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The price development of electric vehicles

Electric cars are still too expensive for many, although there is great interest in switching to electric mobility. The Tagesschau has published an article about this, which shows what obstacles the energy transition still faces and how electric vehicles can be made accessible to the general public. By 2030, 15 million electric cars are expected to be in use in Germany. So far, only 1.3 million electric vehicles are driving on German roads, costing an average of 52,700 euros.

Can the energy transition be implemented for every household?

At the beginning of 2023, Robert Habeck presented an immediate climate plan that was intended to advance the energy transition and make it affordable for everyone. However, affordable models remain in short supply, meaning that electromobility appears to remain a luxury for high-earning households. There are currently only three electric cars for sale in Germany that, according to the list price, are under 30,000 euros.

If you choose one of the cheapest options, you have to make compromises in terms of comfort and space. In addition, since December 18, 2023, the environmental bonus that buyers could receive by applying to the Federal Office of Economics and Export Control (BAFA) when purchasing an electric vehicle has been eliminated.

Brands vary in their implementation of electromobility

German manufacturers are working to reduce prices, but it will still take time before they can compete with Tesla and Chinese brands, as they have started working on electric mobility earlier and in a more focused manner. The first priority is to reduce manufacturing costs in order to be able to adjust sales prices in the next few years.

The EU regulations and higher interest rates make production even more expensive - the high interest rates also drive up financing and leasing costs. The requirements for security systems and the customs duties for batteries that continue to be imported from Asia must be paid for by the end user.

An alternative to expensive, conventional lithium batteries: sodium batteries

The Stern recently published an article looking at new sodium-ion batteries that could reduce the cost of electric vehicles. China recently launched the first production vehicle with this promising technology. The advantages are obvious: sodium-ion batteries promise improved performance, are easier to maintain, less sensitive to extreme temperatures and far less rare than lithium. They are also considered safer because sodium is thermally stable and non-flammable, unlike lithium batteries, which have safety problems.

While smaller vehicles in particular currently benefit from this technology, ongoing research is showing promising developments that indicate that larger vehicles will soon be able to benefit from it too. This progress would be a crucial factor in circumventing the rising costs of raw material procurement and making electric cars more affordable for a broader segment of the population.

Is there even a demand for electric cars?

In Germany, every second person lives in a rented apartment, which is disadvantageous if you are thinking about installing your own charging station. Although every tenant is legally entitled to one, the application process is still time-consuming and complicated. In addition, one in three German households has neither a garage nor a parking space.

75% of people also live in cities, which raises the question of whether you should even buy your own vehicle. Alternatives such as public transport, car sharing or electric cargo bikes are available instead of your own car.

More fast charging stations in many places in the city can increase the attractiveness and increase demand. In addition, more fast-charging parks would be needed to make electromobility usable for the general population.

Another point: So far, for many people looking for a car, buying a used electric car is not an option because the supply is very small. This will change in the future when first-generation electric vehicles increasingly arrive on the used car market. Concerns about battery life should not be a reason not to buy electric vehicles on the used car market. With a battery report you can easily prove whether the battery is efficient and what its life expectancy is.

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