Record Broken By Peugeot Electric Car

In a move to save fuel costs and be environmentally friendly, UK car buyers are now taking out car loans to purchase electric vehicles. The electric car market is quickly evolving to keep pace with this demand and to incorporate new technology.

In just a few short years, electric vehicles have made some remarkable strides.

When electric cars were first released, they were considered slow and packed little power. Consumers purchased them only for use when driving around town. These days are ancient history, with current versions rivaling sports cars in terms of performance.

For example, the new Peugeot EX1 electric car just set a new record at the Nurburgring race track in Germany.

This vehicle had already broken an electric vehicle straight-line speed record but that was not enough. It now also holds the electric car lap record at the same course where it won its first title. The car held an 85 mph average speed and was able to complete a lap in only 9:01. As a comparison, the Porsche 911 GTS RS has a lap record of 7:18.

The EX1 was manufactured to celebrate the 200th anniversary of Peugeot. It features two electric engines, one for each axle, and has a 340 bhp combined power output. Consumers whose interest has been peaked will be waiting a while to use car finance or pay cash for an EX1.

The vehicle is currently only available as a concept model.

When purchasing an electric car, UK consumers are focusing on the battery replacement cost, driving range of the vehicle, and trade-in value. Driving range has improved since these cars were initially released and it continues to get better.

Manufacturers are exploring efficiencies that will lower battery replacement cost. Trade-in value is largely dependent on the age of the vehicle because this determines how soon battery replacement will be required.