Comment on Electric cars will be cheaper to make than gas vehicles but with much higher repair and insurance costs

<- View Parent
mipadaitu@lemmy.world ⁨9⁩ ⁨months⁩ ago

An electric motor is SIGNIFICANTLY more simple to produce than an entire internal combustion engine. There are far fewer moving parts on an electric car than a gasoline one.

The battery is a significant cost, but not all cars need to have 300 miles of range. It is also possible that once the market is saturated (i.e. - several decades), that recycled battery packs will be cheaper to produce than batteries built from raw materials.

The major reason why electric cars are so expensive right now is because there are far fewer of them, and the ones that are being made have a target market of an upper-middle class household. They’re luxury/status symbols as much as anything else. Secondarily, there isn’t a large used electric car market yet.

There is a large potential for cost reductions. Assuming technology continues to improve, electric cars will drop below the price of gas and diesel for everyday driving. Internal combustion engines will most likely be reduced to specialty vehicles.

source
Sort:hotnewtop