 miles in the summer may only have a range of 175 miles in the Winter.

Additionally, a car battery that usually takes 8 (7 kWh Home Charger) hours to charge may take up to 10 to 12 hours in cold weather.

Fortunately, electric car manufacturers have developed advanced battery technologies that can help to mitigate these effects. But essential to understand how cold weather affects your car battery before switching to an electric car. Moreover, you must check your profitability.

Home and Public Electric Vehicle (EV) Charges

Regarding charging your car battery in Winter, there are two main chargers available: home chargers and public charging stations.

Home chargers are designed to be used in garages or driveways. They are typically more reliable and time-saving, than public charging stations. Plus, Home chargers are more cost-effective, as you only have to pay for your electricity.

Public charging stations are less time-consuming than home chargers. They typically have multiple charging ports, such as rapid charging slots, allowing you to do fast Charging.

However, public charging stations can be expensive, as you have to pay a fee for each hour of charging. On the other hand, public charging stations are designed to be used in public places such as parking bays, road sites, petrol stations and a few EV Charging areas on the road or Supermarkets.

The Costs of Charging Your Electric Car Battery in Cold Weather

The costs can be high when charging your car battery in cold weather. Most Electric Cars consume a lot of battery power to the heater and stop car windows from fogging. Alternatively, in wintertime, you will use headlights and other lights earlier than usual; sometimes, in Winter, on a dark rainy day, you will use them all day.

Home chargers are typically more cost-effective than public charging stations, as you only have to pay for the electricity you use, depending on your electricity provider. But there is an initial installation cost, and other maintenance costs will be applied. Please check all the terms before you commit your installations.

On the other hand, public charging stations can be significantly more expensive. Depending on the station, you can expect to pay a fee of up to £2.25 per hour of charging. Some public charging stations may require you to purchase a subscription to access their services, which can add to the cost.

Why Public EV Charging is no more affordable for PCOs or Taxi Drivers?

Public EV charging stations have become increasingly popular due to their convenience, accessibility and rapid charging facilities.

However, public EV charging is no longer affordable for PCOs or Taxi drivers. Since early 2021 to date the EV charging cost has gone more than 42%.

When we publish this post, Pod Point charges a 7 kWh speed for £0.43 per kWh, and Shell Recharge sets a 175 kWh speed for £0.85 per kWh.

The cost of using a public charging station can be significantly higher than using a home charger, making it difficult for PCO Car Drivers or Taxi drivers to make a profit.

Additionally, many public charging stations require a subscription, admin charge, connection charge, location charge and other hidden costs behind the EV Charging solutions.

How public EV Charging cost increased over the period?

The chart below indicates that the price went really high within 6 months. There are many issues around this price jump, including the current energy crisis.

Is Charging Your Car Battery in Cold Weather Worth It?

The direct answer is its expensive compare to early 2021 when they introduce the Electric vehicle and charging stations. Based on our finding its not worth it for many aspects including waiting time to charge the cars. 

The costs of charging your car battery in cold weather vary significantly, depending on whether you use a home charger or a public charging station. Additionally, cold temperatures can reduce the performance of a car battery, leading to the reduced range and increased charging time. Overall, it’s difficult to say whether charging your car battery in cold weather is worth it.

Ultimately, the decision of whether or not to switch to an electric car for PCO or the Taxi business in the Winter is up to you. Suppose you can find an affordable home charger and are willing to deal with the reduced performance of your car battery in cold weather. In that case, it may be worth it for you to make the switch.

Conclusion

In conclusion, buying an electric car for PCO or Taxi business in the Winter can be a difficult decision. Buying or switching to an Electric car is not worth it for Winter. Cold temperatures can significantly reduce the performance of a car battery, leading to the reduced range and increased charging time.

For Uber Drivers, PCOs and Taxi Driver who are planning to rent an Electric Vehicle for winter time private hire work, please do consider before signup the rental agreement. But again, it is a difficult decision. Avoid long-term rental commitment if you want to try out the Ev’s

Ultimately, the decision of whether or not to switch to an electric car for PCO or the Taxi business in the Winter is up to you. Suppose you find an affordable home charger and are willing to deal with the reduced performance of your car battery in cold weather. In that case, it may be worth it for you to make the switch.