Battery packs are vital to the longevity and performance of any electric vehicle, but they are expensive. New developments in battery chemistries and assemblies like solid-state batteries can one day promise cheaper electric vehicles, or at least cheaper manufacturing. The current EV industry relies heavily on lithium-ion battery cells that are gathered and produced by a select group of manufacturers, like in China, for instance.
The price of importing multiple resources and parts from overseas also adds to the overall price an automaker must consider charging consumers in order to make a viable profit. You can certainly go out today and purchase an Internal Combustion Engine (ICE) vehicle that’s cheaper than what you’d pay for an electric vehicle. However, EVs have come a long way in the last decade alone, and there are plenty of solid electric vehicles that are not only cheaper than their ICE counterparts but more technologically advanced.
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Oh, and they produce zero emissions, which is a huge plus too.ĮVs are designed for longevity built around software, rather than mechanics. A 2020 Hyundai Ioniq Electric charging / Source: Electrify America Cheapest electric vehicles currently available #2022 HYBRID VEHICLES PLUS# You may be new to this world, and that’s quite alright, we’re elated to have you here.
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