Why Are Electric Cars So Expensive? [Complete Info]

Why Are Electric Cars So Expensive

Due to pollution and unnatural climate changes, electric cars gained popularity. Yes, gas cars are one of the largest contributors to pollution as the fuel required for gas cars is petrol and diesel; which indirectly disturbs the planet if used extensively. On the other hand, successful companies like Tesla launched automated electric cars which can help nature to stay clean and green. Electric cars were never as common as it is now because a mass of people cannot afford it. You may wonder why are electric cars so expensive?

Here are the reasons why are electric cars so expensive

1. Batteries

Batteries are one of the reasons why Electric vehicles are so expensive however a lot of researchers are trying to get down the prices of electric cars but the battery value in the market doesn’t hit the ground.

2. Manufacturing

Recently, LFP batteries came into the industry, thanks to the Chinese automaker BYD who used it in its electric sedan, BYD Han. LFP batteries are much cheaper than conventional lithium-ion batteries due to the absence of cobalt.

However, LFP batteries always have some low energy density because of similar reasons. Fortunately, BYD developed its in-house cell-to-pack to tackle this problem. “CTP technology is looking to boost up the energy density by more than 50% in the upcoming future adoptions”, says the automaker.

3. Are all the EV’s batteries the same?

Lithium-ion technology has often dominated the rechargeable battery sector since it had come to market by Sony Corporation in 1991. SUVs and buses got the benefit provided by Lithium-ion technology; which improved lifespan, power, weight, and cost. While Lithium-ion cells, like most batteries, have the same basic components: two electrodes – a cathode and an anode – and an electrolyte that helps to keep the charge in them, The amount of energy they hold depends on the differences of the materials used.

Short distance covering vehicles can take advantage of cheaper and less powerful cathode chemistry that combines lithium, iron, and phosphate. And long-distance covering higher-performance vehicle materials, such as lithium-nickel-manganese-cobalt oxide or lithium-nickel-cobalt-aluminum oxide because of their high energy density.

Moreover, Tesla aims to produce cobalt-free Batteries. Tesla also wishes to produce cobalt-free lithium-ion batteries in the future time. As of now, Tesla uses only 5% cobalt in its 2170 cylindrical cells which are produced by the Panasonic company.

4. Solid-State Batteries Can Make Electric Cars Cheaper

Solid-state battery technology is still to link up with electric vehicles. Human technology is still under the sheds of un-development, and it will need few more years to become commercially viable. Solid-state batteries are believed to significantly reduce battery cost while they can increase the energy density all life.

Is it all about the cost?

No, it is not only about the cost but also an issue with the driving range. While the most expensive EVs can travel 400 miles (640 kilometers) or more before a top-up, but consumers are really anxious about how often they will need to give their cars a recharge. Automakers and governments have become directly involved in this as these electric charging pumps are quite less all over the world because of their less demand and use in the market.

Electric vehicles are more common on international roads. But remains out of budget for many. The cost of a battery inside an EV forms the major decision of the final price of the vehicle. Mostly, Petrol cars are cheaper because petrol is costly than other fuels as it is also called liquid gold; and diesel cars are a bit expensive because diesel is cheaper in the market. But wait, there are just other cars that are sold only for the rates of their batteries and nothing else.

Why should we use these Electric vehicles over gas vehicles?

There are plenty of reasons that each and every one of us thinks that electric vehicles should be cheaper than gas cars. Because EVs are the future of the planet and gas cars take up too much energy just to pollute the climate. While Electric vehicles do not harm the climate. They are going to be a necessity in the future so why not, adopt them now. The future will definitely give us cheaper electric cars till then we will be discussing why electric cars are so expensive and how to reduce their cost?

Are electric cars overpriced?

Yes, electric cars are costly just because of their high cost batteries.

Are electric car batteries worse for the environment?

No, electric cars batteries have a positive effect on the environment.

Is electric car more environmentally friendly?

Yes, electric cars are environment friendly.