EV penetration is going to depend upon affordability. One of the key issues, at the moment, is the fact that EVs are still in the premium category for the most part.
In this video I discuss how this will be rectified over time. However, it is also important to note that EVs can come down while ICE does not have that ability.
▶️ 3Speak
I think mass adoption of EVs will be considerably contingent on the price of EVs flipping the price of ICE cars. The economy car buyer doesn't much care about "cheaper in the long run" because they only have so much money up front, to begin with.
And if the whole "age of prosperity" thing is going to happen, all these things we use — including EVs — will have to become much cheaper...
They will flip when they enter the segments ICE is in. They are already flipping premium brands.
As I stated, most EVs are not cheaper than a Toyota Corolla because they are not in the economy segment. Within a few years, they will be.
EV penetration is going to depend upon affordability
It will happen eventually. Takes time O.O back when computers started out they also weren't really affordable for everyone
I agree. EV technology still has a lot of room for improvement. From efficiency, to the cost of making the different parts. ICE on the other hand have pretty much stagnated. Most of their recent upgrades have been hybrids. If we can find cheaper ways to make batteries, or even reuse them efficiently, that could bring the price down a lot.
We will see what the next gen manufacturing process from Tesla offers. They supposedly are coming up with a new approach that will alter things completely, just like the megapress did.
Last news I've read is that they are able to produce a lot of batteries in their Texas factory.
Hard to know exactly. I hope they will let us know on the next earnings call. Supposedly they are producing enough to meet the Cybertruck production of 1K per week.
We will see if that is a sustained rate.
I feel like at least for where I live, EVs will never be dominant. Hybrids might become more common, but full EVs don't like our -30'c to -50'c winters that last for basically half the year.
I see some folks at charging stations, even in the winter, but it's pretty rare and I suspect it always will be unless they can do something to handle the unique brutality of Canadian winters.
Norway isnt a warm country and 80% of their new car sales are EV.
So yeah it is a challenge but changing.
Very true, Norway is almost equally brutal! If they can get the EVs to handle the temps it would go a long way in being more adoptable here. The drain on batteries in the cold makes some longer trips pretty difficult right now.
Yep And they seem to work around it.
This is a problem I would say will get solved.
I hope EV prices are dropped considerably in the near future and become more affordable somehow so more people can be able to buy them.
Need to enter a new segment. Premium vehicles will never reach mass adoption.