More efficient manufacturing, falling battery costs and intense competition are lowering sticker prices for battery-powered models to within striking distance of gasoline cars.
market has hit an inflection point,” said Randy Parker, chief executive of Hyundai Motor America, which will begin producing electric vehicles at a factory in Georgia by the end of the year.
Even if Republicans gain control of the White House and Congress and follow through on promises to dismantle electric vehicle subsidies, they may not be able to undo the market forces pushing down prices.
Electric cars, sales of which have slowed in recent months, are still more expensive than gasoline models, costing an average of $55,252 in the United States in April, according to estimates by Kelley Blue Book.
High prices and the fear of not being able to find a place to recharge are the two biggest reasons people hesitate to buy an electric vehicle, surveys show.
Manufacturing costs are dropping as traditional carmakers, who were slow to sell electric vehicles, start to apply their decades of experience with mass production to the new technology.
But costs will come down as companies learn how to produce the cars more efficiently, Mr. Biswas said — for example, by eliminating rare minerals from electric motors or replacing copper wiring with aluminum.
The original article contains 1,370 words, the summary contains 192 words. Saved 86%. I’m a bot and I’m open source!
This is the best summary I could come up with:
market has hit an inflection point,” said Randy Parker, chief executive of Hyundai Motor America, which will begin producing electric vehicles at a factory in Georgia by the end of the year.
Even if Republicans gain control of the White House and Congress and follow through on promises to dismantle electric vehicle subsidies, they may not be able to undo the market forces pushing down prices.
Electric cars, sales of which have slowed in recent months, are still more expensive than gasoline models, costing an average of $55,252 in the United States in April, according to estimates by Kelley Blue Book.
High prices and the fear of not being able to find a place to recharge are the two biggest reasons people hesitate to buy an electric vehicle, surveys show.
Manufacturing costs are dropping as traditional carmakers, who were slow to sell electric vehicles, start to apply their decades of experience with mass production to the new technology.
But costs will come down as companies learn how to produce the cars more efficiently, Mr. Biswas said — for example, by eliminating rare minerals from electric motors or replacing copper wiring with aluminum.
The original article contains 1,370 words, the summary contains 192 words. Saved 86%. I’m a bot and I’m open source!
Chargers may be found at plugshare.com. L1 and L2 chargers is as simple as plugging a charging cable into a 120v or 240v socket.