Will Electric Vehicles Get Cheaper

26/04/2019
Posted by: The Electric Cars Trader Team

The statement everybody rightly makes about electric vehicles right now is “I will get one when they are cheaper”.

This is the single biggest problem we have with electric vehicles to date. EV’s have been much more expensive than regular petrol and Diesel vehicles. This high upfront cost means that most of the UK cannot afford additional cost, although it would be cheaper to own an EV in the long run.

In the early days of electric vehicles, just 10 years ago, they were only available to the rich that could afford the only good electric vehicle on the market. This was a Tesla which cost £70,000. Their first mass produced target market wasn’t exactly for the ‘masses’.

Fast forward 10 years, now every major manufacturer is looking to provide a flurry of electric vehicles for under £30k. Even Tesla who has only sold high end electric vehicles, has decided to sell the recently released Model 3 for just over £30k. Audi, BMW, Ford are all accelerating their research and development programmes to get a range of electric vehicles to the market as fast as possible.

*the above picture is the Seat el-Born estimated to cost £26,000

With competition, brings down prices. All these new manufacturers are looking at ways to produce the batteries cheaper and more efficiently than ever before. Similar to the smart phones when they were first released, they had huge advances in battery technology to extend the charge of the battery, and to reduce to cost of production. The exact same thing is going to happen to Electric Vehicles. The range of EV’s will go from an average range of about 125 miles today to 300 miles in 5-10 years time. Better manufacturing processes and cheaper material costs will also make the overall cost of a vehicle cheaper.

Purchase a cheaper EV now!

Renault reduced the upfront cost of Electric Vehicles by introducing a battery leasing scheme on the Renault Zoe. The owner of the vehicle would pay a lease on the vehicles battery so that it was not included in the initial purchase price of the vehicle, making it cheaper up front. In the long run you are leasing a battery which is an additional cost. Therefore it may not be cheaper to run an electric vehicle if you are required to pay the lease on the battery.

Renault Zoes are available on our website from £6,000. Go to

https://electriccarstrader.co.uk/forsale/

Yes, They will get much cheaper!

Battery manufacturers have been working hard on finding new materials and methods of creating batteries for electric vehicles that can hold more charge, can be charged quickly, can be produced cheaper and are safer than ever. There has been a lot of innovation in battery technology already that has brought the cost of it down, but it is believed that they will be much cheaper in the next 2 – 3 years.

Just Remember that if you can manage to pull together enough money to pay for an Electric Vehicle now, it has been proven that Electric Vehicles are already cheaper to run (including the initial cost of the vehicle) than a regular Car.

 The Honda e will cost from £28,000 and be available from Autumn 2019

 

Electric Cars Trader

2 Comments

  • Angela Johnstone

    Pressure needs to be placed on the Government to subsidise Electric Hybrids and also reassure on Car manufacturers to offer Scrappage scheme on all models so that the environment can benefit The Green Party need to also put pressure on the government to help This needs to be sorted now not in 2/3 years time

    • Ben Webster

      Hi Angela, thank you for the comment. We agree that pressure needs to be put on the government ASAP. It’s a shame the government are so distracted with other matters right now. They reduced the incentives for new EV’s last year and there is no scrappage scheme offer right now… we do hope this will change soon.

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