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Can electric cars be made cheaper?
I would love to be able to finally ditch gas for good and get an electric car, but realistically it’s way out of my price range. Is there a way for electric cars to be made cheaper?
Allison Stone · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
It’s true that at present,
electric cars
on average tend to cost quite a bit more than a comparable gas-powered car. However, as electric cars become more popular, the price gap is closing. Keep in mind that electric cars are still relatively new to the marketplace, especially for the average consumer. The main discrepancy in production costs between electric cars and gas-powered cars lies with lithium-ion batteries, which are expensive both to source and produce.
Not only are
gas prices
as a whole soaring, but some automakers are also phasing out the production of combustion engines altogether. Some studies project that in just a few years electric cars may even be cheaper to produce than vehicles that still rely on fossil fuels. If you can’t afford to go fully electric just yet, there is always the option to look into an affordable
hybrid
option. In less than 45 seconds, Jerry collects all of your information from your existing insurer and collects a comprehensive list of competitive quotes from 50-plus top insurance providers. Make your choice and let Jerry take care of the rest. No long forms. No calling around. No hard work. Just savings.
The average Jerry user saves $887 a year on car insurance.
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- Gregory R.
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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