Looking for the cheapest electric car you can find can be a difficult task. Electric cars are more expensive than their gasoline or diesel counterparts. In the future, electric cars look to continue being priced higher than conventional vehicles. Converting an existing vehicle to run on electricity is the best way to get the cheapest electronic motored car you can buy. Converting an existing car is not only cheaper than buying a new vehicle; it’s also a form of recycling that saves a car from going to the scrap yard.
New Electric Vehicles Are Pricey
The primary reason for the higher cost of electric vehicles is the batteries. Rechargeable batteries are expensive and a car needs a lot of them. Car manufacturers are always looking for better battery chemistry, or more advanced charging systems. The new technologies that the car companies want so badly in order to extend range, or reduce charging time, are also the main reason the cars are so expensive.
New technologies cost more because they have to pay for R&D. R&D is an industry term that stands for research and development. Automotive companies spend millions of dollars researching and developing new technologies that can make electric cars perform better for consumers. The way that they pay for all of that research and development is by making their money back by adding the cost of it to the sticker price of the vehicle. Of course that cost is spread out over thousands of vehicles, but it’s still a significant amount.
Economies of scale
Because there are a lot more internal combustion vehicles sold every year than electric vehicles, EVs will remain more expensive. When you produce something in high volume you can produce it for less money per piece. If you manufacture less of something, they cost more per piece to make. Since there are less Electric vehicles made per year than gasoline, they will remain more expensive.
Will electric vehicles always be more expensive?
Electric vehicles will be more expensive than a gasoline powered car for as long as more gasoline cars are sold than electric. That sounds a little confusing, but what is meant by that is that when more than 50% of new cars sold are electric, electrics will become cheaper than other cars. The reason for this is again the economy of scale. There are savings in making a lot of something. When this shift will happen is anyone’s guess. I wouldn’t expect it to take more than 20yrs. It may happen as soon as 5.
If you want a car that runs on electricity now, and you don’t want to pay a fortune, you should consider converting an existing car. The lowest priced electrically powered vehicle you can buy is a used car without an engine, and a pre-built electric conversion kit. As an example, you could buy an old Volkswagen and convert it to an electric vehicle for a total of about $6000. You will never find a new electric vehicle for even twice that much.
The cheapest electricity driven automobile you could find on a dealers lot would probably be a used Prius. When you’re buying a used and older EV, you don’t know what the condition of the battery pack is. If you get a really good price, there is reason to be suspicious. If you convert an existing car, You have all brand new batteries, controllers, and motor. You know everything is in perfect working condition, and you spent a lot less money.
Buying a cheap electric car seems like a frugal and environmentally responsible thing to do. The truth is, it’s more frugal and more environmentally responsible to take a vehicle that uses gasoline, oil, and antifreeze off the road and recycle it into an electric vehicle. It’s a low cost alternative to paying the high price of a newly manufactured vehicle, or taking a gamble with the unknown batteries of a used EV.