High Prices Holding Back Electric Vehicles

Electric vehicles have made progress that some may never have thought possible, they have made a dent in the auto industry and are becoming more and more available nationwide and worldwide. Yet the biggest obstacle still remains, getting these vehicles down in price in order to make them more affordable for the every day, middle class person.

Many people have gotten on board with the changing world, better and more efficient technology, autonomous vehicles. This goes the same for electric vehicles and their jump into the industry. People are open to buying them, but the high cost is what stands in the way.

While the future is bright, experts are predicting that new cars sales will be about 1/3rd electric of the vehicles being bought by 2030 as well as a battery prices will drop roughly 7% each year, electric vehicles still face some obstacles.

Electric vehicles are healthier and better for the environment. But people still are purchasing gasoline run vehicles compared to electric because of the lower price as well as the lack of available filling stations for new electric cars. Another issue is that people think that electric vehicles are inconsistent, with not enough battery life as well as mileage.

Electric filling stations are actually becoming more and more common, people are just failing to realize that they are near their homes or work, compared to the number of gas stations you will see where ever you go. This falls on the filling stations to advertise more.

Another issue on price is that the federal government may be stopping one of the most appealing incentives they have offered for purchasing an electric vehicle. That is a $7,500 income tax-credit.

Many believe that electric vehicles will still be the future of what’s running on our roads, while others believe we will be going in the full autonomous route. Still, electric vehicles and their makers must make changes to lower the price of their new vehicles, making them more affordable and available for the average man or woman.

Regardless of the vehicle you drive, it is always important to keep yourself protected and safe. Having the right auto insurance plan can help with that. There are many great auto insurance plans throughout the Chicagoland area.