Are electric vehicles going to end up costing more or less than gasoline vehicles? Certainly, it’s a new technology but there are also fewer moving parts and an easier production process for electric vehicles. Electric motors are actually easier to produce than gasoline engines with reciprocal pistons and all the associated parts. So what’s going to be the future? Here is an article from CleanTechnica that says we should oppose an $80,000 compliance car meaning that states are moving towards requiring electric vehicles and if you want to own a personal vehicle, you have to comply with that. But if you have to pay $80,000 to get one, that may not be a good trade-off.
In fact, the author of the article says is instead of seeing the price of EVs drop it seems most manufacturers are content to keep their EV offerings at or above the average price of a new car and that’s during the crazy pricing of 2022, with a couple of exceptions. But these expensive EVs are still subsidized. Even if there are price caps on the credits. What that means is that the government is subsidizing vehicles but there are limitations on your income and how much the vehicle can be.
So what are the future projections for electric vehicles? Are they going to be more expensive, more importantly, are they going to be purchased or are you just going to have to lease them? Do you have to pay a monthly fee as you do for your phone? Electric vehicles have the prospect of making transportation a little bit simpler where you can refuel, so to speak, at your house. You can plug it in at night and you have your range the next day, but that assumes that first of all, you have a place to plug it in. If you live in an apartment or park on the street that’s not going to work. Assumption number two is the range will get you everywhere you have to go before you have to come back home. You could charge outside the house, but right now that takes a few hours. Last, assumption number three, is that the price of the vehicle is palatable. Meaning that you can afford it. You know if you have an $80,000 vehicle and you get a five-year loan at today’s rates, you’re going to be well over a thousand dollars. You’re going to be probably $1,400-$1,500 a month for a car payment for that car for an $80,000 electric car if you finance, which most people do. So how’s that going to work out for electric vehicles? Not counting the fact that right now it’s unclear whether or not the cost of electricity to refuel per mile is at or above the cost of gasoline. Tell us your thoughts in the comments. Do you have an electric vehicle? Are you finding it convenient or is it still too early to tell in the evolution of that technology?