How can electric cars be affordable for everyone interested in cars?

Electric vehicles Energy

General Motors revealed that it would be releasing over 30 unique electric car models before the onset of the next decade. On the other hand, Ford announced plans to pump over $20 billion into the electric vehicle program, which it would be selling in Europe alone by the end of the decade. Jaguar is preparing to unveil its purely electric cars by 2025 while Tesla is setting up its utilities in different countries where it can develop sedans, trucks, and batteries for the electric vehicles. The increasing electric vehicle production operations have facilitated US citizens’ transition interested in cars into electrics. The country had initially ignored the shift due to the Trump administration’s stringent measures against these cars. However, the Joe Biden administration is supportive of the idea of making automakers develop the models with much ease.

These trends force state agencies and electricity utilities to develop electric vehicle charging stations in public spaces to sustain the models’ uptake without anxiety. Developers have taken it upon themselves to install electric vehicle chargers in different buildings, parking slots, public corridors, and apartment units. The primary challenge in the rollout of electric vehicles is their accessibility and affordability. For example, most of the average Californians have less disposable income. Therefore, they might not purchase electric cars, and if they do, the recharging prices will scare them away. This situation leaves the rich and the mighty with the chance to recharge their Tesla models in these stations. Developing electric vehicle charging stations in such places would mean finding ways to make electric cars affordable to maintain the balance and encourage people to buy them.

Leslie Aguayo of Greenlining Institute stated that these technologies’ subsidies and incentives might favor only the early adopters. This statement is valid because this category of people has enough taxable income to take up the products. He explained that they would start paying attention to the sidelined groups and educating them on the best way forward to accelerate the uptake rate for electric cars. Moreover, electric vehicles are cheaper to maintain and run than ICE cars because they do not require fueling and heavy maintenance services. The other factor that would probably be the impediment to purchasing electric vehicles is a scarcity of home garages. Most low-income earners cannot afford houses with home garages and therefore miss out on this technology.