Top 6 reasons why Cheaper electric vehicles coming despite high battery costs

1.Large Buyer Segment

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2. Federal tax credits

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3. Switch Buyers

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4. Competition

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5. Market Demand

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6. Govt policies and Incentives

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Top 6 reasons why Cheaper electric vehicles coming despite high battery costs

Cheap electric vehicles coming despite high battery costs

1.Large Buyer Segment

To attract the Mainstream Buyers Companies are trying to produce cheaper EVs. The buyer segment is large for cheap electric vehicles.

2. Federal tax credits

Federal tax credits are seen as an opportunity by automakers and thus they are betting on the steps such as cheaper electric vehicles.

3. Switch Buyers

To get mainstream buyers switched from gasoline vehicles to Electric cars. Cheap electric vehicles can help in this switch.

4. Competition

Cheaper electric vehicles are capable of driving that buyer volume to the company. Thus helps in Beating Competition

5. Market Demand

If demand for cheaper vehicles gets rises and the automakers put cheaper and cheaper vehicles on the market, can make a difference.

6. Govt policies and Incentives

The initiatives by governments are also the main reason for the cheaper electric vehicles coming despite the higher battery prices.