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If the premise was right then it would mean that the workforce wouldn't even be able to afford gas powered cars either. We know they can afford gas powered cars
by WheelsAtLarge 3y ago
If the premise was right then it would mean that the workforce wouldn't even be able to afford gas powered cars either. We know they can afford gas powered cars. Increasing incomes will only make it harder for people to afford EVs. It's a self defeating process. The reason EV's aren't affordable is because batteries and the overall EV manufacturing process has not yet achieved economies of scale. Gas powered cars have many more parts and require more labor to create. The reason they are less expensive is that manufacturers have squeezed out most inefficiencies out of the system including outsize profits. Give EVs time and we'll see them stabilize at a price that most workers can afford. The last thing Ford and such companies want is to make a product only the rich can afford. As vital patents expire and more competitors become part of the manufacturing process we'll see prices come down to a price that's reasonable versus people's income. We have seen it with Tesla. 20 years ago only the very rich could afford Tesla's first car. Recently they introduce a somewhat affordable car. Affordability will continue. Believe in the process, it's just a matter of time.