When surveyed, consumers stated that the price of an electric car is a concern, and most likely the reason that stops them from hopping over to the green side of cars. Well, the race is on for Volkswagen and Tesla to offer a cheaper electric car to hopeful customers, as the two have mentioned that they are launching programs to offer a car in the $24,000 and $30,000 range.
Being both Tesla and VW already producing quality cars, we are expecting to see some great electric cars with similar capabilities and features. We have only seen good quality EVs that are priced too high for the average Joe, especially in the Middle East where EVs cost more here than they do in other markets (we’re talking to you Tesla!).
Tesla announced in September their plan to bring a loner-range EV, with its new battery tech, that is priced around $25,000. Musk even said that it will be fully autonomous. Now both the price and autonomous driving will not be applicable to our markets, if the current company and market trends continue as they are.
VW recently gave the go ahead to kick-off a new vehicle program that would aim to put a car the size of the Polo at a price point ranging between $24,000 and $30,000, on the roads.
With the latest developments in battery technology, and more manufacturers pumping up investment in their EV programs, costs are reducing. In the next few years, we expect to see a considerable drop in the prices of EVs.
When we speak of cheaper electric cars, we believe that both will be hatches, or coupes, and may very well attract many customers that want a futuristic looking car that does not pollute mother nature.
This is a step in the right direction for the world of EVs, currently Nissan holds the lead in this price point segment with their world’s best-selling Leaf. Which might also mean that Nissan needs to up their game as competition is right around the corner. Which reminds us, where is that Leaf and when is it coming to the wider Middle East?