News: EV’s to price as low as gasoline cars?

What is the difference between EV and gas car pricing?

Generally speaking, electric vehicles tend to be more expensive upfront than their gasoline counterparts.

This is because the technology and components required to build an electric car, such as the battery and electric motor, are more costly than those used in a gasoline-powered vehicle.

However, electric cars often have lower operating costs over the long term, such as lower fuel and maintenance expenses, which can help offset their higher upfront cost.

Additionally, many countries offer government incentives, such as tax credits or rebates, to encourage the purchase of electric vehicles, which can help make them more affordable. The price gap between electric and gasoline cars is expected to narrow in the coming years as the technology becomes more advanced and production becomes more efficient.

How is the price gap closing for consumers?

There are a couple factors at play when it comes to closing the price gap for consumer EV’s and gas cars. One of them being the price drops of the raw materials needed for the parts of which the cars are made.

Secondly, there have been a lot of investments by the big car manufacturers to ramp up the factories to be able to mass create batteries and other parts for the electric cars.

Another factor is that gas prices have gone up and many countries are facing a recession, which means that cars are bought less.

To make up for it, speeding up the process of building electric vehicles with the help of financial incentives, is more appealing to car manufacturers.