Kana Inagaki and Sarah White of the Financial Times report that carmakers and governments have spent billions trying to entice people to switch from petrol to electric, but progress has stalled. They write:
Catherine Michaux and her husband Jean Yves seem to fit squarely into the target consumer group for electric vehicles.
A retired lawyer, she no longer needs to commute. The couple own a home where they could charge an electric vehicle on their own time, at lower cost. They have tried out electric car rentals in their small French village near Nice last year and enjoyed the experience.
Even so, the couple says they are put off by the cost of buying an EV. “People will never be able to afford electric cars. It’s impossible,” Michaux says. […]
The reasons for the slowing growth in EV sales range from the high upfront costs combined with concerns over driving range and charging infrastructure. The promise of lower energy prices faded with the war in Ukraine while high interest rates globally have pushed up monthly lease payments.
According to analysis by NGO group Transport and Environment, the average price of an EV in Europe was around €40,000 before taxes in 2020. Today, the price is around €45,000. […]
In the short term, the focus will be on developing cars at affordable prices, even if that means relying on Chinese battery manufacturers to bring down the cost of batteries. “Now, consumers want to buy a good car and don’t care if it’s electric or not,” Miedreich says. “So what all the car manufacturers are looking for now is the cost.”
Read more here.
