6 November 2020

Will electric cars become cheaper in the future?

Electric cars have created a good reputation due to their ability to sustain a greener environment and a cleaner transport system. Besides, they are very efficient, economical to operate, and have an incredible performance on the road. As such, they are increasingly becoming popular around the world than ever.

However, most people today shy away from electric cars due to their hefty price tags as a result of their uniqueness. Most people wonder and ask questions if there will be any affordable EVs in the future. Are you looking for answers? Well, you have come to the right site. We have identified the reasons why electric cars will be cheaper in the future for your better understanding.

Easy and fast-charging stations

The first reason everyone will be able to get a cheap electric car soon is that most of them are easy and fast to charge; thanks to their high performing batteries that have a unique battery technology system. To add, the charging stations have unique designs that allow for easy and fast charging. Therefore, it will be very economical and reliable to charge the batteries than ever before.

Tesla Supercharger station

Moreover, you will find these stations in public and home spaces to allow for easy access and usage. For example, some charging stations can get installed in homes or office places. So, you can always charge your fancy electric car and head out with a full battery for ultimate efficiency.
Typically, electric car charging stations are available in different types designed for specific car models and perform differently. What’s more? The cost of installing and using these green charging stations is relatively low. As a result, EVs will be of no doubt, be cheap in the future.

Affordable batteries

The lithium-ion batteries used in electric vehicles were initially expensive, making their overall cost quite hefty. With the battery technology used, electric vehicle batteries’ price has decreased by about 70% since 2010. As this technology continues to evolve and improve, EV’s lithium-ion batteries’ global production will gradually increase. As a result, the prices of EVs will continue to decline and be affordable in the future.

Additionally, the battery technology allows for fast charging at the green charging stations, cutting down energy costs. Depending on the battery’s capability, the average time taken to charge full, ranges from 1 to 5 hours. And after the charge, you can drive for a considerable amount of time.

Cheap running and maintenance costs

The up-front costs of electric cars may be higher for specific models. But, the general cost of running and maintaining an EV is incredibly lower. Why? The reason is that electricity is somewhat cheaper than diesel or petrol fuel. In other words, you will spend less money at the charging stations. Besides, the prices of diesel and petrol fuels tend to increase daily. This makes it quite costly to run and maintain ordinary cars.

Electric car maintenance

Additionally, EVs boasts a simple design with no oil to change or spark plugs that require much money to service. Therefore, the costs of servicing these wonderful vehicles are reduced and easier to maintain. So, yes, there will be plenty of very affordable EVs in the future.

Excellent range of EVs

Most people perceive electric cars as their future stylish means of personal transportation. The vehicles also have entirely an incredible and reliable performance most individuals love. As such, everyone desires EVs, meaning that the current diesel or petrol-based vehicles will unlikely be available in the future.

Furthermore, the quest for adopting a cleaner transport system motivate tons of vehicle manufacturers to design many EVs. In fact, we already have a wide range of electric cars in the market today. Still, their production continues, and eventually, there will be tons of excellent options to choose from. The producers will then have to lower the prices of EVs due to competition.

Categories of EVs available today

Micro EV
They are incredibly small and are common in most towns and cities.

Small electric hatchbacks
Are another form of excellent EV due to their small size. The superb factor about these cars is that they require low amounts of power.

Electric SUV
These consist of much bigger EVs than the others and commonly require longer to charge.

So what are the most affordable EVs currently available?

Smart EQ ForTwo EV

Smart ForTwo EV

It is a two-seater urban car designed and powered by battery electricity. As you can expect, the Smart EQ ForTwo EV comes with all the standard safety equipment you wish to get in an electric car. Even though they are relatively small, these electric hatchbacks will still give you all the style and performance you desire.

MG ZS EV

MG ZS EV

If you are looking for the best low-cost electric car to buy now, MG ZS EV is the one to go for. It is continuing to show that it’s one of the best family-sized electric SUVs in the UK. Besides, this car boasts a five-star Euro NCAP rating and performs much better than the rival petrol-powered models. More importantly, MG ZS EV has more safety technology.

Skoda Citigo-e EV

Skoda_Citigo_EV_IV

Skoda Citigo-e IV is among the cheap electric cars you’ll find running around in most cities and towns. Though small and require plugging in, its silent drive feature for acceleration makes this car a classic choice for many. Besides, it is comfy enough to make your city journeys quite painless.
Other models you’ll find include the Volkswagen e-UP and Dacia electric car. That said, you can find a cheap electric vehicle out there, and some models will be even less expensive in the future.

Tax benefits and government grants

Electric cars in the UK bring some excellent tax benefits and incentives to the owner. They are vehicle excise duty-free and doesn’t require the owner to pay for road taxes. Moreover, the EVs are exempt from the congestion fees. Interestingly, some towns in the UK offer free parking spaces for these beautiful cars.

The government also provides a grant of up to £3500 for these cars plus other more advantages. With all these offers, there is no doubt to have more affordable EVs in the future.

OLEV_grant_UK_Government
You could receive up to £350 off a home charging station with the Govt’s OLEV grant

Summary

As electric vehicles continue to be popular, there’s no doubt that their prices will continue to decline. They are not only green but also bring massive benefits and convenience to the owner.

Plus, the charging stations available make them very efficient and cheap. Therefore, you can start saving some money to get yourself a decent and affordable electric car in the future.