The prices of electric cars are influencing the market

In recent years we have witnessed the introduction on the market of several models of hybrid and electric cars. Now both consumers and car manufacturers have realized the enormous potential of electric mobility. For these reasons, motorists are more likely to be interested in the field of electric vehicles and we assist to the spreading of news relating to such means. In fact, the advantages of electric mobility are not limited to protecting the environment, but affect many other aspects. Electric vehicles are much more affordable than traditional when we consider savings from maintenance costs and on fuel. These vehicles do not require periodic inspections (not including batteries that must be replaced after travelling about 150,000 miles) and a full charge would only cost $2-$3.

However, today's families are involved in a severe economic crisis and purchasing these innovative vehicles are sometimes over the budget since they tend to cost more than their fuel based counterparts. In recent years, manufacturers have tried to reduce production costs and the continuous launch on the market of new models of both hybrid and pure electric vehicles has also increased competition and thus, helped lower prices further. However, even with all these adjustments, the price of lithium batteries continue to remain high. In fact, lithium batteries have great influence on the overall cost of electric vehicles. It is expected that this trend will change and we can expect a gradual decrease of this part.

According to most recent estimates, it is expected that in the next decade the cost of lithium batteries will reach $500, and by the year 2030, prices will even hover around $100 for a complete package. Of course, the challenge lies not only with the sale price of lithium batteries, but it also extends to their energy efficiency, which will have to increase in order to provide greater autonomy to these vehicles. In fact, today's batteries allow only a limited mileage that does not exceed 100-150 km per charge, making these cars usable only for city use. It is necessary that these vehicles are able to respond to the needs of all motorists, making sure that they can also be used for long trips. This can be possible by implementing a wider network of quick charge stations, which should efficiently cover the entire country, not only urban areas. Currently, the government projects involving the creation of public charging networks for electric vehicles are still insufficient.

There are other ways that governments has implemented to support electric mobility. One of them is through an incentive program, which gives bonuses after the purchase of new electric vehicles. Another is the exclusion from paying some taxes. For example, countries such as Italy, Austria, Sweden and Germany have abolished the payment of road tax and registration for electric vehicles. There are also countries such as Denmark and Norway who promotes free parking for electric cars in city centers and have excluded electric vehicles from the payment of tolls on highways. Finally, several states had even started a plan that electric vehicles (such as ATX Alke) can have a free pass to exclusive highway lanes. Even the United States follow the example of Europe, especially in California where they issued a series of laws that provide subsidies and deductions that encourage the production and use of environmentally friendly vehicles of all types. These initiatives that supports electric mobility are spreading and with the improvement of price reduction of electric vehicles is a trend that will increase in the coming years, making electric vehicles the preferred choice.