Wednesday, June 15, 2011

Electric Vehicles Increasingly Competitive

The adoption rate of electric vehicles (EVs) is a corollary of market forces. EVs must be able to compete with traditional vehicles. EVs may have a higher sticker price then traditional vehicles but they compensate with lower operating costs.

Electric cars do not need gas and they do not require maintenance like air filters and oil changes. Driving 120 miles in a gas engine car costs at least $13.50. The electricity needed to power an electric car 120 miles costs $2.20.

Mass production will bring down up front costs and as oil becomes more expensive, battery technologies like lithium-ion will be more competitive.

© 2011, Richard Matthews. All rights reserved.

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Patrick C said...

Business models like Better Place where you buy the car but lease the batteries will also help bring down the upfront cost.

The Green Market Oracle said...

Thanks for the comment Patrick. I totally agree with your statement about Better Place. Please see Electric Vehicle Battery Technology Obstacles and Solutions

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