I\u2019ll confess, when electric vehicles (EVs) hit the market in 2010, I wasn\u2019t aware of what their arrival truly meant for the future of motoring around the world. <\/p>\n\n\n\n
The car in question was, of course, the Mitsubishi MiEV, which appeared in 2010.\u00a0 A nifty, 4-door hatchback that promised to power you through 120 electrified kilometres.\u00a0 It had a cool, bubble-esque look, but that was where it really started and ended for this forerunner to what we know electric vehicles to be today.<\/p>\n\n\n\n
Performance-wise, it wasn\u2019t really a standout — that said, there wasn\u2019t much to stand out from. Compared to similar-sized vehicles with internal combustion engines, it was near-impossible to justify the price point – around $55,000NZD. <\/p>\n\n\n\n
Hardly chump change! You could pick up a Mistubishi Colt for half the price, easily and get six times the distance out of a tank of petrol. At that price point, you could also start thinking about the esteemed Volkswagen Golf GTI, and still have money for a set of sweet rims (kidding!). <\/p>\n\n\n\n
It was hardly a time of price parity, and unfortunately, not much has changed in ten years. Today, whether you\u2019re looking at a Nissan Leaf ($27,400*) or one of Elon Musk’s Tesla Model-Xs ($86,000*), you\u2019re going to need a bit of coin to buy into the product line.<\/p>\n\n\n\n
So, why are electric vehicles subject to such high prices?<\/strong><\/p>\n\n\n\n The simplest answer is that high performance technology costs a lot to develop. Billions of dollars have been poured into research and development at every angle of an entirely new automotive concept, rather than building on pre-existing ideas and concepts with petrol-powered cars.<\/p>\n\n\n\n Beyond this, the actual cost of the lithium-ion batteries that are used to power electric vehicles is notoriously high. <\/p>\n\n\n\n Basically, you\u2019re running a really big laptop or smartphone. It takes a lot of battery power and stamina to deliver a high quality ride result, and at this stage in the game, as these companies continue to invest in raising their battery performance benchmarks, prices will shoot up, especially when you\u2019re producing lithium batteries for the mass market. The costs simply have to be recouped when the vehicle sells.<\/p>\n\n\n\n Of course, you can now start to pick up electrical vehicles in the second hand market, well below the sticker price in many cases. Just ensure you get a pre-purchase inspection<\/a> to insure yourself against any headaches down the track!<\/p>\n\n\n\n We\u2019re not trying to turn you off, though! The environmental and economic benefits these vehicles promise can\u2019t be understated. You\u2019re going to make up a fair bit of cost by paying for less fuel, and there\u2019s a feel-good element to owning an EV. <\/p>\n\n\n\n Just be aware that for the time being, as these vehicles take on new technological frontiers, they\u2019re likely to be subject to high prices compared to your usual petrol vehicles. <\/p>\n\n\n\n