As electric cars continue to grow in popularity, purchase costs are beginning to become more on par with ICE vehicles – especially in Europe, where conventional cars with gasoline engines are being increasingly penalized. In some cases, electric cars are significantly cheaper than their ICE alternatives.
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For example, a Porsche Taycan costs roughly half as much as a Panamera in Norway. Meanwhile in France, a BMW i4 M50 is 35% cheaper than a less powerful M3 or M4. However, on the lower end of the segments, EVs are still considerably more than equivalent ICE cars. In Germany, a Volkswagen ID.3 costs at least €38,000 compared to a well-equipped Golf that can be had for €8,000 less.
So, why is it that entry-level EVs remain more expensive than their combustion-engine equivalents? Honda’s Vice President of Business and Sales for America, Dave Gardner, was recently quizzed on the matter and commented:
“We [Honda] don’t really believe that the current lithium-ion technology is the long-term solution. Solid-State batteries are going to be the game changer for us.”
Dave Gardner believes solid-state batteries will enable entry-level EVs to be priced “in the neighborhood of what a nice [ICE] vehicle costs.” However, he also admitted that solid-state batteries are still a while away and won’t be used on the brand’s upcoming Prologue crossover. That being said, Honda says it is committed to the development of solid-state batteries and has recently announced a $310 million investment in this area.
Honda’s first mass-production EV, the E city car, hasn’t been a great success from a sales perspective. Only 3,752 units were sold in Europe last year, despite targeted sales of around 10,000 units. Although Honda E received plenty of praise for its retro-inspired funky design and tech-laden interior, however its poor range of just around 210 km and €30k+ price has drawn criticism from many.
Undoubtedly, Honda will be hoping its upcoming Prologue electric crossover will sell better – even if it costs consumers more than a similarly equipped CRV.
Source: InsideEVs
A computer animation professional with over 23 years of industry experience having served in leading organizations, TV channels & production facilities in Pakistan. An avid car enthusiast and petrolhead with an affection to deliver quality content to help shape opinions. Formerly written for PakWheels as well as major publications including Dawn. Founder of CarSpiritPK.com
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