Should I buy an electric car?

Home / Should I buy an electric car?
6th August 2019 M. Team

Not sure if buy or not an electric car? Here you will find everything you need to know about prices, technology and types.

All the world’s leading car manufacturers are engaged in the electrification of their model ranges. But as things change, buying an electric vehicle is still a big step for many private consumers.

The price remains the main deterrent to buy an electric vehicle.

There are several models in the market below $ 50,000, but prices should decrease further in the coming years.

Precisely because of the critical mass, the cost of the vehicles will be reduced but they will not become cheap. But there will be more options, and inevitably the market will be a bit more competitive.

There are many models of purely electric vehicles in the market of manufacturers such as Hyundai, Kia, Nissan, Mitsubishi, Mercedes-Benz, Renault and Tesla, with prices ranging from $ 46,000 to more than $ 100,000.

Charging at super fast charging stations takes less than 30 minutes, or it can be charged at home at night.

Now electric cars are fast and luxurious: a family can sit comfortably and travel with a load range of hundreds of kilometers.

In the absence of a government policy aimed at increasing its absorption, the number of electric vehicles will change substantially only when prices are similar to the prices of traditional energy vehicles, or when they are sold at the same or lower price than the equivalent with motor combustion.

According to several studies conducted in 2017, the crossover point was expected to be in 2026.

A Deloitte report published in January identified the turning point in 2024.

According to most studies, the change should take place before 2030.

The decline in battery costs is driving this optimistic outlook. For many years, electric vehicle batteries have been held responsible for half of the total cost of the car, but this figure has been drastically reduced. In 2015, the battery accounted for approximately 57% of the cost, in 2019 it was 33% and by 2025 it is expected to be only 20%.

Over the next three to five years, there will be a wider range of electric vehicles in the price range of $ 40,000 to $ 50,000, with a few below the $ 40,000 threshold.

But in the meantime, the cost of using a gasoline car could be significant, especially for drivers who make many kilometers. And with interest rates at record lows, the cost of financing a new car is lower than it has been for some time.

In the market, purely electric vehicles have a range of batteries from 200 km to more than 500 km of battery life, but in general, the larger the range, the greater the battery and, therefore, the greater the general cost.

Hybrids are not really electric vehicles because their energy comes from fossil fuels, but their widespread adoption shows us how quickly a technology niche can become the mainstream in a short time. It is a sample of market behavior, following the price parity between electric vehicles and fossil fuel engines.