Going Green is Not Cheap – Updated 07.04.22

Polestar sells two models: The $155,000 Polestar 1 hybrid and the $48,400 Polestar 2, a fully electric sedan. And it has grand plans to launch three more vehicles and boost annual sales tenfold by 2025. The company plans to list on the Nasdaq on Friday under the ticker PSNY. 

Electric-car startup Polestar bets you’d rather buy a car from your couch than go to a dealership — https://www.businessinsider.com/polestar-electric-ggpi-stock-tesla-ev-car-buying-2022-6

I hope your battery lasts a long time too.

You pay at least 30-40 percent more up front, for the electric car, itself. And then you pay a sum equivalent to 20-30 percent of its original sales price when it was new, when its battery pack gets old, for a new one. The total increase in cost is at least 50 percent more than the cost of owning a non-electronic car over the same 10-12 year period. And that doesn’t factor in the savings that can be had by continuing to own (and drive) the non-electric car for another 5 or even ten years longer, which is realistically feasible for non-electric cars because they last much longer than electric cars.

The High Cost of Electronic Cars — https://www.ericpetersautos.com/2022/06/20/the-high-cost-of-electronic-cars/

But if your battery does need replacing and you can’t afford it…

Not cheap and not getting any cheaper.

Update 06.23.22

Interest in electric cars has increased as a result of high gas prices, but the rising cost of electric options is putting the vehicles more out of reach for many ordinary consumers….The average cost of raw materials — including the cobalt, nickel, and lithium needed to make EV batteries — is now around $8,255 per vehicle, the research said.

Electric vehicles are getting more expensive because raw material costs have more than doubled to $8,000 — https://www.businessinsider.com/cost-of-making-electric-cars-is-growing-manufacturers-hike-prices-2022-6

Update 07.04.22

If EVs don’t get cheaper, “the market will collapse,” Deboeuf said at the company’s Tremery factory in France. “It’s a big challenge.”

Stellantis: Car market could collapse if EVs don’t get cheaper — https://europe.autonews.com/automakers/stellantis-car-market-could-collapse-if-evs-dont-get-cheaper

The energy and raw material inputs are staggering – and for that reason, so is the cost. How will the cost go down when the materials themselves are expensive, especially in quantity? How will the cost of energy go down, when there is more demand for it – and less generating capacity?

The Canary Just Chirped — https://www.ericpetersautos.com/2022/07/02/the-canary-just-chirped/

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