European electric car sales growth will be hit by zooming insurance costs and expiring subsidies, while news of an out-of-control MG EV might spook some would-be buyers.
Some positive claims are melting away as the electric car revolution gains momentum. Enthusiasts asserted that prices would fall quickly, and new battery electric vehicles (BEVs) would be available to average earners. That’s not happened yet, with most prices starting at around €30,000 after tax ($32,000), about twice the price of similar new combustion vehicles. As sales accelerate exponentially, the cost of scarce battery materials will likely go up, not down. Insurance will be much cheaper because electric cars have fewer moving parts and are cheaper to assemble? That’s another promise which has bitten the dust.
Recent Comments