EVs vs Gas Cars: Will Electric Vehicles Always Be the Priciest Option?

Electric Vehicles vs. Gasoline Vehicles

• Electric vehicles (EVs) are a new technology, but they have fewer moving parts and an easier production process compared to gasoline vehicles.
• Electric motors are easier to produce than gasoline engines, which have reciprocal pistons and many associated parts.

The High Cost of EVs

• Some argue against paying $80,000 for a compliance car, especially when states require electric vehicle adoption.
• EVs are not becoming more affordable, with many manufacturers keeping prices above the average price of a new car.
• Despite some exceptions, expensive EVs are still subsidized by the government, even with income and vehicle price limitations.

Future Projections for EVs

• Are electric vehicles going to get more expensive, and will they be purchased or leased (like a phone)?
• Electric vehicles offer the convenience of charging at home overnight, but there are limitations:
  • You need a place to plug in (not ideal for apartment dwellers or those who park on the street).
  • The vehicle's range must be sufficient for your needs.
  • The price must be affordable; an $80,000 vehicle could result in monthly payments over $1,000 for a five-year loan.

Challenges in EV Ownership

• The cost of electricity for refueling may or may not be more affordable than gasoline.
• How will these factors affect the adoption of electric vehicles in the future?

Join the Discussion

• Do you own an electric vehicle? Is it convenient for you, or is it too early to tell if the technology has evolved enough for mainstream adoption?
• Share your thoughts in the comments!

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So, 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. The electric motors are actually easier to produce than gasoline engines, you know, with reciprocal pistons and all the associated parts.

What's going to be the future? This is an article that says we should oppose an $80,000 compliance car, meaning that with states requiring electric vehicles, you have to comply with that. If you have to pay $80,000 to get one, that may not be a good trade-off. In fact, what this author says is that 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, even during the crazy pricing of 2022. 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.

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? You will have to pay a monthly fee, like you do for your phone. Electric vehicles have the prospect of making automotive transportation a little bit simpler, where you can refuel, so to speak, at your house. You can plug it in at night and 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.

Number two: the range will get you wherever 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. And number three: 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 probably looking at $1,400-$1,500 a month for a payment for that car, for an $80,000 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?