alt Hacker NewsIt is low cost! The Tesla Model 3 was twice the cost almost a decade ago.
BTW: The price premium for electric is offset by the lower cost of electricity, and the fact that electricity's cost is much less volatile than gas.
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It's not just that. EV charging and solar resources have improved while fossil fuels have become more expensive. The maths is very regional. Some countries are better at producing electricity or oil than others.
"BTW: The price premium for electric is offset by the lower cost of electricity…"
How about depreciation though?
My sense is that after so many years (5?, 8?) an EV is going to be desperate for a new battery. That's, what, $5K (10K?) or more? It's like if an ICE car needed a new engine after 65K miles.
I assume the resell value for an 8-year old electric needing a new battery is close to zilch.
I want an EV, but they have to come way down in price.
Depends on where you live. In states like Connecticut, or certain areas of California (PG&E Bay Area customers), the ROI is very long or simply doesn't pencil out at all. I think for Connecticut, which has high electricity prices but low gas prices, it's just net negative. For me in SF, despite high gas prices the ROI is just too long (5-10 years?), and that's before factoring in the ~$5000+ required for updating my electrical box, which is a conservative estimate because now the city requires the meter to be outside the house, whereas it's currently in the garage.